New Zealand Housing Affordability in Focus: Luxon Urges “Downward Pressure” on Prices Without Committing to Drops
Key Facts Prime Minister Christopher Luxon did not explicitly say he wanted average house prices to fall, seeking only “downward pressure”. Housing Minister Chris Bishop stated that house prices need…
NZ Property Market Sees Modest Sales Growth Amidst High Listings and Flattening Prices
Key Facts Sales activity increased by 9.2% annually in May, with 6,789 transactions. Overall sales volumes are below the normal annual level, with 73,181 deals in the past 12 months.…
ANZ Economists Predict Softer Landing for NZ Economy, Potential Early Rate Cuts
Key Facts ANZ economists suggest New Zealand’s economy may face a softer landing than previously expected. ANZ’s chief economist, Sharon Zollner, predicts interest rate cuts earlier than RBNZ’s forecast. Local…
Eased Granny Flat Regulations Applauded for Boosting Affordable Housing Supply
Key Facts New law changes aim to simplify the process for building granny flats under 60 square metres. The policy eliminates the need for building consents in certain areas. Opposition…
Sales Activity in NZ Property Market Sees Modest Recovery, Listings Increase
Key Facts House sales in May showed a 9.2 percent annual increase but are still below normal levels. Annual sales count was 73,181, far below the typical 90,000 per year.…
ASB Survey: Interest Rates Expected to Fall as NZ Housing Market Faces Stalemate
Key Facts ASB’s latest Housing Confidence Survey indicates a directionless housing market with high debt servicing costs and upfront affordability constraints. For the first time since early 2021, more respondents…
Minister for Housing Advocates for Lower House Prices Despite Potential Homeowner Concerns
Key Facts Housing Minister Chris Bishop advocates for a reduction in average house prices, which he regards as too high. Bishop’s stance is unusual among New Zealand politicians, who have…
NZ House Prices Drop for Second Consecutive Month as Sellers Adjust Expectations
Key Facts House prices declined for the second consecutive month in May. National median house price dropped to $770,000 in May. House prices fell by 2.9% nationally over the last…
NZ Housing Market Struggles: Falling Prices and High Interest Rates Pressure Homeowners
Key Facts Households with mortgages should not expect interest rate cuts for at least six more months. Kiwibank survey: nearly one in three respondents cannot cover a $500 unexpected bill…
Upcoming GDP Data Could Signal Positive Trends for New Zealand Housing Market
Key Facts Thursday’s release of Q1 GDP figures is highly anticipated, with experts divided on whether it will show growth or a small decline. 58% of new loans in April…
Wellington House Listings Double as National Property Sales Rise Amid Economic Challenges
Key Facts The median national house price is steady with a slight annual dip of 1.3 percent to $770,000. House market value rose 2.3 percent in May according to the…
Short-Term Fixed Rates Dominate as Housing Market Faces Multi-Speed Conditions
Key Facts Owner-occupiers drew down $4.4 billion in new lending during April, largely on one-year fixed rates. Six-month fixed term lending reached a historical high of 16.5% among owner-occupiers. House…
Affordability Improves as Auckland Sees Spike in Budget-Friendly Townhouse Listings
Key Facts Ōtara townhouse listed for $539,000, described as “cheap as chips”. Auckland house prices have slowed down for the second month according to CoreLogic data. Some townhouses are in…
National House Values Decline for Second Consecutive Month, Auckland Leads Slowdown
Key Facts National house values dipped by 0.2% in May following a 0.1% fall in April. Auckland led the slowdown with a 0.8% decrease in May. Christchurch and Hamilton saw…
Auckland Housing Market Faces Slump Amidst Oversupply of Townhouses and Low Buyer Demand
Key Facts A significant number of new townhouses listed on the market in Auckland are contributing to a slump in sales prices. At its peak, Auckland’s annual home consents reached…
Auckland Leads Nationwide Decline in House Values Amid Market Uncertainty
Key Facts Auckland’s house values decreased by 0.8% last month. Nationwide average property values fell by 0.2% last month but increased by 1% over the year, reaching $931,438. House values…
Nationwide Property Values Rise, But First-Home Buyers Still Have an Edge
Key Facts New Zealand’s average property value increased by 3.33% year-on-year to $975,000. In the last three months, property values dipped 0.2% nationally. Property values decreased quarter-on-quarter in Auckland, Bay…
ANZ Economists Warn of Potential Downside Risks to Housing Market Amid High Listings and Changing Policies
Key Facts The housing market remains frozen with subdued sales and stagnating prices. High property listings as investors struggle with flat to falling prices. Bright-line test changes from 1 July…