New Zealand Housing Market Updates: Changing Demand and Supply Dynamics
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…
Christchurch Housing Market Updates [May 2022]
As the New Zealand housing market enters its price correction mode, tight lending conditions and high median values spell a slow market for most major centers. However, Christchurch continues to thwart the trends and rake in profits for brokers, sellers, and buyers alike. The Christchurch housing market continues to depict high profits for sales a…
Falling Prices Help Buyers Retake Control of the Christchurch housing market
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…
RBNZ Hikes OCR: Christchurch housing market prices under check
The last quarter witnessed Christchurch housing market prices soar to their highest in three months. A growth of 8.8% in three months, helped the metro depict the biggest growth of all the seven major housing markets in NZ. While the housing prices in Christchurch are the lowest among these metros. The incumbent hike in the Official Cash Rate (OCR)…
Christchurch Housing Market Reports Quarterly Growth in Average Home Prices
New Zealand’s average home property values have jumped by 5% to $1021 million in the past three months. The slow, but steady growth rate accounts for an increment of $45,000 in the average housing property value; and, thus is a bearer of good tidings in a Christchurch housing market deprived by the lockdowns and new governmental LVR policies for…
Christchurch Housing Market – Key Updates You Should Know About
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…