New Zealand Property Market Sees Muted Start in 2024 Despite Rising Values in Majority of Suburbs
Key Facts Property values are rising in nine out of 10 suburbs according to OneRoof figures. Biggest quarterly lifts recorded in Arrowtown (+8.3%), Mataura (+8.2%) and Whitford (+8%). Suburbs in…
ANZ Economists Predict Flat House Prices for First Half of 2024, with 2% Increase by Year’s End
Key Facts ANZ economists predict that house prices will remain unchanged for the first half of 2024. Despite the soft market indicators, house prices are expected to rise in the…
Stagnant Housing Market in 2023: No Changes for First Home Buyers Despite Slight Increase in Interest Rates
Key Facts The New Zealand housing market remained unchanged in 2023 for first home buyers which saw them neither better nor worse off in the property market. House prices, particularly…
Reserve Bank Considers Introducing New Mortgage Rules to Safeguard Homeowners and Banks
Key Facts The Reserve Bank is considering the introduction of debt to income restrictions (DTIs) and revisions to loan to value ratios (LVRs) for residential lending. DTIs are a metric…
New Zealand Annual Inflation Rate Hits Two-Year Low Amid Decline in Food Prices and RBNZ’s Interest Rates Hike
Key Facts The Consumers Price Index increased 0.5% in the December quarter, giving us the lowest annual inflation rate in over two years. Annual inflation fell from 5.6% to 4.7%…
Inflation Concerns Could Accelerate OCR Hike while Rents Rise and Home Buyers Enjoy Market Conditions: Insights from New Zealand Property Market
Key Facts The Reserve Bank forecasts a 5% annual rate of consumer price inflation (CPI) for Q4, with a higher rate suggesting possibility of Official Cash Rate increase. A less…
RBNZ Likely to Start Cutting Official Cash Rate in August: ANZ Economists
Key Facts ANZ economists, led by chief economist Sharon Zollner, predict that the Reserve Bank will begin slashing the Official Cash Rate (OCR) in August. Zollner anticipates a sequence of…
Analysts Highlight Affordable Suburbs and Growth Corridors for NZ First-Home Buyers in 2024
Key Facts Affordable suburbs in urban centres like Ōtāhuhu, Pukekohe, New Lynn, Massey, Glendene, and Wainui in Auckland are predicted to attract more first-home buyers, according to Wayne Shum of…
NZ House Prices Drop in December, Auckland Leading Decline
Key Facts The Real Estate Institute of NZ data shows house prices fell by 1.1% in December compared to November. The Auckland market led the decline, with prices down by…
Reserve Bank Anticipated to Retain High Mortgage Rates Despite International Decreases
Key Facts There have been slight lowerings in bank mortgage interest rates recently due to a reduction in wholesale borrowing costs. The margin made by banks for their fixed rate…
New Zealand Property Values Show Sustained Growth; Average Value Rises to $924,489 Despite Market Challenges
Key Facts The housing market is seeing a slow but steady upward trend with average property values increasing by over 2% in the last three months. CoreLogic’s national House Price…
NZ Housing Market Experiences Value Fluctuations in 2023: Prices Drop in Major Cities, Rise in Smaller Centres
Key Facts The average value of New Zealand homes dropped by almost $32,000 last year. Drops in value were most significant in Auckland, particularly in Central Auckland’s eastern suburbs. Rural…
Forecast for New Zealand’s Property Market: Falling Mortgage Rates, Rising House Prices, and Opportunities for First-Time Buyers in 2024
Key Facts The property market can expect a boost from potential reductions in mortgage rates and strengthening house prices in 2024. Experts voice uncertainty over the exact timeline of these…
Understanding the Current Trends: New Zealand’s Housing Loan Market Shows Signs of Turnaround Amid Higher Mortgage Rate Concerns
Key Facts The housing loan market shows signs of recovery after a subdued period over the past 12-18 months. Gross new lending flows over August-October were 4% higher than the…
Rotorua, Queenstown and Tauranga Lead Quarterly House Price Growth Amidst Nationwide Slowdown, QV Data Indicates
Key Facts New data from QV shows that Rotorua, Queenstown and Tauranga led the house price growth in the December quarter with increases of 6%, 3.3% and 3% respectively. The…
New Zealand Home Prices Dip in 2023 but See Marginal Uptick in December Quarter
Key Facts New Zealand’s average dwelling values did not grow significantly in December 2023 according to the latest data from Quotable Value. The average value stood at $905,070 at the…
Kiwibank Slashes Home Loan Interest Rates, Predicts Further Drops Amid Decreased Wholesale Rates
Key Facts Kiwibank is cutting a number of its home loan interest rates, with reductions across two, three, four, and five-year periods. These cuts are a result of a significant…
November 2023 Sees 11% Fall in New Dwelling Consents with Significant Drops in Auckland and Wellington
Key Facts New dwelling consents in November 2023 fell 11% seasonally adjusted, after an 8.5% increase in the previous month. The number of standalone units consented in November exceeded that…