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.
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.
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?
Tis soon to be the season of giving and cheer, a Little Ray of Giving is back for the 10th year.
This drive supports the Ronald McDonald House of Charities Organisation and is a great chance to give to families with a child in hospital.
This year we are accepting donations from the 23rd November - 14th December at all of our Ray White Eastern Group offices.
Every week, families arrive at hospitals away from their homes with a child in need of urgent medical treatment. Please donate today to provide accommodation, food and support to families with a child in hospital."- Ronald McDonald House Charities NZ
Details of how to donate gifts and participate in this charity drive can be found on Ray White Eastern Group's social media pages. The Ray White Eastern Group would like to thank you in advance for your support.
The Government has defined what it proposes will constitute a “new build” to be exempt from a major law change that prevents residential property investors from deducting interest as an expense when paying tax.
The Government proposes a property be considered “new” for 20 years from the time its code of compliance certificate is issued.
It proposes the exemption applies to properties that received this certificate on or after March 27, 2020, and the exemption applies to both the initial purchaser of the new build and any subsequent owner within the 20-year period.
It also proposes prefabricated houses and the conversion of existing dwellings into multiples dwellings be considered "new builds".