Central Otago tops rent ladder
8.1.25 Central Otago Lakes District is the most expensive place to rent in New Zealand, by more than $200, reveals the latest data from realestate.co.nz. The region’s average rental price hit an all-time high of $891 per week in December 2025, 11.8% more than in December 2024, making the region over $200 more expensive to rent than anywhere else in the country, including Auckland. The national average rental price in December 2025 was $626/week. Central North Island recorded the next...
ASB adjusts interest rates
18.1.225 ASB has lifted some of its fixed home loan and term deposit rates and lowered its 6-month home loan rate to a market leading 4.65%, in response to longer term wholesale rate movements. Fixed mortgage rates are influenced by a variety of different market forces, including customer deposit rates, operating costs, the cost of overseas funding and wholesale interest rates. Unlike variable rates which are connected to the Official Cash Rate (OCR), fixed rates are more influenced by...
LIM rules on natural hazards
New rules that make natural hazard information in Land Information Memoranda (LIMs) clearer, more consistent, and easier to understand came into effect for councils on October 17. The new regulations standardise how hazard information must be summarised and presented in LIMs. It follows changes in July when councils had new obligations when preparing LIMs. Insurance Council of New Zealand chief executive Kris Faafoi said the changes will give property buyers and owners greater confidence when...
Door part open for foreign buyers
26.9.25 Atom Go Tian Senior Data Analyst Ray White Group New Zealand has partially lifted its foreign buyer ban, allowing “golden” visa owners to purchase a single residential property valued at $5 million or more. This represents a significant policy shift from the blanket foreign buyer ban implemented in 2018. The change follows revisions made to New Zealand's 'golden' visa, also known as the Active Investor Plus (AIP) visa, in April 2025. To attract additional investment, skills,...
Development opportunity for PFI
Property for Industry notified the early surrender of the lease at a property in Harris Road, East Tamaki and provides an update on plans for the site. PFI Chief Executive Officer, Simon Woodhams, said: “The early lease surrender at Harris Road marks a significant milestone for PFI, unlocking a prime redevelopment opportunity in East Tamaki. “Together with the Investment Boost tax changes, these initiatives have strengthened our FY26 earnings outlook and support the Board’s decision to update...
Property values going nowhere
6.8.25 Property values in New Zealand edged down by -0.2% in July, according to Cotality NZ’s latest hedonic Home Value Index (HVI). The result mirrors the annual change, which was also a –0.2% drop, bringing the median value nationally to $819,921. Cotality NZ Chief Property Economist Kelvin Davidson said the result was yet another reminder that market conditions remain subdued. Index results for July 2025 – National and Main Centres Region Monthly Quarterly Annual...
Auctions show strength
26.5.25 Auction metrics were looking positive for Ray White New Zealand last week, with 203 properties scheduled to go under the hammer ahead of this week’s OCR announcement. The group recorded a 55.8% clearance, up 14.74% year-on-year, with an average of 2.4 registered bidders and 1.8 active bidders. Ray White held 202 scheduled auctions across the country. “A solid clearance rate of 55.8% reinforced the growing dominance of auctions in today’s market landscape,” Ray White New Zealand head...
Signs of a market rebound – CoreLogic
24.4.25 New Zealand’s housing market continues to show signs of recovery, with national sales activity and dwelling values both lifting in March, supported by easing mortgage rates and renewed buyer confidence, according to CoreLogic NZ’s April Housing Chart Pack. Sales volumes were 11% higher in March compared to the same time last year, more than offsetting February’s brief dip. This marks nearly two years of gradual growth in transaction activity. “Clearly confidence levels are growing, no...
Property values bottoming
6.3.25 New Zealand property values rose by +0.3% in February, the clearest sign yet that 2024’s ‘mini downturn’ has come to an end and that 2025 will likely see modest growth, reports CoreLogic. The median national value now stands at $807,164, which is down -16.9% from the record highs in late 2021 and early 2022, but +17.1% above the pre-COVID figure of $689,353 in March 2020. After a cumulative -4.1% decline over March to September last year, the CoreLogic Home Value Index (HVI) recorded...
Precinct sells Auckland hotel
5.3.25 Precinct Properties Group has entered into a conditional agreement to sell the hotel at One Queen Street in Auckland for $180 million. Scott Pritchard, Precinct's chief executive, said, "Initially purchased in 2012 and comprehensively redeveloped by Precinct, One Queen Street has been a unique adaptive reuse project for our business which has further solidified Precinct’s role in creating a world-class waterfront destination on par with other global cities. “Our ambition was to create a...
NZ’s coastal surburbs price explosion
28.1.25 New Zealand’s top-performing coastal suburbs show substantial growth across a broad geographic distribution across both North and South Islands, says Ray White Group in a new report. The scale of growth is substantial, ranging from 110% five year growth in Canterbury's Akaroa to an extraordinary 372% growth in Auckland's Te Ara, notes Atom Go Tian, senior data analyst at the real estate group. The South Island commands a slight bias with six of the highest-growth coastal suburbs. In...
NZ housing uplift delayed
22.1.25 New Zealand’s housing market is better set for a price recovery, but an actual building activity recovery is still some way off, considers sharebrokers Jarden. Jarden has updated their NZ house price path and expect building starts for CY25 and CY26. House prices started to lift from September 2024. “We expect this recovery to continue at a rate of 0.5-1% per month through to 1QCY25, the pace to moderate thereafter and to leave CY25 up 4-6% on CY24,” comment s analyst Grant Swanepoel....
Valuation decline – what now in 2025?
Wellington property ended 2024 on a soft note 16.1.25 Property values fell -0.2% in December, marking the ninth drop in the past 10 months, according to CoreLogic's hedonic Home Value Index (HVI). The national median value in New Zealand now stands at $803,624, which is 3.9% lower than a year ago and equivalent to a drop of around $32,200. New Zealand home values are also still 17.6% below the post-COVID peak, although 16.2% higher than the pre-COVID level from March 2020. Around the main...
Shift off floating rates shaping up this year
PROPERTY MORTGAGES 16.1.25 Falls in mortgage rates have understandably meant there’s been a strong focus on the ‘short end’ of the curve, with borrowers mostly choosing floating rates or 6-12 month fixes. However, according to Kelvin Davidson chief economist at CoreLogic, the timing of a possible shift to longer-term fixed rates is shaping up as a key theme in the mortgage market this year. The increase in mortgage lending activity has been underway for more than a year, accelerating in recent...
House prices continue to flat-line
17.12.24 House prices lifted modestly over the month, after declining last month. House sales declined slightly in November, with an increase in the number of houses for sale despite lower new listings and fewer properties on the market. ASB expect house prices to flatline over 2024 given numerous headwinds, but with mortgage interest rates moving lower, the recovery will be more evident in 2025. House prices lifted modestly over the month, after declining last month. House sales declined...
OCR cut a boon for real estate sector
27.11.24 The Reserve Bank of New Zealand has announced a 0.5% rate cut, which is set to instil further confidence in the property market as we head into 2025, according to real estate group Ray White. Ray White chief economist Nerida Conisbee said this third cut was good news for the real estate sector and the broader economy. "Following the previous two cuts, this third 50-basis-point reduction demonstrates the Reserve Bank's strong commitment to reaching their target rate quickly,” Conisbee...
Housing market momentum visible
14.11.24 The seasonally adjusted REINZ House Price Index fell 0.5% m/m in October, after last month’s surprising lift. But while house prices fell, sales volumes lifted and were revised higher over recent history, says Henry Russell, an economist at ANZ in New Zealand. “Taken together with the fall in the number of days to sell, it does appear that underlying momentum in the market is shifting, consistent with the signal from the lift in the auction clearance rate over recent months. “However,...
Investore restores interim profit
14.11.24 (9.15am) Investore Property is expecting an easing in interest rates to encourage a recovery in the commercial property sector. “While macroeconomic conditions remain challenging, property transaction activity is starting to show signs of recovery as the cost of capital reduces following the commencement of an interest rate easing cycle by the Reserve Bank,” said CEO Philip Littlewood in releasing half yearly results. In the meantime, “ Investore’s portfolio of well-located, high...
Goodman Property back in the black
13.11.24 Goodman Property Trusts’ strategic focus on well-located warehouse and logistics space has contributed to strong revenue and earnings growth over the last six months (1H25). New development completions and positive leasing outcomes have contributed to net property income growth of 11.3%. Stable property valuations have also supported an improved statutory result, with GMT recording an interim profit of $45.5 million after tax. Revenue rose 1.8% to $1344.8m. An 11.3% increase in...
Overhang of unsold homes
21.8.24 House sales picked up in July after a holiday-affected June, but the overhang of unsold homes continued to put downward pressure on prices, says Michael Gordon, senior economist at Westpac. House sales* Monthly % change: +7.0% (Prev: -7.5%) Annual % change: +14.5% (Prev: -17.1%) House Price Index* Monthly % change: -0.5% (Prev: -0.2%) Annual % change: +0.2% (Prev: +1.3%) * Monthly figures based on Westpac seasonal adjustment “The REINZ report for July showed that the New...
Challenging year for Stride
28.5.24 Stride Property Group has reported a $(56.1)m loss after income tax, for the March 2024 year, reduced by $60.6m from FY23, due primarily to a smaller net reduction in fair value of investment properties. Distributable profit after current income tax of $59.1m is up 2.6% from FY23. FY24 full year dividend of 8.0 cents per share represents a payout of 74% of combined distributable profit and an 83% payout of AFFO (Adjusted Funds from Operations) Stride Property Group comprises Stride...
Mixed bag in house price trend
14.5.24 The seasonally adjusted REINZ House Price Index was little changed in April as sales remained subdued for this time of year and days to sell extended, says ANZ Bank. Key points in the month of April: The nationwide REINZ House Price Index ( HPI)l ifted0.1% m/m(sa). By region it was a mixed bag. Auckland (-0.4%), Northland, (-0.2%), Taranaki (-0.4%), Gisborne/Hawke’s Bay (-0.3%), Wellington (-0.1%) and West Coast (-0.3%) broadly offset positive growth elsewhere. Southland (+1.8%) was...
Surge in new listings on market
16.4.24 A surge in new listings has helped to boost turnover in the housing market, but is putting downward pressure on prices, notes Westpac House sales* Monthly % change: -2.1% (Prev: +17.9%) Annual % change: +8.0% (Prev: +37.9%) House Price Index* Monthly % change: -0.2% (Prev: 0%) Annual % change: +2.6% (Prev: +3.2%) * Monthly figures based on Westpac seasonal adjustment The New Zealand housing market remained soft in March. While sales have picked up from their lows, prices remain...
No rate cut of no surprise
10.4.24 The decision by the Reserve Bank of New Zealand (RBNZ) today to leave the official cash rate (OCR) unchanged at 5.5% was no surprise, noted CoreLogic NZ Chief Property Economist, Kelvin Davidson “Given the incoming flow of economic data released since their last decision in late February hasn’t emphatically moved in either direction,” he added. “In particular, most inflation measures are generally trending lower, but they remain ‘too high’, and the pace of decline in price pressures is...
Valuation affects PFI first half
26.2.24 An increased fair value drop is reflected in Property for Industry’s annual results for the year ended 31.12.213. “Strong leasing outcomes have delivered cashflow and stability,” says PFI Chief Executive Officer, Simon Woodhams. “Despite significant increases in interest rates during the year, low gearing, low vacancies and growing rents have all worked in our favour.”PFI reported a loss after tax for FY23 of $97.8m (loss of 19.48 cps), as compared to a loss of $13.9m (loss of 2.76...
New fund to target Auckland logistics
26.2.24. On the basis that a planned internalisation proceeds, Goodman Property will seek to establish a funds management platform anchored by a new Auckland logistics property fund. Initially investing up to $100 million itself, and with a commitment of up to $200 million from Goodman Group, GMT will leverage Goodman Group’s global investor relationships to secure further third-party capital. John Dakin, chair of GNZ said, "GMT's substantial Auckland industrial portfolio, urban logistics...
Property prices double in a decade
13.2.24 Despite the fall in property prices last year, the latest data from realestate.co.nz proves that prices inevitably go up in the long run. In the ten years to 2023, the average asking price in every New Zealand region has increased, with 12 of 19 regions at least doubling and the remaining six increasing by at least 50%. Of our 76 districts, 36 have increased by at least two-fold*, while a further six were up by more than 90%. Nationally, the average asking price was up by 77.5%,...
Less heat in construction costs
31.1.24 Reduced pressure on residential construction supply chains and capacity has seen annual growth in construction costs has reduced to the lowest level in around seven years. CoreLogic’s latest Cordell Construction Cost Index (CCCI) recorded a 0.8% rise in the fourth quarter of 2023. Despite a slight uptick in the pace of growth compared to each of the previous three quarters (0.4%-0.6%), it remained below the long-term average of 1.1%. This brought the annual change to 2.4%, well...
Property values rise but remain patchy
16.1.24 The CoreLogic House Price Index showed the third consecutive rise in average property values in December, with momentum building yet values remain well below the peak back in 2022. After October’s 0.4% increase and the 0.7% gain in November, December saw a rise in property values of 1.0%. This is the strongest monthly gain since January 2022 (2.1%). The average value now stands at $924,489, up 2.1% over the past three months since September’s cyclical trough. However, national property...
Precinct to redevelop Downtown car park
24.11.23 Precinct Properties Group has entered into a conditional agreement with Eke Panuku Development Auckland to acquire and redevelop the Downtown Car Park site in Auckland. Precinct will partner with Ngāti Whātua Ōrākei to redevelop the site located on the corner of Customs and Lower Albert Street. Precinct was selected as the preferred development partner in October 2022 and has since been progressing commercial negotiations. “This is an incredible, once in a generation, opportunity to...
