Real estate stories
Sales and prices rose across New Zealand in July, but REINZ warned the market may not keep its post-lockdown pace for long.
City-centre footfall is rebounding, with new mobility data hinting at a steadier office market and a faster retail and tourism recovery.
Tenants will gain stronger eviction protections and annual rent caps, but landlords warn the new law could shrink supply and lift rents.
Investor activity may stay buoyant through the 2020 election, with Colliers saying housing policy shifts have usually had only a limited effect.
Managed isolation and domestic travel have helped New Zealand hotels recover faster than expected, with occupancy rising sharply in key regions.
Property activity is likely to soften as recession, rising unemployment and a spring listings surge test demand in coming months.
House prices and sales could weaken in September unless the Government extends mortgage deferrals as the wage subsidy ends and election looms.
The milestone could help ease housing and emissions pressures, as the one-piece build cut material, time and budget by about 60 per cent.
House prices and sales have climbed to four-year highs in New Zealand, despite earlier fears of a post-COVID downturn.
Property values have already slipped nationwide, with tourism-dependent centres like Queenstown hardest hit as the recession starts to bite.
Sales momentum remains firm in Auckland, with first-home buyers and investors still active despite claims the city has tipped into a buyers’ market.
Lower deposit rules and weak bank returns are drawing small investors into housing, helping keep prices elevated across New Zealand.
Smaller homes may offer investors better returns as weaker price growth puts rental yield back in focus amid uncertainty, CoreLogic says.
The project will add 236 homes for older people and free up five hectares for future Government housing across Avondale and Blockhouse Bay.
Property sales jumped in May as lockdown eased, but volumes remained 46.6% below a year earlier and days to sell hit record highs.
Affordable townhouse projects in Auckland will get a lift as the non-bank lender commits GBP £75 million to new residential developments.
Landlords and retailers say the dispute process risks dragging out rent talks, despite most tenants and owners already reaching deals.
Auckland’s housing market has held up, with prices little changed after lockdown despite sales volumes halving in May.
Lower deposits and record-low borrowing costs are giving first-home buyers their strongest opening in more than a decade this winter.
The 361-hectare South Auckland project could add USD $2.3 billion to the economy and house 2,000 people by 2027.
