My main observation from a few weeks travelling around the country is that people have just accepted that volumes and values have slowed and they are ‘moving on’. Caution is the word that probably best describes expectations for the next 12-18 months, rather than pessimism.
Lower-priced suburbs and/or those that have seen high turnover rates over the past year have tended to have seen the most value growth. Several of these are in the lower North Island. Weaker suburbs have been concentrated in Auckland and Christchurch – no surprises there.
The latest QV House index is out and for NZ’s regions; and according to CoreLogic Head of Research, Nick Goodall - the news is both good and bad.
Driven by Auckland, new dwelling consents continue to rise strongly. By type, the growth has been driven by apartments and townhouses, with the average size of new dwellings continuing to fall. Given the growing population, a more intensified housing stock makes a lot of sense.
The latest QV House Price Index is out (using CoreLogic data) and none of the main centres saw property value growth of more than 0.5% since May.
As capital growth in the residential property market has continued to diminish and articles hypothesise what of a proper downturn, we yearn for more solid information to understand where the property market is heading next. Here in the CoreLogic Research team, we've been doing some work on forming a sales...
Wellington property values appear to have hit a recent low point as affordability concerns begin to surface in the higher-priced suburbs. A further flattening off wouldn’t be a surprise for the rest of 2018.
Let’s take a look at detailed regional data on first home buyer (FHB) activity and reveal how they’re a bigger share of the market in the smaller centres than the main cities.
NZ’s current property mix is made up of residential (1.6million properties), commercial (65,000), industrial (43,000) and a further 87,000 are rural.
Most people understand that an insurance premium is the price paid to secure insurance coverage as outlined in a policy document, but according to Richard Deakin, Head of Insurance Sales at CoreLogic NZ: “the perception that you have around those insurance premiums will be heavily influenced by whether you’ve...
NZ’s net migration inflows continue to drop. Although the level is still high, further migration falls will result in a softer residential property market than would otherwise have been the case and the provinces may be those to feel the brunt of it.