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Edition Eight
January 2018
The Property Pulse is an easy to read snap shot of what is happening in the property market and wider economy. Current, relevant facts and figures collated together to help you stay up to date on what is important.
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Contents
The Market Pulse ………..………………………………………………………………. 3
House Prices ……………………………………………………………………………… 4
The Real Estate Market ………………………………………………………………… 7
The Rental Market ……………………………………………………………………… 11
Market Influences ………………….……………………………………………………13
The Market Pulse in December 2018
The 2018 year did not end with a bang. New Zealand saw the lowest number of residential sales for the month of December in the last seven years. December is typically a quiet month as it’s the start of the holiday season, but this one was particularly quiet with 787 fewer sales than December 2017. Auckland’s median house price had shown an increase of 0.2% compared to last month.
All 16 regions are showing an increase in median house price when compared to December 2017, with Manawatu, West Coast, and Gisborne all reporting double-digit increases. However, when compared to last month, only 6 of the 16 regions are showing an increase.
The median number of days to sell a property has lengthened when compared to this time last year. Nationally – 35 days (from 32 days in December 2017), New Zealand excluding Auckland – 33 days (2 days shorter than December 2017) and Auckland reporting 39 days (5 days longer than December 2017).
Looking at the mean weekly rent for our six main city
Reported mortgage interest rates for August do not display any notable change. Since the start of 2018 fixed rates have been tracked with some minor decreases and the floating rates continue to hold stable at 5.8% (reference https://www.interest.co.nz/charts/interest-rates/mortgage-rates).
Enjoy reading. Another report from the team will follow next month.
With Compliments.
The Property Crowd
Median House Prices
| New Zealand Median House Price | $560,000 |
| New Zealand Median House Price – Excl Auckland | $480,000 |
Source: https://www.reinz.co.nz/residential-property-data-gallery
Median House Prices City / Region Breakdown
Source: https://www.interest.co.nz/charts/real-estate/median-price-reinz
This table shows monthly median house prices. The data is sourced from REINZ via interest.co.nz and is subject to revision. The ‘median price’ is the middle price. It is different from the ‘average price’ (also known as the ‘mean price’). REINZ uses medians to provide a more accurate measure of the “mid-point” of house prices that reflects what most people are going to be buying and selling houses for. For more information about Median Prices see https://www.reinz.co.nz/statistics
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Median Days To Sell
| Dec-18 | Dec-17 | |
| Nationally | 35 | 32 |
| New Zealand – Excluding Auckland | 33 | 31 |
| Auckland | 39 | 34 |
Source: REINZ Monthly Property Report 13 Jan 2019
Nationwide Sales Volumes
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Regional Sales Volumes Year-on-Year
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Total Listings
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Buyer Classification – New Zealand
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Average Value of Housing Stock – Auckland
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Gross Rental Yield – National
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Median Weekly Rent and Yield (Main City Centres)
Medium Weekly Rent Source: http://www.mbie.govt.nz/info-services/housing-property/sector-information-and-statistics/rental-bond-data
Gross Yield Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Mortgage Interest Rates %
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Population Growth Compared to Building Consents
Source: CoreLogic Monthly Property Market & Economic New Zealand Update Dec 2018
Property Pulse
Edition
Date of Publication: 2 February 2019
The Property Crowd Ltd
www.thepropertycrowd.co.nz .
The Property Pulse has been proudly prepared with data & insight from CoreLogic.
This publication contains data, analytics, statistics, results and other information licensed to us by CoreLogic NZ Limited (CoreLogic Data).
© Copyright 2018. CoreLogic NZ Limited (CoreLogic) and its licensors are the sole and exclusive owners of all rights, title and interest (including intellectual property rights) subsisting in the CoreLogic Data reproduced in this publication. All rights reserved. The CoreLogic Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.
While CoreLogic uses commercially reasonable efforts to ensure the CoreLogic Data is current, CoreLogic does not warrant the accuracy, currency or completeness of the CoreLogic Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the CoreLogic Data.
www.corelogic.co.nz
Disclaimer: The Property Pulse contains information about the New Zealand property market and wider New Zealand economy. The information in this publication has been sourced from a number of external independent sources. Whilst every care has been taken to ensure the accuracy, currency and completeness of the data, no warranty of this is provided. The Property Crowd are not liable for any loss or damage, except that which cannot be excluded by law, arising in connection with the data and commentary contained in this publication. The information in this report is not advice, and should not be treated as such. It is general information only, it has been prepared without considering your personal situation and investment objectives. Before making any decision in relation to The Property Crowd, seek independent financial advice.
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