Property Market stories
The city was the only New Zealand region to post an annual fall, with sales also down 38.3% as buyers paused amid higher rates.
Borrowers face higher mortgage costs and further house price weakness as the Reserve Bank signals the OCR may peak around 4% by mid-2023.
Industry groups say Labor’s policies could ease affordability pressures after its weekend win made housing reforms more likely.
Tighter lending and higher mortgage costs have pushed first home buyers to a seven-year low, even as government support rules are loosened.
West Coast and Canterbury are still posting strong gains, but a surge in listings and weaker demand is cooling prices nationwide.
A $350-million proposal could bring 245 apartments to South Perth if planners back the 50-storey hybrid project.
Rising stock and tighter financing are cooling competition, with auction sales dropping sharply across New Zealand as buyers turn cautious.
Tighter credit and higher rates are leaving first home buyers more exposed, with some regions now showing early signs of vulnerability.
Vacancy rates are easing, but the shift to prime offices and hybrid work will keep reshaping property demand well beyond 2022.
Rising flood risk from climate change could erode home prices and threaten banking stability in New Zealand's coastal cities.
Stretched affordability and higher mortgage rates are pushing median values down in 154 suburbs, with Auckland and Wellington among the weakest.
Sharp falls never came, but tighter credit and rising mortgage rates now threaten to turn New Zealand's Covid-era property boom into a buyer's market.
New Zealand’s office, retail and industrial markets are expected to mirror Australia as Omicron peaks and border openings reshape demand.
More listings and weaker buying power are easing competition, even as national house prices climbed 13.5% to a record GBP £885,000 in February.
Record resale profits are still spreading nationwide, with 99.3% of homes sold in Q4 2021 making a gross gain, CoreLogic says.
Higher borrowing costs are cooling sales and slowing price growth, with more than half of NZ mortgages set to reset this year.
Office vacancies are set to rise as firms and staff keep embracing remote work, squeezing rents and delaying landlords’ recovery.
Sales volumes and price growth are easing, with REINZ figures showing weaker January activity and tighter lending weighing on buyers.
With one in four apartment blocks found to have defects, NSW has introduced a five-star system to flag risky developers before buyers commit.
Rising rates and tighter lending rules are likely to cool demand, with CoreLogic warning some fixed-rate borrowers could soon see repayments double.
