Property Market stories
Footfall at co-working centres plunged as lockdowns slashed use, even though flexible offices are expected to regain ground after the pandemic.
Tighter lending criteria and renewed virus restrictions are likely to cool mortgage demand after July’s NZD $6.6 billion peak.
Pent-up demand is expected to lift sales as Aucklanders return to the market after nearly three weeks in lockdown.
ANZ sees a deep slump in dwellings as Covid headwinds, job losses and weak investor demand push construction and prices lower.
Rents are falling in Queenstown and other pockets, but most areas are still posting gains as the recession deepens and job losses loom.
Auckland and Dunedin buyers are skewing towards mortgaged investors, as July's share hit a four-year high despite fresh Covid-19 uncertainty.
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.
Investor activity may stay buoyant through the 2020 election, with Colliers saying housing policy shifts have usually had only a limited effect.
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.
House prices and sales have climbed to four-year highs in New Zealand, despite earlier fears of a post-COVID downturn.
New app Yelsa, dubbed the Tinder of real estate, connects sellers with buyers in New Zealand, potentially saving thousands in fees and marketing costs.
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.
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.
Auckland’s housing market has held up, with prices little changed after lockdown despite sales volumes halving in May.
