Real estate stories
Falling unoccupied stock and pandemic demand are making holiday homes harder to buy, though some coastal spots still fall below GBP £500,000.
Home sellers using an agent are getting an average 15% more than private vendors, the biggest premium seen by REINZ in 18 years.
A shortage of homes for sale is fuelling record house prices and leaving buyers with fewer options, despite the busiest November in 13 years.
House prices could be kept artificially high, worsening inequality and locking buyers into the cost of poor policy, Infrastructure New Zealand says.
Affordability is worsening for first-time buyers as house prices outpace incomes, deepening the housing divide and fuelling political pressure.
Low rates, pent-up demand and $85 million of infrastructure spending are helping Queenstown’s property market recover after Covid hit confidence.
Only a third of New Zealand homes now qualify for the Home Start grant, intensifying calls to lift price caps before summer buying picks up.
More than 600 new homes are planned for a 70-ha Invercargill site, with developers saying the project could ease pressure on buyers.
Listings fell to record lows as buyers pushed Auckland’s median house price to GBP £1 million and nationwide sales hit a 14-year October high.
Albany has become Auckland’s top apartment market, with suburban projects taking more than two-thirds of sales as CBD demand slumps.
Nationwide house prices climbed 1.3% in October as low rates and scarce listings kept demand ahead of supply.
Record-low rates have lifted first home buyers to a 25% market share, but reimposed lending curbs could force many out again.
Lower migration losses are still propping up housing demand, though CoreLogic says border closures will eventually curb population growth.
House sales jumped to a 42-month high in September, with low borrowing costs and scarce listings driving record prices nationwide.
Planning reforms could add GBP £4 billion in annual value and 39,200 jobs, as states weigh faster approvals and clearer rezoning rules.
House prices in major cities have held firm through the downturn, though UBS warns falling rents and weaker incomes could trigger a correction.
Auckland’s central city is set to benefit from the $5b City Rail Link, with property values, investment and demand for quality offices holding up.
Remote working has widened attack surfaces, with 40% of executives reporting more cyber attacks as cloud adoption rushed ahead.
Nationwide property values rose 0.8% in September as low rates and scarce listings kept demand firm despite the economic downturn.
Guests will see more touchless entry, easier-to-clean surfaces and flexible layouts as hotels redesign to curb infection risks and crowding.
