Property Market stories
Buyers and sellers are returning to the market as September sales rose 5.1% year-on-year and homes sold in fewer days, REINZ said.
Analysis by PointData has identified 870,000 profitable new affordable homes and 425,000 new social housing dwellings across mainland Australia.
A growing number of New Zealand suburbs are edging back into growth, though affordability and higher mortgage rates are likely to cap gains.
More stock and faster sales suggest the housing market may be turning a corner before spring, despite higher rates and election uncertainty.
National home values have edged up 0.5% this quarter, but most cities are still below year-ago levels as demand stays patchy.
Enquiries from wealthy offshore buyers have surged, with agents predicting a flood of luxury property money if the policy is introduced.
Vacancies fell and rents rose in key centres as demand for quality office, retail and industrial space stayed firm across New Zealand.
Borrowers facing repricing will welcome a stable OCR, with the Reserve Bank now signalling cuts may not come until early 2025.
Buyer activity is lifting sales, but thin stock and election jitters are keeping many sellers off the market, REINZ says.
The sale could draw strong investor interest, as the landmark Queen Street site brings in GBP £2.68 million a year and is fully leased.
Offshore demand is fuelling more lavish additions to New Zealand's priciest homes, from gold taps to hidden bars and high-tech wardrobes.
Buyer confidence is expected to lift mover activity in the coming quarters, but high mortgage rates may keep house moves subdued for now.
Sales rose 14.6% year on year in June, but fewer new listings left buyers facing a tighter market as sellers held back.
Low sales volumes are making New Zealand house-price falls swing sharply from month to month, QV says, even as declines ease overall.
Vacancies are tightening and rents rising in New Zealand’s top cities, with industrial property remaining the strongest segment this quarter.
Tighter stock on the market and a 7.5% rise in sales point to New Zealand housing volumes finally bottoming out after a long slump.
Regional housing markets are regaining confidence as eased lending rules and steadier rates lifted May sales in seven areas, REINZ said.
First-home buyers are returning to lenders as looser loan-to-value rules give them more room to qualify for a mortgage.
Property investors may see yields stabilise soon, as the Reserve Bank of New Zealand signals its Official Cash Rate has peaked and cuts loom.
Prime CBD office space is tightening in Auckland and Christchurch, while Wellington rents rise despite a temporary vacancy jump.
