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 February - March 2017 report:
- The NZ economy remains in good shape, and the factors that have been helping push up house prices are still evident.
- Strong net migration, high consumer confidence, low mortgage interest rates and a persisting housing shortage in Auckland.
- Dampening influence comes from the latest round of lending restrictions imposed by the Reserve Bank in late 2016.
- As a result, buyer demand has weakened in Auckland, Hamilton and Tauranga. In Wellington and Dunedin buyer demand so far in 2017 has remained strong.
- Values are dropping in Auckland and Hamilton, while most other main centres are no longer increasing in value as they did last year.
- First home buyer activity in Auckland has taken a dramatic downward turn in the first month of 2017, reversing several years of gradual recovery from the GFC.
- In other main centres first home buyer activity has held firm or increased.
- Investor activity has also dropped, but not hugely.
To download the full report click here.