House Prices
Don’t bet on house prices rising faster than incomes
Former Reserve Bank Governor and National Party leader Don Brash says there are grounds for believing that house prices may finally have ended the three-decade period when they rose significantly faster than incomes.
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Similar Price Growth
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
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RBNZ: house prices may rise 7% a year in next two years
The Reserve Bank's forecasts were predicated on an assumption that house prices will rise about 7% in each of the next two calendar years, governor Adrian Orr told journalists after RBNZ cut its official cash rate (OCR) from 4.75% to 4.25%.
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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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