Market Updates

First home buyers will soon need to save even longer

The move by the Reserve Bank to reduce the share of owner-occupiers that can get a mortgage with less than a 20% deposit will hit first home buyers pretty hard – they’ve been the ones taking the most advantage of the current rules. In this article Kelvin Davidson explores what this means for first home buyers around the country.

16 Aug 2021

Construction costs rise 2.2% in the three months to June, the fastest quarterly growth on record

CoreLogic’s Cordell Housing Index Price has revealed residential construction costs surged 2.2% in the June quarter, the largest increase recorded since the Cordell Building Indices began in 2012, and surpassing the previous peak of 1.9% in Q2 2017.

13 Aug 2021

More

First home buyers will soon need to save even longer

The move by the Reserve Bank to reduce the share of owner-occupiers that can get a mortgage with less than a 20% deposit will hit first home buyers pretty hard – they’ve been the ones taking the most advantage of the current rules. In this article Kelvin Davidson explores what this means for first home buyers...

Construction costs rise 2.2% in the three months to June, the fastest quarterly growth on record

CoreLogic’s Cordell Housing Index Price has revealed residential construction costs surged 2.2% in the June quarter, the largest increase recorded since the Cordell Building Indices began in 2012, and surpassing the previous peak of 1.9% in Q2 2017.

Video: Digital Banking - evolving trends of 2020 into Permanent Behaviors

In this discussion, CoreLogic NZ Head of Product Tom Coad chats to David Cunningham of The Co-operative Bank and James Brown of Fintech NZ about future-proofing success in the banking and finance industry with digital and capitalising on the accelerated digital use throughout the COVID-19 pandemic.

Three months on CoreLogic review shows housing policy changes have had little effect on the market

Mid-Year Best of the Best review reveals the 2021 property market upswing is happening nationwide, not just in main centres

Following the activity and heightened interest in and around the national housing market, CoreLogic NZ has – for the first time – created a mid-year Best of the Best review. This halfway-point analysis takes a detailed look at suburb-level property data, and reveals the market upswing has not been Auckland or...

It hasn’t got any easier to trade-up post-COVID

Across the main centres, the trade-up premium (gap in value between three and four bedroom properties) is at least $150,000 or so, and more than $400,000 in central Auckland.

1200px-800px-aerial-view-house-ocean

Property market momentum remains but pace of growth slowed in May

According to the CoreLogic House Price Index (HPI), nationwide values increased by a further 2.2% over May. This is a slight reduction on the 3.1% growth rate witnessed over April.

CoreLogic First Home Buyer Report shows share of purchases declining in Q1

Our latest First Home Buyer Report indicates that Government intervention with tax policy changes to cool the residential investor market likely came at the right moment for first home buyers* (FHBs).

Housing construction costs on the rise; up 1.3% over March quarter

Housing construction costs surged 1.3% over Q1 2021, according to CoreLogic’s Cordell Housing Index Price (CHIP).

Latest CoreLogic data shows demand for property lingers, but slowdown looms

According to the CoreLogic House Price Index (HPI), which is the most complete and robust measure of property value change in the market, nationwide values increased by a further 3.1% over April.

Higher investor deposit requirements already having a strong effect

March was another bumper month for mortgage lending activity, but the tighter loan to value ratio rules from 1st March (and effectively prior to that because of banks’ own actions) have already significantly curtailed the low-deposit investor flows, as would be expected. On top of that, the Government has of...

CoreLogic report says property market game has changed; all eyes now on future market measures

The CoreLogic Property Market & Economic Report for Q1 2021 reinforced the heated market conditions which led to the Government’s recent housing policy announcement.

‘Fatigued’ first home buyers likely to increase focus on existing properties

Up to Q3 2020 first home buyers (FHBs) had actually had a strong property market share. But the rapid rise in values since then has caused them some ‘fatigue’, in terms of keeping up with deposit requirements – hence their share of purchases has dropped from 25% to 21%.