CoreLogic NZ

How it started vs how it’s going: Aotearoa New Zealand property values Over the past 20 years, home values have tripled. That’s a rise of 200.2%. See where they’ve been in your nearest main centre from 2004 until now. #CoreLogicNZ

🏠 In New Zealand residential real estate plays a pivotal role in shaping household wealth. Despite recent fluctuations, the resilience of the real estate market remains evident as the long-term value of residential real estate continues to be a significant contributor to household wealth - more than superannuation, stocks and commercial real estate combined. To read more, download the latest Housing Chart Pack now at CoreLogic News: https://ow.ly/wtPk50TSa7W #CoreLogicNZ #NZproperty

Aotearoa property values continued to fall for the seventh consecutive month with the CoreLogic NZ Home Value Index (HVI) dropping 0.5% in September. While another cut to the official cash rate (OCR) brings optimism for the Aotearoa housing market, it’s yet to translate through to formal measures of property value change for now. Catch Nick Goodall’s full October housing market update on YouTube: https://lnkd.in/gbcRXC3c

New Zealand’s building industry remains sluggish with declining dwelling consents, more capacity, and financially cautious buyers keeping a lid on construction cost growth. In the latest Cordell Construction Cost Index (CCCI), construction costs increased 1.1% with annual cost growth remaining subdued at 1.3%—well below the long-term average of 4.3%. Contributing factors: 📉 Dwelling consents have dropped 34% from their peak in May 2022. 🔧 Sub-contractor rates and plumbing material costs declined in Q3 💠 Kitchen joinery and window hardware costs increased 🏠 There are twice as many established properties for sale on the market today as there were in 2021 With mortgage rates starting to come down and exemptions under new debt-to-income ratio rules, developers will be looking for a demand shift back towards new builds in 2025. The end of the labour market downturn would help too. Read the full report from CoreLogic News: https://ow.ly/wAbG50TMaMq #CoreLogicNZ #CCCI

CoreLogic's hedonic Home Value Index (HVI) showed another subdued month for the property market in September, with values down by a further 0.5%. The seventh monthly fall in a row. Since February, the declines have now reduced property values nationally by $39.4K. See what’s happening around the rest of the country 👇 Read the full October #HVI from the website: https://lnkd.in/gic3yJ-c #CoreLogicNZ #HomeValueIndex 

With the monetary policy easing cycle kicking off in August, it’s time to take stock of the market reaction and the factors influencing its trajectory. Join Kelvin Davidson as he takes a deeper look at: 📉 The market reaction to the monetary policy easing 📅 Activity and expectations for the rest of 2024 and into 2025 🌍 Each region’s performance through this period Time: 11AM (NZDT) Date: Thursday, 3rd October Register your spot here: https://ow.ly/GxRP50TvQuy #CoreLogicNZ #propertymarket #propertydata #housingtrends

What does NZ’s $1million+ property club look like? 🏙️ Tāmaki Makaurau Auckland leads $1M+ sale activity: Over the past three months, the Super city accounts for 52% of all $1 million+ sales across Aotearoa NZ. Most sales are in sought-after suburbs in Auckland City and North Shore. 🌟 Waipa and Waikato Districts shine with $1M+ sales: While overlooked, these regions boast attractive lifestyle blocks, spacious homes, and appeal as a popular holiday/retirement locations. 🏠 Tāmaki Makaurau Auckland’s $1M+ property stock: No surprise 70% of all suburbs across the Super city have a median property value of $1million or more. At the top end of the market, these suburbs include Herne Bay, Saint Marys Bay, Westmere, and Remuera. 🌄 Highest $1M suburbs: Tāhuna Queenstown (89%) and Western Bay of Plenty (71%) have the highest share of $1 million+ suburbs, fuelled by its selection of high-value properties and desirable lifestyle blocks. Read the full report by Nick Goodall at CoreLogic News: https://ow.ly/mkGT50TuVjg #CoreLogicNZ #MillionDollarMarkets

Aotearoa property values continued to fall at winter’s end with the CoreLogic NZ Home Value Index (HVI) dropping 0.5% in August. The weakness in values was widespread, with notable drops seen across the North Island in Auckland (-1.0%), Hamilton (-0.8%), and Tauranga (-0.4%). However, values in the South Island's Christchurch (0.2%) gained slightly over the month. As affordability and confidence in the property market improves with shifting interest rate expectations, could this signal the end of the downturn? Watch Nick Goodall's housing market update for September in full on YouTube now: https://ow.ly/YfRR50TrqRE

🏠🌸 With the spring selling season on the horizon New Zealand property sales continue to trend upwards, though buyers remain in control with volumes below typical levels for this time of year. CoreLogic NZ’s September #HousingChartPack reported sale volumes rose 1.6% in August, compared to the same time last year. This marks the 15th rise since April 2023, only interrupted by a drop in June 2024. However, sale volumes are still 15% below the 10-year average for August, with 6,320 transactions recorded last month. Kelvin Davidson said that with listings plentiful on the market, the relatively low levels of sales are more about buyer caution. To read more, download the latest Housing Chart Pack now at CoreLogic News: https://ow.ly/1JNU50TqClY #CoreLogicNZ #NZproperty #springsellingseason

After a strong start to the year, CoreLogic NZ's Mapping the Market reveals there’s been a clear shift in the New Zealand property market. In the past three months 674 suburbs experienced a decline in values as affordability pressures and cautious buyer sentiment bites. Explore the full interactive suburb map online: https://lnkd.in/gpMVzZEt #CoreLogicNZ #NZProperty #PropertyTrends #Auckland #Hamilton #Wellington #Tauranga #Dunedin