Rising Interest Rates and Stubborn Inflation Poses Challenge for NZ Housing Market and Businesses
Key Facts The Reserve Bank increases interest rates to fight inflation which leads to decreased consumer spending. Many households are currently experiencing financial strain due to the central bank's decision, however, this is not the goal. Currently, businesses are...
Decline in Housing Market Participation by Migrants with Residence Visas Noted in Q1 2024
Key Facts Migrants' share of the New Zealand housing market decreased slightly in Q1 2024, accounting for 13.1% of total dwelling purchases. This number represents a fall from the 14.0% market share in Q4 2023, marking the second decline in a row. In Q1 2024, 3636...
Auckland Housing Market Likely to Remain Soft Despite Surge in Migration, Predicts ANZ Report
Key Facts ANZ Property Focus report suggests that the Auckland housing market may remain weak over winter. Auction clearance rates and sales-to-listings ratios suggest that Auckland house prices may soften further in the short term. Despite receiving the majority of...
Living Costs for NZ Households Rise by 6.2% due to Increases in Interest Payment, Insurance, and Transport Costs
Key Facts The cost of living for New Zealand households increased by 6.2% in the year to March quarter. Interest payments on debt surged 28% over the same period. Other major contributors to living costs were rent, private transport supplies and services, and...
Residential Auction Sales Rate Stabilises Despite Drop in Sales in Waikato and Bay of Plenty
Key Facts Auction rooms for residential properties were busy last week, with 364 properties being auctioned, up from 345 the previous week but significantly lower than 500 a week during peak selling season. The sales rate has remained consistent over the last five...
Christchurch Homeowners Hesitate to Upgrade Due to Rising Interest Rates and Living Costs
Key Facts Increased interest rates and living costs are causing Christchurch homeowners to hesitate on climbing the property ladder. Property listings in Christchurch have increased by 20%, but buyer numbers haven't risen at the same pace. EasyStreet Mortgages adviser...
First Home Buyers
Rising Personal Debt Forcing Most Families Out of Rent-to-Own Housing Schemes
Key Facts Increasing levels of personal debt are barring people from rent-to-own housing schemes...
Affordable Housing Project Advancing in Taupō, with 38 Homes Under Initial Proposal
Key Facts A new housing development is progressing in the East Urban Lands area of Wharewaka,...
Rising Incomes and Falling Mortgage Interest Rates: A Hopeful Sign for First Home Buyers Despite Flat House Prices
Key Facts Rising incomes and falling mortgage interest rates are significantly impacting the...
Auction Activity Declines as New Zealand Housing Market Enters Autumn
Key Facts Auction activity in the residential property market saw an increase last week, but the...
Moving Up the Property Ladder Remains Affordable for Established Homeowners Despite High Mortgage Rates
Key Facts Latest data highlights the affordability of moving up the property ladder for existing...
First Home Buyers Paying Less for Homes as Low Equity Lending Increases
Key Facts The average amount paid by first home buyers in New Zealand for a house in January...
Current Home Owners
Decline in Housing Market Participation by Migrants with Residence Visas Noted in Q1 2024
Key Facts Migrants' share of the New Zealand housing market decreased slightly in Q1 2024,...
Auckland Housing Market Likely to Remain Soft Despite Surge in Migration, Predicts ANZ Report
Key Facts ANZ Property Focus report suggests that the Auckland housing market may remain weak...
Christchurch Homeowners Hesitate to Upgrade Due to Rising Interest Rates and Living Costs
Key Facts Increased interest rates and living costs are causing Christchurch homeowners to...
NZ Government Announces Financial Services Reform to Improve Home Loan Access and Strengthen Customer Protections
Key Facts The New Zealand government announced reforms to simplify lending and strengthen...
Property Investors
New Zealand Government Announces Rental Rule Changes to Encourage More Landlords Into the Market
Key Facts New legislation affecting renters and landlords is set to be introduced to Parliament...
Slowdown in Major Urban Property Market Growth, Auckland Values Decline: Q1 Report
Key Facts The average value of New Zealand homes increased by 2.2% to $924,734 over the first...
“Mild Increase in New Zealand Housing Values in Q1 2024 Amid High Mortgage Rates”
Key Facts The average value of New Zealand homes was $934,806 in Q1 of 2024, a 1.1% increase...
March Auction Boom Records High Property Listings but Lower Sales Rates
Key Facts Auctions of residential properties in the last week of March were high at 527, down...
Mortgage Rates
Heartland Bank Raises Home Loan Rates But Still Leads Market, Despite Strong SBS Three-Year Offer
Key Facts Heartland Bank, known for its competitive home loan rates, has increased all their...
Inflation Worries as Majority of Mortgages Bet on Interest Rate Reduction Amid Rising Construction Costs
Key Facts Reserve Bank of New Zealand (RBNZ) projects a 0.4% quarterly rise in the Q1 Consumer...
ASB and Westpac Trim Home Loan Rates, Expectations of No Changes for Upcoming RBNZ Review
Key Facts ASB has made minor cuts to some home loan rates in response to Westpac's targeted cut...
Mortgage Stress Looming for Majority of Kiwi Homeowners amid Rising Rates and Housing Market Shifts
Key Facts 59% of existing mortgages in New Zealand are due for repricing within the next year,...
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The Economy
Rising Interest Rates and Stubborn Inflation Poses Challenge for NZ Housing Market and Businesses
Key Facts The Reserve Bank increases interest rates to fight inflation which leads to decreased...
Living Costs for NZ Households Rise by 6.2% due to Increases in Interest Payment, Insurance, and Transport Costs
Key Facts The cost of living for New Zealand households increased by 6.2% in the year to March...
Residential Auction Sales Rate Stabilises Despite Drop in Sales in Waikato and Bay of Plenty
Key Facts Auction rooms for residential properties were busy last week, with 364 properties...
Slowing Inflation Doesn’t Hasten Interest Rate Cuts, Homeowners Hopeful for Lower Mortgage Rates in 2025
Key Facts The CPI inflation rate dropped to 4% in Q1 2024, a slight decrease from last year's...
Construction
Affordable Housing Project Advancing in Taupō, with 38 Homes Under Initial Proposal
Key Facts A new housing development is progressing in the East Urban Lands area of Wharewaka,...
Stabilising Residential Construction Costs Lower Risk of New Build Cost Overruns
Key Facts Residential construction costs have risen by only 2.3% in the year to March,...
New Zealand to Automatically Approve Overseas Building Materials to Reduce Construction Costs
Key Facts A legislative change to the Building Act in New Zealand will allow the automatic...
New Zealand Sees Significant Decline in New Home Consents, Non-Residential Construction Shows Resilience
Key Facts The number of new homes consented in the year to February fell by 24.8% compared to...