NEW ZEALAND
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Average NZ home value tops $1 million
Lockdowns have done little to dampen buyer demand in New Zealand where house values have reached a new high.
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NZ First Home Buyers hit record market share
Despite tough market conditions and rapidly rising house prices, first home buyers in New Zealand have hit record high market share.
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New Zealand property value bounce back likely to be temporary
House prices in New Zealand recorded a mini bounce back in October with values up 2.1 per cent over the month. It was the first time in six months that price growth sped up, according to the CoreLogic House Price Index, after September recorded a monthly growth rate of 1.4 per cent. The average value of a property in New…
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New Zealand’s hot property market starting to slow down
New Zealand’s property market may see a mini bounce back in the final two months of 2021, but conditions for a sustained upswing are unlikely to materialise, according to an industry data provider.
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Rising rents push New Zealanders to buy
Signs that rental growth has accelerated sharply across New Zealand is leading many people to look at buying.
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New Zealand has more agents than homes for sale
The number of real estate agents across New Zealand has continued to grow over the past 12 months and the industry is doing its best to maintain high standards.
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Property Vulnerability Index reveals NZ regions most at risk of downturn
The New Zealand property market has been one of the strongest in the world recently with house prices increasing 27.8 per cent in the past 12 months. However, the price increases have started to cause some issues with affordability and only last week the Reserve Bank of New Zealand (RBNZ) was the first major central bank to increase official interest…
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New Zealand implements new rules to prevent investor deductions
New Zealand has continued its efforts to lower the skyrocketing housing market with new rules that will impact property investors. The new rule will prevent property investors in New Zealand from deducting mortgage interest from their taxable income and takes effect from 1 October, according to Reuters. Finance Minister Grant Robertson explained the change is part of a series of…
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Housing affordability continues to rapidly decline in New Zealand
Record house price growth across NZ has led to rapidly declining affordability with little sign of easing, despite rising mortgage rates.Â
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Record gains and very little pain for New Zealand property sellers
New Zealand home owners are pocketing a record level of gross profits from property resales as the country's real estate market defies last year's weak economic outlook.
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First home buyers in NZ will suffer from the Reserve Bank’s surprise decision on mortgage deposits
RBNZ's decision to reduce the number of owner-occupiers that can get a mortgage with less than a 20 per cent deposit is set to have huge impacts on first home buyers
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New Zealand’s market slowdown is gradually unfolding
CoreLogic’s House Price Index (HPI) showed New Zealand’s house values increased by a further 1.8 per cent over July, with a market slowdown starting to develop. This was the same rate of growth recorded in June, but down on both May (2.2 per cent) and April (3.1 per cent). While New Zealand is likely to be past the peak growth…
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CoreLogic NZ expects mortgage lending volumes will ease
CoreLogic New Zealand (NZ) has tipped lending activity will slow down over the coming months with mortgage rate increases on the horizon. This comes despite property sales activity remaining solid in June. CoreLogic NZ Chief Property Economist Kelvin Davidson said it was interesting that first-home buyers had a monopoly on mortgage lending with less than a 20 per cent deposit.…
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New Zealand hits a turning point in the property investment market
The recent uptick in mortgage interest rates is yet another influencing factor in the New Zealand residential property investment landscape, with CoreLogic suggesting the market is close to a significant turning point.
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New Zealand’s mortgaged investors see fall in share of property purchases
Over the past three months, New Zealand‘s mortgaged investors have seen their share of property purchases fall, while the number of first-home buyers (FHBs) bought at increased rates. CoreLogic New Zealand (NZ) Chief Property Economist Kelvin Davidson said these patterns were more due to the 40 per cent deposit mortgaged investors need, rather than the March tax changes. The June…
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New Zealand’s Wellington sees a 123 per cent rise in property values
Across the wider Wellington area, the past six years have brought large increases in property values, following a long flat patch prior to 2015.
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CoreLogic New Zealand House Price Index shows market momentum continues to fade
Property values around New Zealand (NZ) increased by 1.8 per cent over June, according to the CoreLogic House Price Index (HPI). Corelogic’s data indicates a slight reduction in June from the 2.2 per cent growth rate from May, providing early evidence of a gentle deceleration in market momentum in NZ. CoreLogic’s Head of Research, Nick Goodall believes the turnaround will…
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Housing policy changes have had little effect on the NZ market
Three months on from the New Zealand government’s housing policy, CoreLogic reveals the changes are yet to have a discernible impact on the market. CoreLogic Head of Research Nick Goodall admits it’s “still early days”, after the New Zealand (NZ) government policy was announced on 23 March this year. “It’s hard to disentangle the government’s bright-line extension and tapered removal…
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New Zealand’s property market upswing is nationwide
CoreLogic New Zealand takes an in-depth look at suburb-level property data, revealing a surprising market upswing. Upmarket shopping district Herne Bay remains New Zealand’s (NZ) most expensive suburb with a median value of $3.16 million. However, in terms of value growth, cheaper areas reign supreme. Reflecting better relative affordability and easier access for a wider range of buyers, Manunui in…
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Small town business owner achieves international success with LJ Hooker
LJ Hooker Waihi Beach owner Gary Alway has been recognised as a top agent internationally for the real estate giant. Gary reached the top 2.5 per cent of all LJ Hooker agents, with the brand boasting more than 500 offices internationally. The ranking rewards exceptional achievement and showcases the expertise of agents across the multitude of LJ Hooker offices. The…
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Two Australian cities listed in the top five for entrepreneurial success
Sydney and Melbourne have been highlighted as two of the best cities in the world for aspiring entrepreneurs to start their own business.
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Three-quarters of real estate agencies now more profitable than in 2020
More than two-thirds of Australian and New Zealand residential real estate agency office principals are personally taking home higher earnings in 2021 than in 2020, according to a new survey by Juwai IQI. An even higher share of offices – three-quarters – are more profitable today than in 2020, the survey found after interviewing the principals of the 29 offices…
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Century 21 opens five new offices in five weeks
Century 21 has experienced strong growth in Australia and New Zealand so far in 2021, with the network opening five new offices in the past five weeks.
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RE/MAX New Zealand recognises network’s top performers at annual awards night
RE/MAX New Zealand recently recognised the network’s top performers for 2020 at its annual awards in Auckland, with a capacity crowd turning out for the event.
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New Zealand’s Don Ha Project Sales wins global RE/MAX awards
New Zealand’s Don Ha Project Sales is continuing to make its mark on the global real estate stage, winning three awards announced at RE/MAX Global headquarters this month.
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REINZ Awards for Excellence: the winners
The 2020 REINZ Awards for Excellence were held last night at Cordis Auckland, with more than 550 attendees from across the country coming together to celebrate the New Zealand real estate industry’s night of nights. Unlike a lot of their Aussie counterparts, the New Zealand industry was lucky enough to be able to hold their awards in person. Across the…
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Ray White reports biggest sales month in 118-year history
The Ray White Group has reported the strongest month of sales in the group's 118-year history.
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Auckland is the global leader in luxury property price growth
Sydney, Perth and the Gold Coast have aslo ranked upon the top cities in the world for luxury residential price growth.
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Don Ha and the growth of RE/MAX New Zealand in 2020
When the global RE/MAX brand expanded to four new countries in the first of half of 2020 and continued its reign as the real estate brand operating in more countries around the world than any of its competitors, it recognised its resilient global leaders who championed entrepreneurship, innovativeness and technology.…
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New Zealand sees flood of first home buyers over September quarter
First Home Buyers made up a quarter of the total property purchases in New Zealand during the September quarter, according to figures from CoreLogic.
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RE/MAX New Zealand’s Queenstown rally sets high benchmark
After a period of COVID-related uncertainty, RE/MAX New Zealand held its second rally for the year bringing more than 100 members, business partners and invited guests together in Queenstown on 3rd September. RE/MAX New Zealand…
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NZ updates tenancy rights, as REINZ warn of consequences
New Zealand parliament has passed a bill that will modernise the 1986 Residential Tenancies Act. The Government says most of the reforms won’t come into play for another six months, allowing tenants and landlords time to adapt. Changes include the removal of no-cause termination, limiting rent increases to one a year, and allowing DV victims the ability to end a…
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Queenstown rents take a hit as tourism dries up
As average rent prices climb across New Zealand in spite of the pandemic, tourist town Queenstown has seen its rent prices plummet by 10 per cent since the same time last year. According to MBIE’s data, average rents for NZ rose by 4.8 per cent in the three months to June since the previous year. Surprisingly, rent prices in many…
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Billion-dollar buildings may become stranded assets
A new report released by the Australian and New Zealand Green Building Councils today warns that billions of dollars of industrial buildings face becoming ‘stranded assets’ if they cannot prove that are low or zero carbon. Green Star in focus: The case for sustainable industrial buildings finds Green Star certified buildings reduce emissions by two-thirds at a minimal 2 per cent…
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Extending NZ mortgage holidays a ‘no-brainer’
Century 21 New Zealand owner Derryn Mayne has called upon the NZ government and banks to follow the lead of Australia and extend the mortgage holiday scheme, calling the decision a ‘no-brainer’. Close to 60,000 New Zealanders had deferred their mortgage payments by the end of the financial year, while an additional 80,000 had reduced their repayments. “Having supported over…
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