The December quarter CHIP report showed that construction costs rose by 0.4%, down slightly from 0.6% in Q3 and also the smallest quarterly rise since Q2 2016 (0.3%).
CoreLogic today announced it has joined Investor Group on Climate Change (IGCC) Australia/New Zealand.
The CoreLogic Buyer Classification figures for January are in and they show that the Reserve Bank was on firm ground in raising deposit requirements for investors.
Property prices rose strongly in the second half of 2020 and now rents have started to accelerate too – especially at the lower end of the market, where growth was about 9% last year.
On the back of a favourable starting point for housing affordability, property value growth has recently accelerated across Christchurch as well as Waimakariri and Selwyn.
The New Zealand residential property market has continued to grow in the first month of 2021, though at a reduced rate relative to last month.
Our Property Market & Economic Update for the December 2020 quarter cements evidence from a number of market indicators that investor demand has surged back to 2016 levels, prompting speculation that further intervention by government and regulators might be needed to rebalance buyer activity.
Queenstown was the only main part of the country to really see any noticeable drop in property values after lockdown, but those falls have now been reversed.
The NZ property market has shown no signs of letting up through the final month of the year, with near-record growth registered across the country, according to the most complete and robust measure of property value change, the CoreLogic House Price Index (HPI).
Given that property listings are likely to remain tight into 2021, and that low interest rates are both encouraging borrowing and reducing the incentive to hold cash in the bank, the direction of travel for the housing market will probably remain upwards for at least the first half of next year (assuming no...
New Zealand is in the middle of an unexpected, unpredicted property boom – so who is getting the biggest Christmas present in the form of equity increases?