Property Market stories
New Zealand’s office, retail and industrial markets are expected to mirror Australia as Omicron peaks and border openings reshape demand.
More listings and weaker buying power are easing competition, even as national house prices climbed 13.5% to a record GBP £885,000 in February.
Record resale profits are still spreading nationwide, with 99.3% of homes sold in Q4 2021 making a gross gain, CoreLogic says.
Higher borrowing costs are cooling sales and slowing price growth, with more than half of NZ mortgages set to reset this year.
Office vacancies are set to rise as firms and staff keep embracing remote work, squeezing rents and delaying landlords’ recovery.
Sales volumes and price growth are easing, with REINZ figures showing weaker January activity and tighter lending weighing on buyers.
With one in four apartment blocks found to have defects, NSW has introduced a five-star system to flag risky developers before buyers commit.
Rising rates and tighter lending rules are likely to cool demand, with CoreLogic warning some fixed-rate borrowers could soon see repayments double.
First-home buyers are feeling the pinch as tighter lending rules help push New Zealand’s median house price down 1.6% in December.
First-home buyers are being refused finance after going unconditional, as tougher bank rules and lending checks squeeze borrowing.
Rising rates and tighter lending rules could cool New Zealand’s housing boom in 2022, after values topped GBP £1m nationally for the first time.
Rising listings in New Zealand are set to ease price pressures, with Wellington and Dunedin already shifting towards a buyer's market.
Tighter credit and more listings are likely to keep house price gains easing as annual growth slips for the first time since August 2020.
Record rents are keeping first-home buyers in the market, with mortgage payments still cheaper than paying to rent for many Kiwis.
Its portfolio value rose to GBP £3.5 billion as occupancies stayed near full and new build-to-rent projects were launched despite lockdown pressures.
Record-low losses and near-universal gains in New Zealand’s housing market are being driven by tight supply, strong demand and cheap borrowing.
New Zealand’s median house price climbed by NZD $100,000 in October, with 10 regions hitting record highs amid tight supply and strong demand.
Rising mortgage costs and tighter lending rules are expected to cool the market, even after values posted their first monthly acceleration in six months.
Higher mortgage rates and tighter lending rules are already cooling New Zealand’s housing market, with investor demand slipping further.
Property values rose 1.4% nationally in September, but activity is easing as tighter lending and higher rates weigh on buyers.
