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6 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Auction activity around the country continues to decline in line with the change of seasons. Over the week of 3-9 May, interest.co.nz monitored the auctions of 252 residential properties. That was the lowest number so far this year (excluding the New Year shoulder weeks) apart from the short week in between the Easter and Anzac long weekends.
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6 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Inland Revenue (IRD) says it has uncovered more than $150 million in undeclared taxes from property developers and investors as a result of a crackdown on their behaviour. The taxes were mostly undeclared income tax and GST which were discovered after the Government gave IRD more money in last year's budget to beef up its compliance work.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Property / analysis Large fall in the estimated build costs of retirement village units possibly signals a shift towards more affordable housing in the retirement sector 8th May 25, 10:16am by The average estimated construction cost of the new homes consented throughout New Zealand has been in a slow but steady decline since the second quarter (Q2) of last year. Interest.co.nz's latest quarterly analysis of Statistics NZ's building consent figures shows the average estimated build cost...
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Property prices and most other housing indicators are falling as autumn takes hold of the market. According to Trade Me Property's Property Price Index, the average asking price for properties available for sale on the website in April was $855,150. That was down 0.8% compared to March, and down 2.6% from April last year. The biggest decline was on the West Coast of the South Island where the average asking price in April fell 7.4% from March.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The number of new homes completed in Auckland during February fell heavily, both month-on-month and year-on-year. The latest Auckland Council figures show the Council issued 899 Code Compliance Certificates (CCCs) for new dwellings in February. That's down from 1291 in January (-30.4%), and down even further from 1583 (-43.2%) in February last year.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Barfoot & Thompson posted some mixed results in April, with sales volumes at a four year high while prices were in decline and total stock levels hit a 17 year high. The agency, which is the biggest in the Auckland market, sold 842 residential properties in April, which was up 19.6% on April last year and the best sales result the agency has achieved in the month of April since 2021. However, prices headed in the opposite direction.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
A jump in the number of new homes consented in March may signal an end to the downward slide in new residential construction that has occurred over the last two years. According to Statistics NZ, 3398 new dwellings were consented throughout the country in March. That's up 15.9% compared to March last year, and was the highest number of new dwellings consented in any month of the year since June 2023.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Residential auction activity is definitely on the wane, as the housing market moves further away from the peak summer season and into the slower autumn/winter months. Over the week of 26 April to 2 May, interest.co.nz monitored the auctions of 324 residential properties around the country. Although that was up from 196 the previous week, that week's results were particularly low because it was a three day week wedged in between the Easter and Anzac long weekends.
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2 weeks ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The housing market is likely to favour buyers even more over winter, as vendors drop their asking prices to try and achieve a sale and buyers can choose from a mountainous stock of properties for sale. The April data from property website Realestate.co.nz shows the national average asking price of residential properties on the site declined for the second month in a row in April to $851,746, down from $884,995 in February. That's a decline of $33,249 (-3.8%).
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2 weeks ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The national median dwelling value increased by 0.3% in April to $819,096, according to property data company Cotality (formerly CoreLogic). That put it up 0.87% over the three months to April, but down 2.02% compared to April last year. Queenstown-Lakes is the most expensive district in the country with a median value of $1,658,111, although values there have declined on both a monthly (-0.95%) and quarterly (-1.46%) basis.
