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January Video Thumbnail

Watch the CoreLogic Monthly Property & Economic Update for January 2019

This month we keep it nice and short, checking in on listings and sales volumes and musing possible LVR changes and the relevance of CVs.

21 Jan 2019

Inconsistent growth across many of NZ’s main centres epitomises the 2018 property market

According to the December CoreLogic QV House Price Index, property values in New Zealand grew by 1.2% over the last three months, a minor reduction on the rate of growth at the end of November. A slight drop (-0.2%) in the Auckland index for December took the annual rate for all of 2018 into the negatives (-0.4%) for the first time in just over a year. This further illustrates the weakness of the current Auckland property market as unaffordability, restrictive lending and Government influence continues to impact the market.

16 Jan 2019

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OCR decision doesn’t change slow but steady property outlook in 2019

The Reserve Bank (RBNZ) has kept the official cash rate (OCR) on hold at 1.75% for the 15th consecutive time. They’ve also suggested that a nearer term OCR cut may just about be back on the cards, having back-pedalled from that in November. For the property market, this points to continued low mortgage rates.

NZ property market starts 2019 in the same subdued way as it ended 2018

According to the CoreLogic QV January House Price Index results, property values in New Zealand have grown by 0.9% since October, a slight slowdown from the figure of 1.2% in the previous three-month period. The annual growth rate also slowed, from 3.2% in December to 2.9% in January - not a large dip...

Effects of the foreign buyer ban

Today’s data from Statistics NZ doesn’t show any clear effect from October 22nd’s so-called foreign buyer ban in the residential property market. However, because they measure final transfers rather than the earlier agreement, the three-week window in October to push through agreements has probably...

No clear impact from looser LVR rules yet

Although the easing of LVR restrictions only kicked in from 1st January, they were announced at the end of November, theoretically giving the banks a chance to act early and get a one-off lift in lending in December. Yesterday’s figures however showed that this didn’t eventuate, with high LVR lending still...

2019 property market could be last year, on repeat.

The CoreLogic Property Market & Economic Update Report is out, and we’ve focused on the fact that NZ’s residential property market ended 2018 with generally subdued activity levels in the face of reasonably consistent (albeit controlled) value growth across most of the country, with the exception of Auckland...

First home buyers and investors still busy; movers not

The big stories of 2018 in our CoreLogic Buyer Classification data were the continued activity from first home buyers (FHBs) and mortgaged multiple property owners, but the inactivity from movers (i.e. existing owner-occupiers). Even in Auckland, where average values are above $1m, FHBs managed to raise their...

First home buyers

January Video Thumbnail

Watch the CoreLogic Monthly Property & Economic Update for January 2019

This month we keep it nice and short, checking in on listings and sales volumes and musing possible LVR changes and the relevance of CVs.

Inconsistent growth across many of NZ’s main centres epitomises the 2018 property market

According to the December CoreLogic QV House Price Index, property values in New Zealand grew by 1.2% over the last three months, a minor reduction on the rate of growth at the end of November. A slight drop (-0.2%) in the Auckland index for December took the annual rate for all of 2018 into the negatives...

Watch the CoreLogic Monthly Property & Economic Update for December 2018

This month we keep it nice and short, checking in on listings and sales volumes and musing possible LVR changes and the relevance of CVs.

Best of the Best 2018

The Best of the Best report covers suburb-level measures used by CoreLogic to determine property market performance across the year, ranging from property value growth to rental yields. In addition to the material provided here, detailed suburb-level data can also be accessed via an interactive geographic...

What the 2019 property market could look like

It’s been another fascinating year for NZ’s property market in 2018. With volumes low (but stable) and values generally showing consistent growth across the country (expect for Auckland and Christchurch), a lot of the market interest has focused on government policy and measures to stifle property...

Investors continue to shrug off extra government measures

Investors remained active in the residential property market in November, according to the latest CoreLogic Buyer Classification data, which shows that they are not yet deterred by government measures such as the looming ring-fencing for tax relief on rental property losses. The recent momentum also makes it...

Property in popular holiday areas performs well

As thoughts turn to the anticipated end-of-year break, we were curious as to how property has performed in some of NZ’s key holiday areas. Generally speaking, the areas we’ve looked at have been busy in terms of sales, with days to sell reasonably low. On top of that, value growth has also tended to be pretty...