Research News

Property values in New Zealand continued to grow at a modest pace for the 13th month in a row

The November CoreLogic QV House Price Index found that property values in New Zealand grew by 1.3% over the last three months. Auckland remains a key influence and while its quarterly growth hit the positives (0.1%) for the first time this spring, the long term trend of no effective growth in two years continues to illustrate the widespread unaffordability in our largest city.

5 Dec 2018

Watch the CoreLogic Monthly Property & Economic Update for November 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.

20 Nov 2018

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Watch the CoreLogic Monthly Property & Economic Update for October 2018

This month Nick poses the question about whether we’ve hit a floor in sales volumes, checks out days to sell and also covers the latest from the Tax Working Group, ponders the RBNZ’s position on LVR restrictions and gives a quick mention for KiwiBuild now the ballot for the first release has closed.

Moving in

First home buyers are still finding a way into the market

First home buyers grew to 24% of all residential property purchases across NZ in Q3 2018, from 18% four years ago. Such growth means that for the first time, they now hold equal market share with mortgaged multiple property owners. Despite high prices, first home buyers are still managing to find a way to...

The NZ Property Market for a developer’s perspective

This week, CoreLogic hosted 22 of Australia’s leading developers from the Queensland Urban Development Institute of Australia Study Tour in Auckland. The group received insightful commentary on the NZ market, delivered by keynote speaker: Head of Research, Nick Goodall. This was followed by a Q&A session,...

Infill Housinig

Auckland housing supply: some good things, some bad

A recent ‘on-the-ground’ tour around Auckland revealed that new housing construction is moving ahead with infill development a rising trend. KiwiBuild will help to drive even more infill housing, making more efficient use of inner city land (not to mention removing some poor quality housing). However, new...

Home Buyer Keys

KiwiBuild price caps: how do they compare to actual paid prices?

In the year to date, the median prices paid by first home buyers for two or three-bedroom properties in Auckland, Queenstown and Wellington have been above the KiwiBuild caps. That potential “discount” from buying a KiwiBuild property makes it easy to see the scheme’s appeal to buyers, and that’s before you...

Waikato River Hamilton

Property values in Auckland and Christchurch continue to track sideways, while other main centres sprang into action in September.

The September CoreLogic QV House Price Index illustrates there are still pockets of strength in the market as NZ heads into the warmer (and often more popular) months for market activity. While some of the macro-economic factors (GDP growth, net migration) which influence the property market are weakening, we...

Spring lambs

Spring bounce in property listings evident, but how strong?

The traditional spring bounce for new property listings has begun, and it’s no surprise that those parts of NZ with already high stock levels (e.g. Auckland) are experiencing softer property value growth. Affordability pressures for buyers is just one factor indicating that the rise in listings over spring...

Watch the CoreLogic Monthly Property & Economic Update for September 2018

This month we take a detailed look into the growth in values, or lack of, around the country. We also consider the listing situation now that we've hit spring and briefly touch on KiwiBuild.

CoreLogic Moving In

Rents haven’t been outpacing property costs or people’s wages

A simple comparison of rents vs. property ownership costs suggests that landlords are generally trying to keep the two aligned, but sometimes they have to accept minimal rental growth due to the underlying anchor of wage growth (i.e. what tenants can actually afford). This isn’t currently deterring them, with...

Hurricane Florence could unleash storm surge damage on nearly 759,000 homes, early CoreLogic analysis shows.

As Hurricane Florence looms, CoreLogic has released data analysis showing the potential risk of storm surge damage, including an estimated reconstruction cost and commentary on how this could impact NZ insurance premiums.

First Home Buyers with dog

First home buyers and investors still keen to buy

The share of residential property purchased by first home buyers and investors was solid again in August, albeit the overall volume of market activity is still relatively low. There are signs, however, of a pick-up in credit flows, which could signal an improvement in transactions in the coming months.

How does the bank value your home for a mortgage?

It would be an interesting analysis to do: how many current property owners are enjoying their property asset value gains through shrewd planning, and how many are enjoying it through sheer luck. Problem is, not many people would be willing to admit to it. One man has. This is his story, and in telling it, we...

Westport

NZ’s lowest 50 suburbs for value growth since 2007

Following last week’s top 50, CoreLogic has now looked at the lowest 50 NZ performers for changes in property values since the pre-GFC peak. The West Coast features often in this list (reflecting weak population growth), as does the Far North (relatively high unemployment challenges). The good news is that...