Property trends stories
Listings fell to record lows as buyers pushed Auckland’s median house price to GBP £1 million and nationwide sales hit a 14-year October high.
Albany has become Auckland’s top apartment market, with suburban projects taking more than two-thirds of sales as CBD demand slumps.
Nationwide house prices climbed 1.3% in October as low rates and scarce listings kept demand ahead of supply.
Record-low rates have lifted first home buyers to a 25% market share, but reimposed lending curbs could force many out again.
Lower migration losses are still propping up housing demand, though CoreLogic says border closures will eventually curb population growth.
House sales jumped to a 42-month high in September, with low borrowing costs and scarce listings driving record prices nationwide.
Nationwide property values rose 0.8% in September as low rates and scarce listings kept demand firm despite the economic downturn.
Hong Kong tops the global list for home prices, with an average residential property costing USD $1.23 million despite pandemic uncertainty.
Record house prices and strong sales are fuelling doubts over Treasury’s forecast of a 5% fall by June next year.
Lockdown failed to cool Auckland’s housing market, as August sales hit a five-year high and prices reached fresh records.
Auckland landlords and developers now face slower office demand and delayed projects as COVID-19 and recession fears cloud the recovery.
Pent-up demand is expected to lift sales as Aucklanders return to the market after nearly three weeks in lockdown.
ANZ sees a deep slump in dwellings as Covid headwinds, job losses and weak investor demand push construction and prices lower.
Auckland and Dunedin buyers are skewing towards mortgaged investors, as July's share hit a four-year high despite fresh Covid-19 uncertainty.
Sales and prices rose across New Zealand in July, but REINZ warned the market may not keep its post-lockdown pace for long.
Investor activity may stay buoyant through the 2020 election, with Colliers saying housing policy shifts have usually had only a limited effect.
House prices and sales have climbed to four-year highs in New Zealand, despite earlier fears of a post-COVID downturn.
Property values have already slipped nationwide, with tourism-dependent centres like Queenstown hardest hit as the recession starts to bite.
Sales momentum remains firm in Auckland, with first-home buyers and investors still active despite claims the city has tipped into a buyers’ market.
Lower deposit rules and weak bank returns are drawing small investors into housing, helping keep prices elevated across New Zealand.
