Century 21 stories
Rising mortgage costs and tighter lending rules are expected to cool the market, even after values posted their first monthly acceleration in six months.
Higher mortgage costs are unlikely to deter first-time buyers while rents keep climbing and remain above many monthly loan repayments.
Tenants could face higher rents and fewer homes as landlords lose interest deductibility from Friday, industry figures warn.
Lockdown has not cooled demand, with New Zealand house prices hitting another record as spring listings are delayed and buyers stay active.
Affordability pressures are starting to bite, with Hamilton and Rotorua both posting quarterly falls after a rapid run-up in values.
Online property traffic is staying strong during New Zealand's Level 4 lockdown, as buyers browse listings and sellers turn to virtual appraisals.
Record prices are still climbing, but a drop in sales and inventories suggests winter may not be the only reason for the slowdown.
The franchise's headquarters will move to Manawatu after Tim Kearins bought Derryn Mayne's 25% stake in Century 21 New Zealand.
New records in prices and sales show demand is still outpacing supply, despite efforts to cool New Zealand's property market.
Cheaper provincial suburbs have driven New Zealand's property boom, with Manunui up 51.8% and Hargest selling in just six days.
Record-low inventory is pushing New Zealand house prices higher, leaving first-time buyers with fewer affordable options.
Rising lending restrictions and tax changes are already cooling demand, though some agents say Treasury’s flatlining forecast may be too gloomy.
Budget 2021’s housing package was welcomed, but experts warned it lacks the radical steps needed to help first-home buyers and renters.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
Signs of cooling are emerging as quieter open homes and more auctions passing in are expected to slow gains after a red-hot year.
Investors in Manawatu/Wanganui saw 25.3% capital gains and 4.0% yields, making it the country’s standout residential market.
Record prices and a 14-year sales high show New Zealand's housing market is still racing ahead despite tighter lending rules and tax changes.
The package aims to boost supply and help first-home buyers, but experts warn it may not curb soaring prices or fix shortages quickly.
Home buyers could gain from easier grants, while investors face a tougher tax regime and rents may rise as a result.
Sales surged 14.6% year on year in February as buyers rushed to secure homes before loan-to-value restrictions returned in March.
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