May - June 2017 Monthly Property Market & Economic Update now available

Date: 25 May 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 buyer types in both the national and main centre housing markets.
Some highlights of the May - June 2017 report:
  • Consumers remain optimistic about the economy and the employment market is strong.
  • The net loss of Kiwis to Australia has begun again after a few months of net gain. However recent announcements from Australia changing entitlements for Kiwis living there may mean we don’t see the same flood across the Tasman as we are used to seeing.
  • Dropping demand leads to dropping sales. In Auckland volumes are down 30% year on year, slightly less in Hamilton and Tauranga, and less again as you move further south. But the slowdown in sales is nationwide.
  • The drop in sales has hit all types of buyers, not just investors. So while the share of sales to investors has rebounded, the actual number of investors is well down. First home buyers are significantly down in numbers in Auckland, even though their share has held steady, but in Wellington their share of sales is still holding firm as those buyers continue to be active in the outer areas of the city.
  • With dropping demand and sales, a rise in listings, and more housing policy announcements likely over the coming months, we expect the market to continue to weaken until well after the election.
To download the full report click here.

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