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- April 2011 - Now is the Time - Economists
- March 2011 - Lower Interest Rates Set To Help Visi
- February 2011 - More Demand as Market Warms Up
- January 2011 - Busy Start to the Year with More Stock
- December 2010 - September 2010 Investment News
- June 2011 - Good Opportunity to Sell
- August 2011 - Housing Stock in Short Supply
- September 2011 - More Sunshine, More Stock
- October 2011 - Signs of More Market Activity
- November 2011 - More Strength in Market
- December 2011 - Is Santa Finally Coming Back
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December 2011 - Is Santa Finally Coming Back
Market Comment
New house price data released recently by the Real Estate Institute and QV for November shows that house sales volumes and prices are up from October 2011. The sales volumes show a 17% increase in the number of house sales when compared with the same month last year. There were 6,008 unconditional sales for the month, up 20% from the month before - a 4.3% increase when seasonally adjusted. The national median house price rose was up 2.4% from October to $367,500 and is also up 2.1% from November last year.
Wellington Snapshot
QV’s Residential Price Index for November shows that property values in the Wellington region are 0.4% lower than the same time last year. After falling for the first half of 2011, values in Wellington have picked up slightly in the last few months.
Wellington City Rental Listings/ Sales
A great visual summary of the Wellington Rental market as summarized by local investor John Butt.
BNZ-REINZ Survey
More Kiwis are trading down to smaller properties than before, while the number of first home buyers entering the market continues to climb, latest real estate figures show.
Mortgage Market
Residential mortgages valued at more than $1 billion were approved in the first week of December, the first time the Reserve Bank's weekly measure has topped $1 billion since April 2009. The Reserve Bank data shows 6456 mortgages were approved in the week ended December 2 valued at $1.044 billion. At $161,710 the average value was a record high. These figures follow on from the previous week when, in what is traditionally the market's strongest period of the year, 6112 mortgages were approved valued at $966 million. The 6456 volume of approvals in the week to December 2 was the highest number since 6878 approvals almost two years ago, in the week to December 18, 2009.
New Zealand State of the Market
The property market is now firmly in the active Summer season with a strong surge of new listings coming onto the market to provide variety for the prospective buyers who have certainly been more active over the winter and spring period of this year.
Building Consents
Building consents issued in October show more new houses being approved, compared with the same month last year, said Statistics New Zealand today, with most of the increase occurred in Auckland.
Coastal Market
Looking around the coastal market, the value of the Kiwi beach bach has continued to tumble as entrenched bust follows boom, wiping hundreds of millions of dollars from the assets of thousands of New Zealand families. Beach values have dropped right across the country in the past four or five years and, unlike urban residential, which is starting to show signs of some recovery, the bach continues to drift.
One Man’s Opinion- Bernard Hickey from Interest.co.nz
There's never been a better time to borrow up to the hilt and buy property.
It's almost too good to be true - but it's true.
Quinovic Rental Round Up
If you’re considering purchasing or currently own residential investment property, you may be interested in the key property factors tenants commonly ask about when they call our office.
Interest Rates
The Reserve Bank of New Zealand (RBNZ) has held its Official Cash Rate (OCR) at 2.5%, as expected. Releasing its December Quarter Monetary Policy Statement, the Reserve Bank said the global economic outlook had deteriorated because of the European financial crisis, which meant economic growth and inflationary pressures remained subdued in New Zealand.
