Property Investors Hesitant Despite Lowered Brightline Test; First-home Buyers Take Control Amid Static NZ Property Market
Key Facts Despite the reintroduction of 80% interest deductibility for landlords and the reduction of the Brightline test, property investors still haven’t returned to the market. QV indicates that the…
First-Time Home Buyers in New Zealand Finding More Value for Their Money
Key Facts First home buyers in New Zealand are currently gaining more for their money due to real estate trends. Property experts attribute this shift to lower deposit rates and…
Potential Challenges for Property Owners as Government’s Interest Rate Strategy May Prove Difficult to Accept
Key Facts The government’s signalling to increase interest rates may provide a slowdown to the housing market boom. However, homeowners may find the increased rates difficult to manage, especially those…
Potential Loss for Auckland Homeowners as One in Eight Properties Sold During Boom May Now Trade for Less
Key Facts The government continues to express concerns about the high housing prices in New Zealand. Financial measures are being formulated by the government to cool down the property market.…
Rental Shortage Boosts First-Home Buyers: A Peek at the Current NZ Housing Market conditions
Key Facts New Zealand’s housing market is currently in a buoyant phase, causing issues for first-home buyers. Increasing house prices have created a rental shortage, with first-home buyers often getting…
ASB Cuts Mortgage Rates for Seventh Time This Year Amid High Inflation
Key Facts ASB, a major bank in New Zealand, has reduced some of its mortgage rates for the seventh time this year. The reductions apply to its six-month, one-year, and…
High Interest Rates and Public Sector Spending Cuts Impact NZ Economy and Property Sector
Key Facts New Zealand’s Official Cash Rate has been held at 5.5% for a year, but the impact is just starting to fully manifest in the economy. Retail banks are…
Over Half of March Mortgages in NZ Opt For Short-Term Rates Anticipating Future Cuts
Key Facts In March 2024, over half of the new fixed rate term mortgage money was for terms of one year or shorter. Though RBNZ doesn’t anticipate cutting the Official…
First Home Buyers Capitalise on Lower Property Prices and Reduced Competition in Q1 2024
Key Facts First home buyers accounted for 26% of property purchases in the first quarter of 2024, which is higher than the long-term average of 21%. Buyers are taking advantage…
Building Costs for New Zealand Homes Increase Despite Decrease in Size and Consents
Key Facts The number of new homes being consented has dropped over 37.4% since Q1 2022. In Q1 2024, 7717 new dwellings were consented, a 20.6% decrease from Q1 2023.…
Job Losses a Concern for Kiwi House Prices amid Flat Growth and High Mortgage Rates
Key Facts The Reserve Bank’s Financial Stability Report shows a resilient financial system with well-capitalised banks, but with potential risks in the housing market, including ongoing decisions about the implementation…
First Home Buyers Gain Edge as NZ Housing Market Flattens Amid Falling Construction and Rising Interest Rates
Key Facts New Zealand’s housing market is experiencing a lull, with CoreLogic data showing a general flattening trend. In April, the nationwide average house price declined by 0.1%, following minor…
Residential Property Auction Activity Increases, but Sales Rate Remains Steady at 31%
Key Facts Residential property auctions monitored by interest.co.nz showed increased activity from 22 April to 3 May, with 437 properties for sale. The number of properties auctioned spiked from 364…
Decline in Housing Market Participation by Migrants with Residence Visas Noted in Q1 2024
Key Facts Migrants’ share of the New Zealand housing market decreased slightly in Q1 2024, accounting for 13.1% of total dwelling purchases. This number represents a fall from the 14.0%…
Rising Interest Rates and Stubborn Inflation Poses Challenge for NZ Housing Market and Businesses
Key Facts The Reserve Bank increases interest rates to fight inflation which leads to decreased consumer spending. Many households are currently experiencing financial strain due to the central bank’s decision,…
Auckland Housing Market Likely to Remain Soft Despite Surge in Migration, Predicts ANZ Report
Key Facts ANZ Property Focus report suggests that the Auckland housing market may remain weak over winter. Auction clearance rates and sales-to-listings ratios suggest that Auckland house prices may soften…
Christchurch Homeowners Hesitate to Upgrade Due to Rising Interest Rates and Living Costs
Key Facts Increased interest rates and living costs are causing Christchurch homeowners to hesitate on climbing the property ladder. Property listings in Christchurch have increased by 20%, but buyer numbers…
Living Costs for NZ Households Rise by 6.2% due to Increases in Interest Payment, Insurance, and Transport Costs
Key Facts The cost of living for New Zealand households increased by 6.2% in the year to March quarter. Interest payments on debt surged 28% over the same period. Other…