Real estate stories
PropTech leader, MRI Software, appoints Tim Pickard and Steve Grubmier to strategic senior sales and partnerships roles, rising to growing demand.
Higher interest rates and softer prices left apartment owners hardest hit, with a quarter of Q4 resales in loss and median losses at a decade high.
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.
New Zealand home values fell for a 10th straight month in January, leaving prices 7.2% below a year ago and raising further downside risks.
Higher compliance costs and rising interest rates have made rural buyers more cautious, with farm sales falling sharply in late 2022.
Equipped, a standalone data analytics and technology platform, has appointed Edward Green as CEO to drive technological innovation and growth.
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.
Disconnected suburban layouts can raise costs, limit transport and walking, and make everyday errands and school trips harder for families.
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.
Hybrid working is driving up waste and costs in offices, as building managers struggle to predict occupancy and energy demand.
Mortgage holders may welcome easing nationwide declines, but Wellington is still leading the slump, with Porirua posting the steepest falls.
Demand for flexible space outside Auckland's central city is driving pre-leasing at Kiwi Property's $63 million Sylvia Park development.
Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.
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