CoreLogic Property Update for March 2017

Date: 24 March 2017

Get right up to speed with what has been happening in the NZ property market as our Head of Research Jonno Ingerson takes you through the latest trends, with some very interesting new developments!

Topics covered in this months short video include the annual change in monthly sales volumes, a drop in values across a lot of the country and activity of first home buyers in the market.

This easy watch will bring you right up to speed - covering the main things of interest including market activity, values and buyer types active in the market.

 

Tags: March, Property Update, House Prices, House Values, Homes


Comments:

4 Comments

Alice Stewart:
Hi Jono, thanks for report. In the Wairarapa we have incredibly low stock for sale. So while volume of sales are low the values are increasing because of buyer demand from mainly Wellington. Open Home figures have dropped in last couple of weeks and I anticipate the rate at which property values were increasing will soften. However, inspire of low number of sales this does not mean lower prices. I would be grateful for some feedback from you.
Gretchen Boyd (New Zealand)
08:57 PM 26 March 2017
I've just brought bare land in Ohai, Southland, for a cheap holiday house.
New 2 bedroom prefab house, 1300m2. Inc fence, survey & lawyers, $125,000
Because they've got Queenstown as major airport, especially from Australia in winter, the cheap houses in small areas, are going to holiday homes. Milford has taken off.
They also have property investors, buying cheap & building up equity. (NZers living in Australia)
Reminds me of Akaroa , Kaikoura, Arthur's Pass & West Coast.
jan Name (New Zealand)
11:41 AM 25 March 2017
New Zealand does not end at Auckland. No mention of Whangarei or further North, very disappointing.
Alice Stewart:
Hi Jono, thanks for report. In the Wairarapa we have incredibly low stock for sale. So while volume of sales are low the values are increasing because of buyer demand from mainly Wellington. Open Home figures have dropped in last couple of weeks and I anticipate the rate at which property values were increasing will soften. However, inspire of low number of sales this does not mean lower prices. I would be grateful for some feedback from you.
Jon torrance (New Zealand)
09:42 PM 24 March 2017
Palmerston North is also getting this spill over from the rampant Wellington market, I'd imagine FHB activity would be very strong there also. Low listings, rising rents and prices, but like Wairarapa, comping from a very low base (sub 300k), so easy 50% plus gains can and in my opinion will happen simply due to the backlog of FHB's needing to get a foot on the ladder and investors from welly and Auckland using big equity gains to buy cash cows in the decent secondary cities, esp uni cities e.g. Dunedin or palmy
Alice Stewart (New Zealand)
05:15 PM 24 March 2017
Hi Jono, thanks for report. In the Wairarapa we have incredibly low stock for sale. So while volume of sales are low the values are increasing because of buyer demand from mainly Wellington. Open Home figures have dropped in last couple of weeks and I anticipate the rate at which property values were increasing will soften. However, inspire of low number of sales this does not mean lower prices. I would be grateful for some feedback from you.