Astonishing increases in housing values with average values in some places rising by more than $50,000 in a month

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RBNZ targets residential property investors with new high LVR restrictions: Most investors to need 40% deposits and most owner-occupiers 20% deposits

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Massive annual increase in both the number of properties auctioned and the sales rates achieved in January

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Residential construction continues to rocket ahead but non-residential construction is still a bit slow

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Fourth quarter inflation expected to be low due to Covid-19 disruptions

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Westpac economists expect annual house price inflation will peak at 20% later this year, 'which is not an environment conducive to further OCR cuts'

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House prices double over past decade in some parts of the country

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Covid-19 contributes to shortage of plumbing, electrical and glass supplies

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Buying first home will be out of reach for more people in 2021 - CoreLogic

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Buying first home will be out of reach for more people in 2021 - CoreLogic

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Average house price hit $788k in December

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New Zealanders spend $12 billion more on residential property in 2020

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Astonishing increases in housing values with average values in some places rising by more than $50,000 in a month

by Greg Ninness
The average value of all homes throughout New Zealand increased by $21,275 in February, while the average value of Auckland homes increased by $34,124 for the month.
Those extraordinary growth figures are from property data company CoreLogic's House Price Index, which tracks the valuations of homes throughout NZ based on sales data over the previous three months.

2 March 2021, 11:00:00 am

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RBNZ targets residential property investors with new high LVR restrictions: Most investors to need 40% deposits and most owner-occupiers 20% deposits

by Jenée Tibshraeny
The Reserve Bank (RBNZ) is cracking down on bank lending to residential property investors, announcing it will reinstate tougher loan-to-value ratio (LVR) restrictions than were in place last year. From May 1, at least 95% of new bank lending to residential property investors will have to go to borrowers with deposits of at least 40%.

8 February 2021, 11:00:00 am

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Massive annual increase in both the number of properties auctioned and the sales rates achieved in January

by Greg Ninness
Auction room activity started 2021 with a hiss and a roar, with auction numbers and sales rates both up substantially compared to January last year.
Auctions were particularly strong in Auckland where interest.co.nz monitored 214 auctions in January, up from just 76 in January last year.

5 February 2021, 7:30:00 pm

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Residential construction continues to rocket ahead but non-residential construction is still a bit slow

by Greg Ninness
Residential construction shows no sign of slowing down with the number of new homes consented hitting a record high in the fourth quarter of last year.
According to Statistics NZ, 11,291 new dwellings were consented in the fourth quarter of 2020, surpassing the previous quarterly record of 10,713 set in 1973.
That took the total number of new homes consented last year to 39,420, up 4.8% from 2019, which is impressive given that 2020's figures were affected by the COVID-19 lockdowns.

3 February 2021, 10:55:00 pm

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Fourth quarter inflation expected to be low due to Covid-19 disruptions

Disruptions caused by the ongoing pandemic are expected to be reflected in the fourth quarter inflation data to be released later today.
Economists were expecting the December quarter Consumer Price Index to be flat or up slightly on the September quarter, in a range of 0.0 to 0.3 percent.
Annual inflation was expected to be in a range of 1.0 to 1.4 percent, which was well below the midpoint of the Reserve Bank's 1.0 to 3.0 percent target range.

21 January 2021, 7:00:00 pm

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Westpac economists expect annual house price inflation will peak at 20% later this year, 'which is not an environment conducive to further OCR cuts'

by David Hargreaves
Westpac economists have joined what now appears a surging tide of economists no longer expecting the Reserve Bank to cut official interest rates this year.
Not very long ago at all the broad expectation in the marketplace was that the RBNZ would early this year take the Official Cash Rate down from the current 0.25% levels into minus territory.

21 January 2021, 12:30:00 am

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House prices double over past decade in some parts of the country

In the last 10 years, the value of property has doubled in some areas of New Zealand.
Figures released by realestate.co.nz show between 2011 and 2020 the asking prices for some properties went up by more than 100 percent.
The biggest increase was for the small Bay of Plenty district of Kawerau, where the average asking price went up 132 percent.
But strong rises were also seen in Central Hawke's Bay, Hamilton, Waitakere, and Central Otago.

19 January 2021, 12:00:00 am

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Covid-19 contributes to shortage of plumbing, electrical and glass supplies

Nicholas Pointon, Business journalist
@nichpointon nicholas.pointon@rnz.co.nz
A shortage of building supplies is preventing the construction sector from delivering projects on time and within budget.
Plumbing, electrical and glass suppliers are reporting difficulties getting their hands on basic materials because supply lines had been stretched by the pandemic.

18 January 2021, 5:00:00 pm

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Buying first home will be out of reach for more people in 2021 - CoreLogic

Jean Bell, Journalist
jean.bell@rnz.co.nz
There are fears more people will be locked out of the New Zealand property market in the coming year, as house prices grew at a record rate for the second consecutive month.
Property research firm CoreLogic's house price index rose 2.6 percent in December, with the average property price hitting $788,967.

5 January 2021, 9:00:00 pm

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Buying first home will be out of reach for more people in 2021 - CoreLogic

There are fears more people will be locked out of the New Zealand property market in the coming year, as house prices grew at a record rate for the second consecutive month. Property research firm CoreLogic's house price index rose 2.6 percent in December, with the average property price hitting $788,967.

That eclipses November's record, when prices grew at their fastest level in 16 years.

5 January 2021, 11:00:00 am

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Average house price hit $788k in December

House prices grew at a record rate for the second month in a row.
Property research firm Core Logic's house price index rose 2.6 percent in December, with the average house price hitting $788,967.
The rise eclipses November's record, when prices grew at their fastest level in 16 years.
The index was up more than 11.1 percent on a year ago.

5 January 2021, 5:00:00 am

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New Zealanders spend $12 billion more on residential property in 2020

The annual review of New Zealand’s residential property market in 2020 has shown a 24.7% increase in overall spend from $48.7b for the 11 months ending November 2019 compared $60.8b for the 11 months ending November 2020, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.

22 December 2020, 11:00:00 am

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