Research News

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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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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...

CoreLogic Dunedin

Property values across New Zealand’s major centres recorded a diverse performance in August

Property values across New Zealand’s major centres recorded a diverse performance in August, ranging from a 0.4% fall in Auckland to a 1.2% rise in Dunedin.

CoreLogic Auckland beach properties

The top suburbs for value growth since 2007

CoreLogic has identified that the 92 top performing suburbs for property value growth since the pre-GFC peak are all in Auckland, with Kelvin Heights (Queenstown) coming in as the number one non-Auckland suburb in 93rd position. According to research analyst Kelvin Davidson, whichever way you cut the data,...