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5 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The housing market appears likely to remain overstocked over winter which is likely to continue keeping a lid on prices. The latest listing figures from Realestate.co.nz show that there were 34,415 residential properties available for sale on the website at the end of May, up 5.6% compared to the same time last year. That is the most stock that's been available for sale on the website in the month of May in 11 years.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Auction activity eased off a bit in the final week before the official start of winter. Interest.co.nz monitored the auctions of 359 residential properties around the country over the week of 24-30 May, down from 416 the previous week. Of the 359 properties on offer, 137 sold under the hammer, giving an overall sales rate of 38% which was little changed from the previous few weeks.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The total annual value of building work consented declined from $28.569 billion in the 12 months to April last year, to $26.920b in the 12 months to April this year, a drop of $1.649b (-5.8%) for the year. However, the rate of decline in the value of building consents is slowing considerably after a decline of $3.569b in the year to April 2024.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
"The housing market is slowly lifting but it's certainly not going anywhere fast," according to ANZ's latest Property Focus Report. "Forward looking indicators continue to point to the housing market staying fairly steady, with rising demand being largely matched by supply," it says.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Although there was a substantial jump in the number of new homes completed in Auckland in March, the overall trend still shows a decline in new home completions in the region. Auckland Council issued 1255 Code Compliance Certificates (CCCs) for new dwellings in March, after they slumped to 899 in February.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Rental yields and cash flows on residential investment properties both improved in the first quarter of this year, but remain at low levels in many parts of the country.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
More and more first home buyers are taking out low equity mortgages to get into a home of their own. In April, 2695 mortgages were approved to first home buyers, according to the latest Reserve Bank figures. Of those, 1095 (40.6%) were low equity loans where the borrower had less than a 20% deposit and the mortgage was for more than 80% of the property's valuation.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Young people under 20 years of age and older people aged 50 or older are making up an increasing share of migrants receiving residence visas. According to the latest Ministry of Business Innovation and Employment (MBIE) figures, 53,784 residence visas were approved in the 12 months to the end of April. Of those, 14,688 (27.3%) recipients were aged under 20 years, and 5451 (10.1%) were aged 50 or older.
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2 weeks ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The week of 17-23 May saw a jump in auction activity, with 416 residential properties offered at the auctions monitored by interest.co.nz, up from 259 the previous week. The increased activity was likely the result of vendors holding off from listing their properties in April to avoid the disruption of the Easter and Anzac Day long weekends, then listing their properties at the end of April/early May.
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2 weeks ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Residential rents continue to weaken with the national median rent for properties advertised on Trade Me Property declining 0.8% in April, on top of a 0.8% drop in March. The national median asking rent on Trade Me Property was $560 a week in April, down 3.1% compared to April last year, a reduction of about $20 a week. The biggest declines in April compared to March were in Otago -4.8%, Bay of Plenty -2.9%, and Auckland -1.5%.
