The latest edition of Ray White Now is here! Although delayed, these real estate insights are still very much applicable to the current market.
While changes have occurred in the confidence of buyers and sellers to transact real estate across New Zealand, the ability to borrow money has seen a continued lowering of barriers over the past month. Rising interest rates remain on the agenda of the Reserve Bank, with last week’s announcement of a .75 basis points lift in the Official Cash Rate, which now sits at 4.25%. Read and share more of this insights with the links below.
Ray White Now - November 2022
The national average asking price for a property has dropped for six consecutive months for the first time on record, according to the latest Trade Me Property Price Index.
In September, Trade Me Property Sales Director Gavin Lloyd said the national average asking price was $896,200. “When compared with the month prior, this marks a drop of $3,000 and puts New Zealand’s average property price at its lowest since October 2021.”
Read Trademe's Property Pulse Report here.
We present Ray White Now for September 2022 - latest trends & market update.
We proudly present New Zealand real estate insights in real-time; Ray White Now July.
The housing market slump shows no signs of easing, with the nationwide average property value dropping 3.6% in the last three months. Auckland's average property value was down a relatively modest 4.4% over the three months to the end of July - it's fifth successive quarterly decline since end of March - and is up just 5.1% year on year. Could now be the time to buy?
Read report here
Each month Tony Alexander prepares a document called Regional Property Insights in which he looks at developments in residential property markets for each region around New Zealand. This month Tony looks at price trends for many of each region's local authority areas to highlight the differences which can exist within a region.
Load Tony Alexander's Report
The house price gains of 2021 are in danger of being wiped out, with the latest figures from the OneRoof-Valocity House Value Index pointing to the steady erosion of property values across much of the country.
The nationwide average property value fell 2.9% in the last three months to $1.064 million - $21,000 below where it was at the start of the year.
Read report here
Property values are tumbling across the country, with house prices in most of New Zealand's major cities suffering sharp falls. The latest figures from OneRoof-Valocity House Value Index show steep declines in Auckland, Dunedin, Hamilton, Tauranga and Wellington.
It remains difficult to get an accurate indication of market conditions. It is clearly a property-by-property proposition and is largely determined by our results and clearance rates. Auction remains the highest success rate we have within our marketing. 54.6% of all property is selling before, under the hammer, or directly after, in line with the auction process.
Read Ray White Now
REINZ December sales data rounds off a strong year in the New Zealand property market, with price and activity holding strong and steady.
Dubbed 'the year of property politics', 2021 has given us plenty to talk about.
From sharply rising property prices, to increasing mortgage and cash rates, and a seemingly constant stream of regulatory pressures and government interventions, 2021 has had it all.
CoreLogic NZ has just released the Best of the Best 2021 report; the most comprehensive analysis of residential property in the country. So which suburbs were the country's top performers? And what's on the horizon for 2022?