home-value-market-nz

The Reserve Bank of NZ has changed its tune on forecasted housing prices

Thu, 25 May 2023 05:02:32 GMT

RBNZ has shifted its house price forecast to a more optimistic view for the rest of the year.

The reserve bank is forecasting that house prices will fall much slower throughout the rest of 2023 than previously thought. At the start of 2024 RBNZ expects prices to level, before rising again later in 2024 according to an article by David Hargreaves of Interest.co.nz

RBNZ cites multiple factors that have slowed the decline of prices; an increase in immigration, wage growth and stable mortgage interest rates being a few that have helped stem fall. If you are preparing your home for the market over the winter, or even further ahead in the warmer months, it may be the perfect time to get an appraisal to know how your area is going to be affected.

ANZ shares more positive predictions for the housing market in the coming months

Thu, 04 May 2023 05:04:57 GMT

Economists from New Zealand's largest bank suggest a more optimistic future for house prices

The latest Property Focus report from ANZ is a bit more optimistic in regards to forecasting house prices in the New Zealand housing market according to Interest.co.nz . While previously expecting a steep slide in prices of 22% from their peak in late 2021, the report touts a revised forecast of an 18% drop.

Key indicators which have influenced this revision include falls in fixed mortgage rates and house sales data appearing stronger than expected. Despite this, the report reiterates that "house prices are notoriously uncertain" hence staying up to date when considering your options in the market should be a consistent endeavour.

For a free and no obligations appraisal on your home, from one of our real estate professionals contact us!

Key indicators suggest a positive future for the housing market according to CoreLogic data

Thu, 20 Apr 2023 06:17:49 GMT

New data and plateauing prices suggests a brighter future ahead for the New Zealand housing market...

CoreLogic's chief property economist Kelvin Davidson believes that the New Zealand housing market may begin look brighter for homeowners sooner rather than later, according to an article by Miriam Bell of stuff.co.nz . Key indicators such as sales volumes, listing numbers and stabilising mortgage rates may hint at a potential end to the market downturn.

The implication that interest rates have reached their peak will give buyers and sellers more confidence in making decisions, resulting in a shift in market perceptions, according to Davidson. He also said that these indicators lead to a rising belief that the downturn in the market could end in the second half of 2023. To prepare yourself for the trends to come in the market in your area, contact us for a market appraisal!

Summer ends with a surprising lift in house auctions across the New Zealand housing market

Wed, 05 Apr 2023 06:13:45 GMT

An increase in residential property auctions combined with a steady sale rate ends weeks of slow declines in auction quantity across Aotearoa

In the last week in March, residential property auctions increased by 57 from the previous week, halting a previously slow decline in the quantity of property auctions each week. The sales rate has remained steady at around a third of properties that went to auction, selling. The highest rate of sale in New Zealand is in the central suburbs of Auckland with a rate of 48% according to data analysed by interest.co.nz.

The market is definitely in a curious state as both homeowners and buyers alike explore their options. It may be the perfect time to reassess your home's value with a market appraisal. If you would like to organise a no obligation and totally free market appraisal contact us!

Asking prices remain steady in uncertain property markets across New Zealand

Wed, 22 Mar 2023 04:06:25 GMT

While new listings drop in many regions across New Zealand, asking prices remain steady across much of the country.

According to Hannah Franklin of realestate.co.nz some regions in New Zealand such as Nelson and Bays stand strong in regards to new property listings last month, seeing an increase of 7%, while across much of the country new listings have slowed slightly. Asking prices have remained consistent across much of New Zealand however with some areas, such as Gisborne reaching all time high average asking prices.

A wide range of factors have affected the housing market in recent times, Kiwi attitudes towards the market, as well as recent struggles with extreme weather no doubt has impacted willingness to consider the market. Regardless, with data proving that many regions remain steady, it may be the perfect time to have a look at what your home may be worth.

The latest QV figures suggest uncertainty in the New Zealand housing market

Thu, 09 Feb 2023 02:30:59 GMT

While home values have fallen throughout the latter half of 2022, an uncertain road lies ahead according to QV

Now may be the perfect time for homeowners to update themselves on their homes market value. Especially as QV reports an unknown future for the New Zealand housing market with some markets continuing to thrive according to David Hargreaves of Interest.co.nz

Fears of a housing market crash may be unfounded, says Realestate.co.nz report

Thu, 14 Jul 2022 06:45:15 GMT

Many speculate a housing market crash is coming, however a new report says otherwise.

An article from RNZ Morning Report comments on a new report created by realestate.co.nz. This report notes that market crash speculation may be unfounded, prices appear to be stabilising so it could be the perfect time to get an idea of where you stand on the market.

It could be worth upgrading to a more expensive neighbourhood

Tue, 21 Jun 2022 06:12:14 GMT

With a slowing market, appeal grows in more expensive markets for homeowners.

An article by Miriam Bell of Stuff goes over the changes in the market. Slowing markets across New Zealand make buying in more expensive neighbourhoods a possibility for some homeowners. It could be the perfect time to reevaluate where you stand on the market!

Most Homes Continue to Sell well Above Purchase Price

Mon, 30 May 2022 07:38:49 GMT

While housing prices seem to be slowing across New Zealand, market demand is keeping house prices high.

This article by Miriam Bell of Stuff goes over the current state of selling a house in New Zealand. Even though the housing market is experiencing a plateau, many sales are reporting highly profitable results. Major cities across Aotearoa are noting median resale gains ranging from $300,000 to $550,000. There may be limited time to see if your house is in a similar situation!

A slowing market means more chances for first home buyers, and a closing window of opportunity for homeowners

Wed, 18 May 2022 06:34:55 GMT

A plateau in New Zealand house prices means homeowners should act fast. Meanwhile, first home buyers are faced with increasing opportunities to enter the market.

In an article written by Tess McClure of The Guardian we are shown the effects of the slowing house prices in New Zealand. Median house prices are expected to plateau if they haven't already, so homeowners may want to act fast to fully capitalise on a previously buoyant market. Buyers may find more reasons to enter the market as this shift continues.

The Holiday Home Market becomes more Appealing as the Housing Market Slows

Mon, 02 May 2022 06:25:09 GMT

Is a buyers market on the horizon for holiday destinations?

In this article by Keiller MacDuff of stuff.co.nz, the Mackenzie district's slowing market makes sales much more attainable for prospecting buyers. Homeowners in popular holiday destinations need to keep aware of how this market shift may affect their home.

The value of some New Zealand homes have doubled in only ten years

Tue, 19 Apr 2022 07:06:08 GMT

In many regions across New Zealand, median house prices have doubled in a decade.

While many discuss the potential plateau of home prices in Aotearoa, an article Jessica Pipe of realestate.co.nz explores the huge shift the market has seen over the last ten years. As a homeowner it may be the perfect time to get an understanding of how your own property stands in the current market. Article here: https://www.realestate.co.nz/blog/news/nz-home-value-double-ten-years

More opportunities for first home buyers in 2022?

Mon, 28 Mar 2022 05:54:10 GMT

A lot is going on in New Zealand's housing market, perhaps creating new opportunities for kiwis to buy their first home.

In this article by Miriam Bell of Stuff , developments in the market indicate a better climate for first time homeowners due to slowing house prices. Many kiwi's are interested in what their property may be worth throughout these market shifts