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, Taupō, focusing on affordable homes. The first stage of the development involves the construction of 62 houses by Penny Homes Limited, Tūwharetoa Settlement Trust, and...
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 fixed rates between +10 and +20 bps (basis points). Despite these increases, Heartland Bank maintains the market-leading position, except for their three-year offer, which is...
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 affordability for first home buyers. The national lower quartile residential selling price remained approximately at $600,000 in March. Minor monthly movements in prices have...
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 4.7% but still above the 1-3% target range. Despite inflation concerns, the Official Cash Rate (OCR) looks set to stay put, with further cuts potentially delayed until 2025....
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 customer protections. The changes are part of the National-ACT Coalition agreement to update the Credit Contracts and Consumer Finance Act (CCCFA). Commerce and Consumer Affairs...
New Zealand Real Estate Agencies Earn Estimated $399M in Commissions Despite Housing Market Uncertainties
Key Facts There has been no significant growth in the real estate industry's residential commission revenue over the past year. Real estate agencies throughout New Zealand are estimated to have earned about $399 million in gross residential sales commissions in Q1...
First Home Buyers
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...
Reserve Bank Data Shows First Home Buyers’ Share of Mortgage Money at High Levels While Investor Share Increases Slightly in January 2024
Key Facts The housing market saw a 23% year-on-year rise in mortgage advances for January 2024,...
Current Home Owners
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...
New Zealand Housing Market Experiences Soft Start in the First Quarter of 2024
Key Facts The New Zealand housing market saw a soft start in the March quarter, with CoreLogic's...
Rising Mortgage Rates Pressure New Zealand Homeowners as Residential Listings Surge
Key Facts The cost of living crisis is causing discomfort among Kiwis with mortgages due to...
Non-Performing Housing Loans in NZ Reach a 10-Year High Amid Rising Mortgage Stress
Key Facts Non-performing housing loans in New Zealand increased more than 10% in the past month...
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
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...
New Zealand Real Estate Agencies Earn Estimated $399M in Commissions Despite Housing Market Uncertainties
Key Facts There has been no significant growth in the real estate industry's residential...
Annual Inflation in New Zealand Drops to 4%, Despite Rising Household and Property Costs
Key Facts New Zealand's annual inflation rate dropped to 4% in March, down from 4.7% in...
Housing Market Experiences Slump as Unsold Properties Surge Despite Seasonal Increase in Activity
Key Facts The housing market in New Zealand is currently unstable with sales levels below new...
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...
Recent News
Affordable Housing Project Advancing in Taupō, with 38 Homes Under Initial ProposalConstruction, First Home Buyers26/04/2024
Heartland Bank Raises Home Loan Rates But Still Leads Market, Despite Strong SBS Three-Year OfferMortgage Rates24/04/2024
Rising Incomes and Falling Mortgage Interest Rates: A Hopeful Sign for First Home Buyers Despite Flat House PricesFirst Home Buyers24/04/2024
Slowing Inflation Doesn’t Hasten Interest Rate Cuts, Homeowners Hopeful for Lower Mortgage Rates in 2025Economy23/04/2024
NZ Government Announces Financial Services Reform to Improve Home Loan Access and Strengthen Customer ProtectionsCurrent Home Owners22/04/2024