Research News

Every NZ suburb records positive property price growth in 2021

Despite COVID, snap lockdowns and border closures, Aotearoa’s widespread residential real estate resilience rolled on unabated in 2021, ending the year with value growth recorded across the entire country.

17 Jan 2022

Mortgage lending strong late in 2021, but 2022 could be different

The Reserve Bank’s November mortgage lending data showed banks remained busy towards the tail end of 2021. However, there are signs of an easing for low-deposit lending to owner-occupiers, and this will be a key trend to watch in 2022 as banks adjust to the new speed limit, Kelvin Davidson explores.

11 Jan 2022

More

New Vulnerability Index reveals New Zealand’s regions most at risk of a property downturn, and why

On the back of New Zealand’s record property price rises and deteriorating affordability, CoreLogic NZ has released a new Property Vulnerability Index, which analyses how an economic downturn or change in market conditions may impact property in different parts of the country.

What the OCR increase means for the property market

it was no surprise that the OCR was increased today, and by only 0.25% not 0.50%. In fact, in light of continued strength in the economic data (e.g. August filled jobs), and even taking into account still-considerable COVID uncertainty, the far bigger shock would have been no change.

Where it’s still cheaper to buy than rent for first home buyers

There are still several areas of NZ where a typical first home buyer (FHB) is likely to find paying a mortgage cheaper than renting. But there are certainly fewer areas than a year ago, with Porirua, Lower Hutt, Tauranga, and Tasman some examples of areas where paying a mortgage has switched from being lower...

Property market momentum continues to wane, tighter lending will further entrench slowdown

CoreLogic NZ’s House Price Index (HPI), which is the most complete and robust measure of property value change in the market, today showed values increased nationally by a further 1.4% during September. This was a reduction on August’s monthly growth rate of 1.6%, and is the fifth consecutive month of easing...

Mapping The Market Report confirms New Zealand’s widespread property value gains

CoreLogic NZ’s quarterly interactive Mapping the Market Report, compiled using the country’s most comprehensive property data, highlights the extraordinary price gains achieved nationally in the past year.

First home buyers solid for now, but outlook’s hazier

The latest lockdown has distorted the Buyer Classification data for August a little, but the more general trend is still downwards for mortgaged investors’ market share and stronger for first home buyers (FHBs). But the kēmu game may be about to change again for FHBs, as Kelvin Davidson explains.

New Zealand housing affordability declines again as property values grow 15 times faster than incomes

Record house price growth has led to rapidly declining affordability, with little sign of easing despite the recent introduction of regulatory constraints and rising mortgage rates.

Property market slowdown continued in August, but Covid resurgence could cause temporary reversal

CoreLogic’s House Price Index (HPI), which is the most complete and robust measure of property value change in the market, today showed nationwide values increased by a further 1.6% over August.

Record gains and very little pain for New Zealand property sellers

New Zealand home owners are pocketing a record level of gross profits from property resales as the country’s real estate market defies last year’s weak economic outlook. CoreLogic’s quarterly Pain & Gain report shows the proportion of properties being resold for a gross profit was 99.0% in the three months to...

Lockdown leads to a hold on cash rate

Given the move back to COVID alert level four it’s no surprise that the Reserve Bank (RBNZ) has chosen to delay an increase to the official cash rate (OCR). The rise could presumably happen as soon as there is a bit more certainty around lockdown, rather than necessarily needing to wait until the next...

First home buyers will soon need to save even longer

The move by the Reserve Bank to reduce the share of owner-occupiers that can get a mortgage with less than a 20% deposit will hit first home buyers pretty hard – they’ve been the ones taking the most advantage of the current rules. In this article Kelvin Davidson explores what this means for first home buyers...

Construction costs rise 2.2% in the three months to June, the fastest quarterly growth on record

CoreLogic’s Cordell Housing Index Price has revealed residential construction costs surged 2.2% in the June quarter, the largest increase recorded since the Cordell Building Indices began in 2012, and surpassing the previous peak of 1.9% in Q2 2017.

CoreLogic Dunedin

Market slowdown unfolding gradually as housing market proves stubborn but steady

CoreLogic's July House Price Index (HPI) showed nationwide values increased by a further 1.8% over July, the same pace of growth as June but down on both April and May. CoreLogic’s Head of Research Nick Goodall says the gradual pace of slowdown may give the RBNZ some comfort to raise the OCR, without it...