News & Research
March - April 2017 Monthly Property Market & Economic Update now available22 March 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:
- Nationwide sales volumes have continued to be weak, with this February the lowest since 2011.
- Our small net gain in people (particularly Kiwi's) from Australia continues to hold, meaning we are seeing the longest period of net gain since at least the early 1980’s.
- Auckland sales have been less than the same time a year earlier for 17 months in a row, which is the longest we’ve seen since the GFC. February sales were the lowest in Auckland since 1993 – even lower than during the GFC.
- Market activity, or buyer demand, has started to pick up in Auckland but is still well behind the same time last year.
- Investor activity in Auckland appears to have rebounded after slipping late last year however further investigation has revealed this is mainly due to cash investors remaining active, while those requiring a mortgage have reduced their activity.
- Statistics NZ’s trend series for building consents shows a stark difference with January figures now available. December’s figures have been adjusted down and almost all areas are now trending downwards with Auckland’s drop of particular interest.
To download the full report click here.