New Zealand house sales were largely flat in July as activity in the dominant Auckland market settled down in what's typically the quietest winter month.
New Zealand house values eased in the past three months as lower value, more affordable properties sold at a faster rate, due to continued demand from first home buyers, according to Quotable Value.
New Zealand house values eased in the past three months as lower value, more affordable properties sold at a faster rate, due to continued demand from first home buyers, according to Quotable Value. Rebecca Howard reports
New Zealand house sales fell 1.6 percent in June from a year earlier as a cooling in activity followed the onset of winter was limited to what's considered affordable housing, pushing out the time to sell and sapping the number of available listings, says the Real Estate Insitute.
New Zealand house values fell in June in a slower market that Quotable Value says reflects restrictions placed on buyers by the central bank and government.
New Zealand house sales rose 6.6 percent in April, the biggest year-on-year increase in 23 months, as ongoing demand coupled with tighter inventory saw prices increase in 14 of 16 regions. Prices outside of Auckland have risen almost 50 percent in the last two and a half years.
In today's email we look into the latest figures on the property markets around the country.
The reality of the significant quake damage done to some of Wellington's largest commercial buildings is now dawning on the capital.
Wellington real estate agents report that house sales have frozen mid-settlement since Monday because insurers are refusing to roll over cover on properties from vendor to buyer, as they did in the immediate aftermath of the Canterbury earthquakes.
It's still early days, but the new 40% deposit rule for landlords nationwide that formally kicked in from Saturday (but has been in effect since late July) does seem to be having a dampening effect on the housing market, particularly in Auckland.