Category: new zealand real estate

New Zealand real estate market is witnessing a slowdown, and prices across the country are reported to be falling. This time, it has been predicted that the drop in prices would be the greatest in the last 30 years. The rise in interest rates is seen as one of the major causes for the decline. New Zealand housing market is one of the most ...

New Zealand's average house value was down annually for the first time in over a decade in September, according to the latest figures by Quotable Value (QV). This left the national average at $956,592, according to the property company’s latest house price index. The Christchurch market has been in pain too, with property values dropping by aroun...

Statistics NZ provides the estimate of decrease in natural demand for housing in New Zealand. The increase of 21,200 was witnessed in June 2021. However, this figure has dropped to 12,700 in June 2022. Moreover, this is much below than the average demand 94,800 a year, witnessed from 2018 to 2020. Generally, it takes two years for dwellings to t...

Buyers are seeking control of the housing market in Christchurch for the first time in two years, as you read this. The transition in the Christchurch housing market comes in the wake of housing prices dropping the sharpest for the first time in a decade across New Zealand. National home valuation stats indicate that the real estate main centres a...

COVID-19 restrictions outside the city and Level 4 restrictions inside have forced the market to drop to a 4-month low with the average asking price dropping by 2.8% to $865,348 in September, from $900,671 in August, as per industry reports. The Auckland housing market, however, remained buoyant. Tough times for the NZ real estate market? The ho...

Auckland has seen a jump from 1 million to 1.6 million in population, in the last two decades. Demand for Auckland property allowed the city to attracted both local buyers and investors as well as foreign ones. But, the population explosion only served to increase demand and competition for availing quality suburban property in the city. The Auckla...

Insatiable demand from investors and homebuyers has prompted the development of numerous new homes in Christchurch. The city has issued building consents for as many as 2800 new projects hitherto, in the last 12 months. The Christchurch housing market now reflects a 12% year-on-year growth in 2020-21, in this regard. What’s fueling the grow...

Christchurch has always been touted as one of the most affordable housing markets in NZ. But, that is definitely changing, as the region has tasted its fair share of million-dollar-plus residential asset sales in this financial year.  Like everywhere else in NZ, the median house price in the Christchurch housing market has jumped reaching a median...

The Auckland Housing market has baffled pundits and consumers alike by rising 28.7%, against all expectations and forecasts. This spelled a national median of $820,000 by June, according to institutional real estate news agencies. At least five out of sixteen regions in NZ have hit new median prices for housing; one region held on to the same media...

In any market, it is difficult to offload a commodity that is in bad shape. That applies even more to real estate deals. Generally, when we mention ‘property’ and ‘bad condition’, we can consider multiple shortcomings with the asset by a thumb rule, which makes it further difficult to offload properties in bad condition. Therefore, for sell...