News & Research
April - May 2017 Monthly Property Market & Economic Update now available21 April 2017
This monthly report created by the CoreLogic NZ Research Team covers the main economic factors that influence the housing market, and then looks at sales volumes, values, and active buyer types in both the national and main centre housing markets.
Some highlights of the March - April 2017 report:
- After a surge in market activity earlier in the year, demand has significantly weakened in recent week.
- Our expectation remains that the latest lending restrictions will slow values for a few more months before things pick up again, probably after the election in September.
- With March’s data completing the Q1 2017 Buyer Classification stats, the bounce back of investors in Auckland, after declining in late 2016 has been confirmed. However this is mainly due to cash investors remaining active, while those requiring a mortgage have reduced their activity.
- While recently Wellington had bucked the trend of the other main centres, this month we’ve seen the same drop in buyer demand as Auckland, Hamilton and Tauranga.
- For the third month in a row we’ve now seen a drop in dwelling units consented in Auckland, with similar trends around the rest of the North Island.
- In Auckland we are at least seeing an increasing move towards intensification with 40% of consents in the last six months being for apartments, flats and units. Houses accounted for just over 50% of new dwellings consented, down from over 80% four years ago.
To download the full report click here.