Category: new zealand real estate

The real estate market is experiencing a noteworthy resurgence, marked by ascending prices and a surge in property transactions. The Real Estate Institute's (REINZ) September report serves as a compass, guiding us through the intricacies of this revitalization. Stabilizing Market Prices The report unveils a stabilization of market prices, ins...

Auckland's housing market is in a precarious state, as property prices have shown signs of deterioration in 76 suburbs over the past three months, just as the traditionally busy spring season arrives. This decline is a disheartening development for homeowners, who had recently glimpsed signs of recovery. However, prospective buyers now face the dou...

Some flood-damaged properties, labeled as "as is where is," are now hitting the real estate market in their current condition, leaving potential buyers and renters with critical decisions to make. In the wake of the Auckland anniversary floods, which left significant damage to the Cotesmore Way complex of leasehold townhouses in Parnell, some pr...

Renting a place in Auckland might cost you more soon. The price for new rentals in the region went up by $30 a week in the second quarter of this year. During April to June, the rent increase was quick. Now, the average weekly rent for new rentals in Auckland is $630, which is a lot more than before. For a while, rents in Auckland were steady...

Step into the remarkable world of New Zealand, a country grappling with one of the most challenging housing markets worldwide. Over the past 18 months, the nation's homeowners and investors have witnessed the erosion of billions of dollars in wealth due to a sharp decline in housing prices triggered by soaring mortgage rates during the Covid pandem...

According to Quotable Value (QV), the average value of homes in Jan’23 was $934,761, indicating a decrease of $10,006 (-1.6%) since Dec’22 and $129,004 (-12.1%) since January last year. The Wellington Region saw the biggest decline in dollar terms over the year, with average values dropping by $222,749, followed by the Auckland Region with a ...

According to the latest data from the Real Estate Institute of New Zealand, the country's house prices have experienced a significant decline. The figures show that certain areas of Auckland have experienced a drop of over $400,000 in the last year. The REINZ's House Price Index indicates that house prices across the country have dropped by 13.9% o...

Recent floods in Auckland have affected many properties and homeowners may be faced with the task of cleaning up and making insurance claims. Here's what you need to know: Safety First: Before entering a flooded property, it's important to ensure that it's safe to do so. If there's any potential danger, such as electrical hazards, it's best to ...

Authorities in New Zealand have predicted further heavy rain for Auckland in the coming days as insurers tabulate the costs of what is likely to be the costliest weather disaster the country has ever experienced. The La Nina weather phenomenon is causing the north of the North Island of New Zealand to experience above-average rainfall. Auckland has...

From the buyers' perspective, 2022 ended on a positive note for the New Zealand real estate market, as housing prices across several regions fell drastically. The transition in housing costs is in tandem with rising inflation, bloated interest rates, and shifting lending rules by NZ financial institutions. These factors have had a cooling effect on...