Most of our main data measures are effectively tracking sideways at the moment. So with ‘nothing to see here’, it’s given me time to delve into the hot topics currently circulating the property market. The way I see it, there are three ’bigger picture’ influences on the property market that deserve attention: what’s happening in construction, what’s going on with interest rates and what’s going on in the economy.
Watch the CoreLogic Monthly Property & Economic Update for August 2018
The latest research from Auckland Cityscope shows that property sales value have decreased over the past three months.
The RBNZ led the way with the surprises in the last month – starting with the big OCR cut, but adding in debt to income reporting as well. Sales volumes in July also caught us by surprise – check out this months’ video to catch the detail.
Mortgaged multiple property owners (i.e. investors) accounted for 25% of property purchases across NZ in July, returning their market share to levels not seen since late 2016. This has reflected a bounce-back by smaller, ‘mum and dad’ investors, perhaps with only one rental property. The low returns available...