The most recent shift back up the alert levels in mid-August caused appraisals generated by real estate agents to drop again (albeit by much less than during April’s lockdown), with the flow of new weekly listings subsequently also staying muted.
From a housing affordability perspective, New Zealand has entered the current recession on a more stable footing than the previous economic shock of the GFC, according to the inaugural New Zealand Housing Affordability Report from CoreLogic.
The CoreLogic House Price Index (HPI) for August has found property values are still feeling the effects of the COVID-19 pandemic, with values slightly down (-0.2%) over the month.
After returning to parity in June, mortgage lending in July was higher than the same month last year, with advances to both owner-occupiers and investors showing annual growth.
The latest Pain & Gain report shows that the proportion of properties being resold for more than the original purchase price in Q2 2020 across New Zealand was 96.1%, down a touch from 97.0% in Q1.
Existing owner-occupiers are largely staying put at present, with first home buyers and especially mortgaged investors raising their market shares (as well as the number of purchases).
The 2020 General Election is fast approaching and even in normal years elections tend to create some uncertainty in the economy and the property market, with investors often finding themselves staring down the barrel of some kind of new tax or regulatory change. But of course, this isn't a normal year.
Recent events are clearly starting to take a toll on property rents in Queenstown, which have fallen by 10% since the same time last year. There are also a few other pockets of weakness across the country, although so far most areas have seen rents hold up pretty well.
The latest research from Auckland Cityscope shows that property sales value have decreased over the past three months.
According to the July 2020 QV House Price Index (HPI) results out today, property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower.
It’s obviously been an unprecedented year for the economy and property market so far in 2020, and unfortunately we’re not out of the woods yet.
The CoreLogic Buyer Classification series has shown that ‘movers’ (i.e. existing owner occupiers who are moving house) are relatively quiet at present, accounting for just 26% of NZ-wide property purchases in Q2 – the norm for this buyer group is closer to 30%.
Mortgage lending in May wasn’t as strong as we had been anticipating, but the lost ground was well and truly recovered in June, with $5.4bn of new loans on a par with the same month last year. This is yet another indicator which signals a return to some kind of normality in the economy and property market....
Download Property Pro for iOS or Android now! Check out our PDF release notes for this update. Giving you Market Insights at your fingertips, you now have front row seats to navigate the property market with unprecedented ease of access to the power of CoreLogic’s Market Trends.
We’re really pleased to announce that Property Pro for Android has just been released and is now available from the Google Play Store. Download a walkthrough of Property Pro's features. Following in the footsteps of our much-loved iOS app, Property Pro delivers data and market insights.
CoreLogic has launched major enhancements to its Automated Valuation Model (AVM) that improves accuracy by greater than 6% signalling the company’s ongoing commitment to NZ’s real estate industry.
March 03, 2017, Irvine, Calif. – CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that President and CEO, Anand Nallathambi, passed away on March 2, 2017, after a brief illness. “On behalf of the CoreLogic Board of...
CoreLogic NZ Ltd is delighted to have recently received accreditation to the New Zealand Partnerships for International Development Fund (Partnerships Fund) with the Ministry of Foreign Affairs and Trade (MFAT).
We’re delighted to announce that CoreLogic has been named as a finalist in two categories of the New Zealand Spatial Excellence Awards 2016.
Auto & General is the first Australian insurance provider to implement an advanced home insurance claim workflow and estimating system, in partnership with data and analytics company CoreLogic and cloud-based software group Symbility Solutions.
CoreLogic are pleased to be named in IDC Financial Insights FinTech Top 100 companies for a fourth consecutive year, coming in at number 17 for 2014.
CoreLogic have been recognised as a finalist in the 2014 New Zealand Spatial Excellence Awards in the Innovation and Commercialisation category. This comes on the back of our power line height clearance and risk analysis work through Street Cam 3D that we have done for a client in Auckland.
Jonno Ingerson, CoreLogic's Director of Research, spoke on National Radio this morning about the state of the property market, especially in reference to Auckland.
CoreLogic have moved and have a new physical address. We ask that you please update your records accordingly. Our new address is: CoreLogic NZ Limited Level 2275 Cuba Street Te Aro Wellington 6011. All other contact details remain unchanged including PO Box 4072, Wellington 6140.
Stephen Mitchell has been appointed as Country Manager to CoreLogic NZ, a property information, analytics and geospatial services provider in New Zealand.