Property Market stories
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.
Higher compliance costs and rising interest rates have made rural buyers more cautious, with farm sales falling sharply in late 2022.
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.
Rental shortages are forcing some first-home buyers to purchase sooner, as Waikato’s population growth and housing demand outstrip supply.
Higher mortgage rates and tighter lending rules have left New Zealand’s housing market weaker than expected, with sales at a 12-year low.
Rising borrowing costs are keeping buyers on the sidelines as New Zealand sales fall 36.1% year on year and prices soften.
Sales rose nearly 8% in November, offering a rare sign of resilience as New Zealand’s median house price fell 12.4% year on year.
Vacancy and rents are diverging sharply as investors favour prime offices, while retail footfall and industrial demand remain uneven across New Zealand.
Mortgage holders may welcome easing nationwide declines, but Wellington is still leading the slump, with Porirua posting the steepest falls.
Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.
The move leaves Auckland’s tallest tower site back on the market as ICD Property refocuses on Australian projects amid a weaker global economy.
Higher interest rates are cooling New Zealand’s housing market, with sales down 34.7% and buyers hesitant despite more enquiries.
Further official rate rises are likely to keep mortgage costs high and delay any rebound in New Zealand’s housing market.
Projects risk missing tenants and returns unless developers align design and operations from the outset, a UKO co-founder says.
Farm sales have fallen sharply as higher costs, volatile weather and policy pressure weigh on rural confidence across New Zealand.
Higher rates and living costs are keeping sales subdued, even as more first-home buyers and bidders return to spring open homes.
Tenants including EY and Fujitsu are moving into a seismically resilient six-storey building, lifting Wellington’s office supply by 10,049sqm.
