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 2016 report:
- The average value of dwellings in Auckland has reached $1,013,632, with values increasing quickest in the East and South, as well as for CBD apartments.
- Waikato, Bay of Plenty, Queenstown and the lower North Island have seen the fastest increase in values over the last year.
- Following the RBNZ’s July announcement regarding the tightening of LVR restrictions we have already seen some impact on market activity. Auckland market activity is slowing rather than picking up (which is unusual for Spring), while outside of Auckland the Spring lift that has occurred is much less than we would expect.
- Total listings are down 23% from 12 months ago, but lifted recently thanks to a surge in new listings following the RBNZ’s July announcement, combined with slower sales activity.
- Investor activity has rebounded after slowing late last year in response to lending restrictions, while first home buyer activity remains mainly steady, but is starting to drop in Auckland and Wellington due to rising prices.
To download the full report click here