News & Research

Monthly Property Market & Economic Update for September / October now available

27 September 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 September / October 2017 report:

  • Listings volumes: New listings remains flat in Auckland but are improving around the rest of New Zealand. Typically we come into a strong listings period at this stage of the year, so we’ll be watching whether 2017 repeats this trend.
  • Property value growth: New Zealand’s annual property value growth has dropped to its lowest level in five years. Hovering at just 4.8% in August, this decline is most strongly seen in our main centres, with Auckland achieving a dismal 2.8%. The last time Auckland saw an actual increase in value was nearly a year ago. 
  • Rents: Annual rental growth, which is relatively volatile, dropped last month (to 3.7%) after seeing a strong increase the month before. Gross rental yield has remained flat for the last year at just over 3%.
  • Property value to rental growth: If nationwide value growth continues to slow, which it could for at least the next six months, we may be in for a period where rental growth exceeds property value growth. Historically, this is unusual.

To download the full report click here.

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