July / August Monthly Property Market & Economic Update now available

Date: 28 July 2017

This monthly report created by the CoreLogic NZ Research team covers the main economic factors that influence the housing market, and then looks at sales volumes, values, and active buy types in both the national and main centre housing markets.

 

Some highlights of the June - July 2017 report:

  • Migration - For the second time in 18 months it looked like we were seeing a slowdown before things have picked up again. It seems the high net migration picture is set to stay for a while yet.
  • Building Consents – The actual increase in housing stock in Auckland in 2016 was less than 6,000. This is some way off the 10,000 that were consented.
  • Consumer Confidence – Remains high with perception of future economic outlook remaining strong.
  • Values - Nationwide values rose again last month according to the QV house price index. This was mostly due to increases in the provincial and rural centres, especially in the North Island. The market slowdown has now firmly hit Wellington. Quarterly growth of 2.4% is the lowest we’ve seen for almost two years.
  • Outlook – We’re likely to see a continuation of the quiet Winter as credit is still difficult to come by. Longer term though, many of the major market drivers remain and, assuming there are no major policy changes introduced as a result of the September Election, should start to push prices up further. 
 
To download the full report, click here.
 

Tags: Property, CoreLogic, Auckland, Housing, Real Estate, Property Market, Wellington House Prices, Property Values, Homes Values


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