Real estate stories
Signs of a floor are emerging as mortgage rates stabilise and sales improve, though values have still fallen 10.5% over the past year.
National prices kept falling in March, but the West Coast and Southland posted annual gains as sales slowed and homes stayed longer on the market.
Auckland’s student housing squeeze is easing as a NZD $250 million complex adds 907 rooms and could set a national template.
Vacancy remains near record lows as demand keeps industrial property attractive to investors, even as rising costs slow new development.
Mortgage rates may already be near their peak, but new borrowers still face tough affordability tests and repricing pressure for months.
Vacancy and redevelopment plans have cut Skyworld’s annual income to GBP £2.3 million, but the site could be reshaped into a major mixed-use precinct.
Older industrial stock is being bulldozed as occupiers demand taller, greener warehouses closer to customers, JLL says.
Sales and listings fell sharply in cyclone-hit regions, even as nationwide housing stock returned to more normal levels in February.
Government demand and a flight to quality have left Wellington’s CBD with the lowest office vacancy among major Australasian markets at 5.4%.
Property Council New Zealand says the changes could unlock thousands of rental homes as National seeks to attract more investor capital.
Rising borrowing costs and tax changes are pushing more landlords to lift rents or exit the residential market, a survey found.
Higher interest rates and softer prices left apartment owners hardest hit, with a quarter of Q4 resales in loss and median losses at a decade high.
Higher rates and recession fears are keeping sales weak, but buyers are reappearing as inventory swells and price falls slow.
Weak market conditions and higher borrowing costs have driven mortgaged property investors to near-record lows, though cash buyers are still active.
Uncertainty over tax and housing policy could briefly slow residential sales, though commercial activity is likely to stay driven by rates and inflation.
New Zealand home values fell for a 10th straight month in January, leaving prices 7.2% below a year ago and raising further downside risks.
Higher compliance costs and rising interest rates have made rural buyers more cautious, with farm sales falling sharply in late 2022.
Equipped, a standalone data analytics and technology platform, has appointed Edward Green as CEO to drive technological innovation and growth.
Volatile interest rates could push owners and investors back into the commercial property market, with prime sales tipped to lift from Q2.
Higher borrowing costs and recession fears are expected to keep New Zealand house values under pressure through 2023, QV says.
