Residential Auction Sales Rate Stabilises Despite Drop in Sales in Waikato and Bay of Plenty
Key Facts Auction rooms for residential properties were busy last week, with 364 properties being auctioned, up from 345 the previous week but significantly lower than 500 a week during…
Affordable Housing Project Advancing in Taupō, with 38 Homes Under Initial Proposal
Key Facts A new housing development is progressing in the East Urban Lands area of Wharewaka, Taupō, focusing on affordable homes. The first stage of the development involves the construction…
Heartland Bank Raises Home Loan Rates But Still Leads Market, Despite Strong SBS Three-Year Offer
Key Facts Heartland Bank, known for its competitive home loan rates, has increased all their fixed rates between +10 and +20 bps (basis points). Despite these increases, Heartland Bank maintains…
Rising Incomes and Falling Mortgage Interest Rates: A Hopeful Sign for First Home Buyers Despite Flat House Prices
Key Facts Rising incomes and falling mortgage interest rates are significantly impacting the affordability for first home buyers. The national lower quartile residential selling price remained approximately at $600,000 in…
Slowing Inflation Doesn’t Hasten Interest Rate Cuts, Homeowners Hopeful for Lower Mortgage Rates in 2025
Key Facts The CPI inflation rate dropped to 4% in Q1 2024, a slight decrease from last year’s 4.7% but still above the 1-3% target range. Despite inflation concerns, the…
NZ Government Announces Financial Services Reform to Improve Home Loan Access and Strengthen Customer Protections
Key Facts The New Zealand government announced reforms to simplify lending and strengthen customer protections. The changes are part of the National-ACT Coalition agreement to update the Credit Contracts and…
New Zealand Real Estate Agencies Earn Estimated $399M in Commissions Despite Housing Market Uncertainties
Key Facts There has been no significant growth in the real estate industry’s residential commission revenue over the past year. Real estate agencies throughout New Zealand are estimated to have…
Inflation Worries as Majority of Mortgages Bet on Interest Rate Reduction Amid Rising Construction Costs
Key Facts Reserve Bank of New Zealand (RBNZ) projects a 0.4% quarterly rise in the Q1 Consumer Price Index (CPI), with an annual figure slowing from 4.7% to 3.8%. The…
Auction Activity Declines as New Zealand Housing Market Enters Autumn
Key Facts Auction activity in the residential property market saw an increase last week, but the sales rate seems to be declining. Last week, 472 residential properties were auctioned, an…
New Zealand Government Announces Rental Rule Changes to Encourage More Landlords Into the Market
Key Facts New legislation affecting renters and landlords is set to be introduced to Parliament next month, says Housing Minister, Chris Bishop. The legislative changes follow National’s pre-election commitments and…
Annual Inflation in New Zealand Drops to 4%, Despite Rising Household and Property Costs
Key Facts New Zealand’s annual inflation rate dropped to 4% in March, down from 4.7% in December. The Consumer Price Index (CPI) rose by 0.6% in the March quarter, slightly…
Housing Market Experiences Slump as Unsold Properties Surge Despite Seasonal Increase in Activity
Key Facts The housing market in New Zealand is currently unstable with sales levels below new listings. Total housing sales in March were up 8.0% compared to March last year,…
RBNZ Maintains Cash Rate Amid Inflation Concerns and Below-Trend Growth
Key Facts The RBNZ, headed by Governor Adrian Orr, states that New Zealand’s economy is developing according to anticipations. Present consumer price inflation stands above the committee’s target range. The…
Reserve Bank of New Zealand Maintains Cash Rate, No Major Impact Expected on Housing Market Growth
Key Facts Reserve Bank of New Zealand has decided to keep the official cash rate unchanged at 5.5 per cent. Most inflation measures are showing a downward trend, yet they…
Slowdown in Major Urban Property Market Growth, Auckland Values Decline: Q1 Report
Key Facts The average value of New Zealand homes increased by 2.2% to $924,734 over the first quarter of this year. The national average dwelling value is currently 1.9% higher…
Stabilising Residential Construction Costs Lower Risk of New Build Cost Overruns
Key Facts Residential construction costs have risen by only 2.3% in the year to March, signifying a moderation in price hikes, according to the Cordell Construction Cost Index by CoreLogic.…
Business Confidence Decreasing, Inflation Slowing, says NZIER Quarterly Survey
Key Facts A recent survey from the New Zealand Institute of Economic Research (NZIER) reveals a decrease in economic confidence and inflation indicators among 10,000 business leaders. A net 24%…
New Zealand Housing Market Returns to Buyer’s Dominance Amidst Recession Fears and Job Loss Worries
Key Facts Monthly survey of real estate agents shows New Zealand back in a buyer’s market amidst new recession. There’s been a decrease in people attending auctions and open homes,…