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2 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The difference in value between three and four bedroom homes can range from $97,000 to more than $600,000 depending on where the property is located, according to property data company Cotality (formerly CoreLogic). Cotality compared current median dwelling values for three bedroom homes with median values of four bedroom homes around the country and found the difference was significant.
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3 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The Government and Auckland Council are proposing changing zoning laws to allow buildings up to 10 storeys high to be built in the Auckland suburb of Mt Albert, and buildings up to 15 storeys high in the suburbs of Kingsland, Morningside and Mt Eden.
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3 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Economists at both ANZ and BNZ have downgraded their house price forecasts for this year. BNZ has has dropped its house price forecast to between 2% and 4% annual growth this year, while ANZ is now forecasting 2.5% annual price growth. "Price gains remain glacial," BNZ Chief Economist Mike Jones says. "Stirring a shakier demand backdrop in with our existing concerns about elevated supply, points to this dynamic continuing," says Jones.
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4 days ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
Mortgage affordability for first home buyers continues to improve as mortgage rates and house prices at the bottom of the market both continue a slow but steady decline. According to the Real Estate Institute of NZ, the national lower quartile selling price was $580,000 in May, down from $599,000 in April.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The number of residential properties going to auction continues declining as we head further into winter, with interest.co.nz monitoring the auctions of 246 properties around the country over the short week of 14-19 June, down from 284 the previous week. The shortened week leading up to Matariki would undoubtedly have been a significant factor in the lower level of activity.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The national asking rent for homes advertised for rent on Trade Me Property was flat overall in May compared to April but is down on an annual basis. The national median asking rent for properties advertised on Trade Me Property in May was $630, unchanged from April, although that followed two consecutive months of declines.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
There's both good and bad news in the latest housing market figures for May. The good news is sales numbers were reasonably strong last month, with the Real Estate Institute of New Zealand reporting 7166 sales for May. That's up 8.9% compared to May last year, and the highest level of sales for the month of May since 2021. So buyers were about and they were prepared to commit to a purchase. Vendors were also active, with property website Realestate.co.nz reporting 9489 new listings in May.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
The housing market suffered mixed fortunes in May with sales numbers rising compared to April while prices headed in the opposite direction, according to the Real Estate Institute of NZ (REINZ). The REINZ recorded 7166 sales nationally in May, up 6.4% compared to April and up 8.9% compared to May last year.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
This country's average residential property value edged up marginally in the three months to May, but value movements were very mixed around the country, according to the latest QV House Price Index. The average residential value was $913,772 at the end of May, up by 0.1% compared to three months earlier. Around the country, average values increased in nine regions and declined in seven. The biggest increases were in Whangarei, up 3.2%, followed by Christchurch and Invercargill, both up 1.3%.
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1 week ago | 
interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves
A lack of rental growth continues to be the predominant feature of the residential investment market at the moment, with the national median rent showing no improvement since the end of 2023.
