There’s no denying that border closures and the loss of non-citizen migration to NZ will dampen our population growth rate and the rise in housing demand. However, it’s also worth pointing out that the citizen/kiwi side of the migration ledger could remain well above previous levels (as arrivals tick over but...
The latest research from Christchurch Cityscope shows that commercial property sales’ value in Christchurch’s CBD has increased significantly in the past three months.
Despite the extra COVID challenges that Auckland has faced over the past month or two, its property market has continued to track steadily.
According to the CoreLogic House Price Index (HPI) for September, nationwide property values are showing signs of growth once again, increasing 0.8% over the month, after generally stalling since May.
Despite August being affected by the latest round of social restrictions, mortgage lending activity showed no clear effects. Indeed, lending flows last month were again significantly higher than a year earlier.
The share of property purchases made by mortgaged investors across July and August combined was 26%, continuing their rising trend of the past few years
Even in normal years there’s never a dull moment when it comes to analysing the NZ housing market, and this year clearly isn’t normal.
CoreLogic NZ’s latest ‘Mapping the Market’ (September 2020) report released today delivers location analytics and geospatial expertise.
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.