ANZ Economists Expect Housing Market Stagnation and Rise in Interest Rates in New Zealand
Key Facts The housing market in NZ is deemed as stagnant according to ANZ New Zealand’s economists. House prices have surged but sales remained unimpressive in the wake of increasing…
Tauranga Property Market Boosts National Average with 0.9% Increase in House Prices
Key Facts According to data taken at the end of January, property values across New Zealand have risen by 0.9 per cent compared to three months ago. 90 per cent…
Patchy Recovery in NZ Property Market and High Mortgage Rates Contribute to On-going Affordability Challenge
Key Facts In January, property market sales volumes only increased by 2% compared to the same month in the previous year, with major markets like Auckland, Hamilton, and Dunedin experiencing…
House Affordability Concerns Persist as NZ Households Allocate Half of Income to Mortgage Repayments
Key Facts Housing affordability in New Zealand remains challenging in light of recent house price increases and high-interest rates. 49% of household incomes were spent on mortgage repayments in the…
New Zealand Forecasted to See House Price Gains of 7% Despite Global Housing Correction
Key Facts Global interest rate increases ended the 2020-22 house price boom, with less damage than expected. Capital Economics researcher Andrew Wishart has concluded that the housing correction has likely…
Unexpected Change in Market Predictions Indicates Interest Rates Hikes, Not Cuts, for NZ Homeowners
Key Facts Economic data has caused markets to revise earlier expectations of a cash rate cut. ANZ predicts that the official cash rate will increase twice more this year, a…
New Reserve Bank Rules Require Aucklanders to Earn Near $200k For Average Home Purchase
Key Facts Auckland residents would need to earn at least $172,000 annually to buy an average-priced house under the Reserve Bank’s new debt-to-income lending rules. The proposed rules, which will…
Westpac Follows Suit in Cutting Mortgage and Term Deposit Rates
Key Facts Westpac is reducing a range of its interest rates, following the trend of other major banks. A fortnight ago, ASB, another significant competitor, reduced several mortgage rates, following…
Shorter Mortgage Terms Grow in Popularity Amongst NZ Homeowners and Investors, Hints Reserve Bank Data
Key Facts The ‘go short’ trend in New Zealand’s mortgage lending, a preference for shorter fixed term mortgages, has continued to be evident in the latest available figures for December…
New Zealand Homeowners and Investors Increasingly Opt for Short-Term Mortgages, Banking on Interest Rate Relief
Key Facts New Zealand home-owner occupiers are preferring to fix their mortgages on shorter terms. Most popular loan term is now one-year fixed, which accounted for 27.7% of all lending…
10% of Auckland Residential Properties Sold at Loss in Q4 2023, with Apartments Hit Hardest
Key Facts 10% of Auckland residential properties sold in Q4 of 2023 were sold at a loss. The percentage of properties selling at a loss in main centres ranged from…
Economists Anticipate Potential OCR Hike Following Stronger-Than-Expected Labour Market Data
Key Facts Economists suggest that the probability of an Official Cash Rate (OCR) increase has gone up following strong labour market data. Despite rising interest rates, a slower economy, and…
Expectation of Rapid Decline in Interest Rates Amid Predicted Central Bank Cuts
Key Facts Home loan rates have risen from lows near 2% to north of 7% but they are predicted to start falling again. The fall in interest rates could happen…
Surge in Property Listings Gives NZ House Hunters Broad Options, Asking Prices Remain High
Key Facts Realestate.co.nz reported a significant increase in new residential listings in January, up 10.5% from January last year, with 7347 listings. The overall stock levels of properties for sale…
January Sees Slow Rise in Property Values, Expectations for Lower Mortgage Rates Dashed by RBNZ
Key Facts The CoreLogic House Price Index showed a 0.4% monthly rise in national average property values in January 2024. The Minister of Commerce has announced that the Credit Contracts…
New Home Consents Plummet in 2023 Following Record 2022 Figures, Amid Rising Construction Costs
Key Facts Applications to build new homes in New Zealand have seen a significant decrease off a record-setting year. According to Stats NZ, the number of new homes consented in…
Slowing Inflation Signals Possible Reduction in Mortgage Rates with Changing Home Loan Regulations Looming
Key Facts Consumer price inflation has cooled from 5.6% to 4.7%, reducing the likelihood of an increased official cash rate and suggesting that mortgage rates may have peaked. Discussion is…
Mortgage Figures Indicate Quietest Year in New Zealand Housing Market Since 2017
Key Facts New Zealand saw a slowdown in its housing market in 2023, with only $62.116 billion worth of new mortgages being issued, according to Reserve Bank figures. The average…