March was the third month in a row that mortgaged investors had a market share of 29%, or in other words it has been a sustained ‘record’ peak for their property purchasing activity.
With the dust now settling a bit on the new policy measures aimed at investors, the evidence suggests that the effects on the market may not be as significant as initially thought.
Last week’s announcement from the Government aimed at tipping the market balance in favour of first home buyers has dominated media coverage of the property market, and with the latest data showing continued value growth, it would appear the heightened attention is justified.
It was no surprise that the Reserve Bank’s stats on overall mortgage lending activity were strong again in February.
Today’s housing policy changes announced by the Government were pretty bold, especially the move to stop interest deductibility against tax for investors.
'Mapping the Market' provides insight into how the value of property varies across cities, across the country, as well as how values have shifted over time in an interactive format.
For the second month in a row, mortgaged investors’ share of property purchases across NZ hovered at a record high in February, while the share going to first home buyers waned.
CoreLogic New Zealand’s latest Pain and Gain Report for Q4 2020 found profit-making residential property resales between October and December increased to 98.4%; 20 basis points higher than the previous record of 98.2% in Q4 2005.
From October to December last year, there were more than 10,000 property sales each month – a run of strength that hadn’t been seen since the first half of 2016. And although activity cooled a bit in January this year, it was still 2.5% higher than a year ago.
Monday 8th March was International Women’s Day, so with CoreLogic being a property data and analytics business, we have taken a detailed look at property ownership rates by gender across New Zealand and Australia.
CoreLogic’s latest comprehensive report, Women and Property: State of Play, provides an enlightening view of who is most engaged in the property market by gender, why the numbers break down as they do, and what institutions can do to promote higher rates of property ownership across the board.
The HPI for February 2021 shows nationwide property values continued to grow over the month, increasing by 2.6%.