Regionally New Zealand

Across New Zealand, 11 regions reported asking price increases from April, most significant Manawatu/ Wanganui region up 11.9%. Other areas with increases were Northland, Coromandel, Wellington, Nelson, Otago and Southland. Most regions saw a decline in listings coming to the market compared to last year, with the exceptions of the Central North Island. [Data: NZ […]

NEW LISTINGS

In May the level rose in properties coming onto the market by 5.9%, however it is still down by 7.2% on last year. In the last 12 months, 131,053 new listings have come onto the market up 1%, REINZ reports sales up 17% on the same 12 month comparison. The inventory of unsold houses on […]

Asking Prices

Seasonally truncated mean asking price rose 4.3% from May 2012. For those of you interested in statistics, there has been a lot written recently regarding the accuracy of the mean pricing as a true indication as to the state of the housing market and prices. A truncated mean is considered a more accurate measure than […]

The Housing Market

The message is loud and clear buyers are still out there and very keen to have a home. The lack of supply and high asking prices continues to drive seller’s expectations and confidence when selling. This rise in asking price is now not isolated to Auckland and Christchurch, which to be honest we had become […]

What is driving house prices ?

1. Record House Prices- in May $454K 2. Historic Low Interest rates 3. Official Cash Rate (OCR)- Not expected to rise until next year 4. Mortgage Approvals – Bank approvals are up 13% on same time last year 5. Immigration neutral – Fewer Kiwis leaving for Australia 6. Building Consent – Increased strength in construction […]

NEW LISTING REPORT -APRIL

The number of new listings fell to 10,023, down 21.5% on March and down 1.5% year on year. In the main centres, both Auckland and Canterbury experienced an increase in listings when compared to April last year of 9.3% and 0.8% respectively and Wellingtons figure fell by just 1.9%. The next 3 months are traditionally […]

PROPERTY MARKET REPORT- NOTHING NEW

The property market continues to show signs of confidence and heightened activity as compared to the past few years. The confidence amongst sellers bringing their properties onto the market has pushed up the (seasonally adjusted) truncated mean asking price to a new high of $447,275 – the highest level since the collection of data began […]

OFFICIAL CASH RATE & INTEREST RATE

No prediction for an increased OCR; Tony Alexander BNZ Economist reports that household debt grew only 0.4% in March and that has been the rate of growth for almost all of the months since July last year. We also get a benign inflation outlook which suggests no change upward in the official cash rate until […]

THE NZ ECONOMY

As predicted the housing Markets in Auckland and Christchurch have resulted in an intervention by the Reserve Bank, this has not been seen since 2007. First National Real Estate raised these concerns last month within the media across the country in their Press Release. Median prices only show where the market is performing- First National […]

REAL ESTATE – MARKET AND STATISTICS

In February 2012 REINZ reported 6,632 dwellings sold around New Zealand which was a rise of 7.5% from a year earlier and rough seasonally adjusted change near zero. Sales growth appears to be plateauing. Prices are rising, however the rise in the past three months has been 0.7% from a 2.8% rise three months ago, […]

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