Property Market stories
A further NZD $150m in funding will help Auckland developers meet surging demand, with some homes already sold off-plan to waiting buyers.
Lockdown has not cooled demand, with New Zealand house prices hitting another record as spring listings are delayed and buyers stay active.
Property deals are being slowed by fresh restrictions, but Colliers expects demand to recover quickly once alert levels ease.
Affordability pressures are starting to bite, with Hamilton and Rotorua both posting quarterly falls after a rapid run-up in values.
Online property traffic is staying strong during New Zealand's Level 4 lockdown, as buyers browse listings and sellers turn to virtual appraisals.
Borrowers face higher repayments and tighter credit as rate rises, though lockdown likely postpones the Reserve Bank’s next move.
The franchise's headquarters will move to Manawatu after Tim Kearins bought Derryn Mayne's 25% stake in Century 21 New Zealand.
The sector now employs nearly 200,000 people and accounts for 15% of New Zealand’s GDP, according to new industry analysis.
New records in prices and sales show demand is still outpacing supply, despite efforts to cool New Zealand's property market.
Stronger-than-expected demand is tightening yields and lifting values, with industrial and large-format retail assets in New Zealand most resilient.
Values are already falling in Gisborne, New Plymouth and Napier as nationwide house-price growth cools and rate rises loom.
Australia will need about 500,000sq m of extra industrial space a year as e-commerce pushes vacancy rates tighter and lifts rents.
Developers in NSW face a new levy on land value uplift as the state seeks to fund infrastructure and future housing growth.
Cheaper provincial suburbs have driven New Zealand's property boom, with Manunui up 51.8% and Hargest selling in just six days.
Rising lending restrictions and tax changes are already cooling demand, though some agents say Treasury’s flatlining forecast may be too gloomy.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
Sales fell by more than 2,500 from March as investors and first-time buyers took a wait-and-see approach to tighter lending rules.
Signs of cooling are emerging as quieter open homes and more auctions passing in are expected to slow gains after a red-hot year.
Investor borrowing has already been curbed, as new housing rules begin to slow sales and cool the market further in 2021.
Investors in Manawatu/Wanganui saw 25.3% capital gains and 4.0% yields, making it the country’s standout residential market.
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