House Prices
Predictions cut for rising house prices
Two of the country’s major banks have slashed their house price growth forecasts for the rest of the year.
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Interest rate expectations: It’s not over yet
Most Kiwis think interest rate increases have peaked.
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Sales dive to new depths – lending at low DTIs
House sales have plunged to their second lowest level in about 40 years, only 2% up on January’s sales last year, which were the lowest since 1983.
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Listings surge and prices up
Property prices have edged up slightly heading into the summer break.
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Housing market still at a low ebb despite lift in sales
While the Real Estate Institute of New Zealand’s (REINZ) November data show a solid increase in sales, up by 15.7%, from 5,550 to 6,422, month-on-month, and up by 12.2%, from 5,724 to 6,422, compared to November last year, the number was the lowest for a November month since 2011. Apart from November last year, last month’s sales were below 7,000 for a November month since 2013.
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Apartment market takes a dive
Increasing constraints, including the cost and availability of credit, have meant a major slowdown in the apartment market. Consents dropped by 36% in the year to October – the lowest total since July 2017.
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Auckland housing market rebounding
Wealthy Auckland buyers who can afford $2 million plus houses have returned to the market in force.
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Weaker than expected
ANZ is predicting house prices to fall 0.4% over the rest of the year, versus the 0.2% rise it had previously forecast.
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Housing slump over
CoreLogic’s latest national House Price Index (HPI) shows the national downturn is officially over with a total peak to trough decline of about $138,000 or 13.2% from the record highs of late 2021.
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Housing market turns but big bounce not expected
Growth in the property market is on the way up although at a gentle place.
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House price rises revised upwards
ANZ reckons house prices will now lift 4% over the second half of this year. This is up 1% from its previous forecast of 3%.
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Properties selling faster and prices increase
As the residential market turns around from a deep downturn, properties for sale are spending less time on the market and prices have increased for the first time in 10 months.
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Housing market perkier than expected as it turns around
The latest REINZ property market figures shows a convincing turnaround in fortunes.
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House sales rise more than 50% on a year ago
More houses were sold by Barfoot & Thompson, Auckland biggest residential agency, last month than in the March last year.
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Restoring housing affordability
House prices in New Zealand are among the most unaffordable in the world.
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