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Reserve Bank of New Zealand (RBNZ) Stories - Page 4

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Reserve Bank of New Zealand (RBNZ) stories

What were 2022’s top performing suburbs?
Real estate

What were 2022’s top performing suburbs?

Higher mortgage rates and tighter lending rules have left New Zealand’s housing market weaker than expected, with sales at a 12-year low.

By Michael Curreen • 6 min read • Tue, 10th Jan 2023
Higher mortgages create hesitant housing market
Real estate

Higher mortgages create hesitant housing market

Rising borrowing costs are keeping buyers on the sidelines as New Zealand sales fall 36.1% year on year and prices soften.

By Michael Curreen • 8 min read • Tue, 13th Dec 2022
‘One bright light’ amidst housing market downturn
Real estate

‘One bright light’ amidst housing market downturn

Sales rose nearly 8% in November, offering a rare sign of resilience as New Zealand’s median house price fell 12.4% year on year.

By Michael Curreen • 3 min read • Mon, 12th Dec 2022
Wellington at ‘epicentre’ of property downturn
Real estate

Wellington at ‘epicentre’ of property downturn

Mortgage holders may welcome easing nationwide declines, but Wellington is still leading the slump, with Porirua posting the steepest falls.

By Michael Curreen • 5 min read • Wed, 30th Nov 2022
Rising OCR sees borrowers look beyond big banks
Real estate

Rising OCR sees borrowers look beyond big banks

Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.

By Michael Curreen • 2 min read • Wed, 23rd Nov 2022
First home buyers increase market share amid housing downturn
Real estate

First home buyers increase market share amid housing downturn

Higher borrowing costs have not stopped New Zealand first home buyers lifting their share of purchases to 24% as prices ease.

By Staff Writer • 5 min read • Mon, 14th Nov 2022
Higher buyer interest not reflected in housing market activity
Real estate

Higher buyer interest not reflected in housing market activity

Higher interest rates are cooling New Zealand’s housing market, with sales down 34.7% and buyers hesitant despite more enquiries.

By Staff Writer • 10 min read • Mon, 14th Nov 2022
House prices not going up any time soon
Real estate

House prices not going up any time soon

Further official rate rises are likely to keep mortgage costs high and delay any rebound in New Zealand’s housing market.

By Michael Curreen • 8 min read • Tue, 1st Nov 2022
Is industrial property still top of the pops?
Agricultural Technology

Is industrial property still top of the pops?

Vacancies are at multi-year lows nationwide as booming logistics demand and tight land supply push industrial rents and values higher.

By Michael Curreen • 5 min read • Thu, 6th Oct 2022
Report reveals main drivers for house price growth
Real estate

Report reveals main drivers for house price growth

Higher urban land costs and borrowing pressures have driven New Zealand house prices up for two decades, though reforms may ease them.

By Michael Curreen • 3 min read • Wed, 31st Aug 2022
Housing market facing challenges for rest of 2022
Real estate

Housing market facing challenges for rest of 2022

Sharply higher mortgage rates and refinancing demand are set to deepen New Zealand’s property slowdown, CoreLogic warns.

By Michael Curreen • 4 min read • Wed, 3rd Aug 2022
Fix, inflate or reset?
Real estate

Fix, inflate or reset?

Higher inflation and 30-year-high interest rates are forcing landlords and tenants to renegotiate rent formulas as costs and vacancies diverge.

By Michael Curreen • 6 min read • Mon, 1st Aug 2022
Prices flatten with keen buyers still out there
Real estate

Prices flatten with keen buyers still out there

Demand is still holding up this winter, with first-home buyers helped by easier deposit rules and lending changes despite softer sales.

By Michael Curreen • 11 min read • Sun, 17th Jul 2022
June sees hat-trick of property value drops
Real estate

June sees hat-trick of property value drops

Higher mortgage costs and tighter lending are set to keep house prices under pressure, with June marking a third straight monthly fall.

By Michael Curreen • 7 min read • Tue, 5th Jul 2022
First home buyers ‘marginally’ ahead in softening market
Real estate

First home buyers ‘marginally’ ahead in softening market

Lower entry-level house prices and wider government support are nudging first-home buyers closer to ownership despite rising rates.

By Michael Curreen • 2 min read • Thu, 23rd Jun 2022
Auckland house prices down on last year
Supply Chain

Auckland house prices down on last year

The city was the only New Zealand region to post an annual fall, with sales also down 38.3% as buyers paused amid higher rates.

By Michael Curreen • 4 min read • Wed, 15th Jun 2022
Widespread fall in house prices continue
Real estate

Widespread fall in house prices continue

Tighter, costlier credit is set to deepen New Zealand's housing downturn, with CoreLogic warning of more price falls and weaker sales.

By Michael Curreen • 6 min read • Wed, 1st Jun 2022
Higher OCR will keep pressure on housing market
Real estate

Higher OCR will keep pressure on housing market

Borrowers face higher mortgage costs and further house price weakness as the Reserve Bank signals the OCR may peak around 4% by mid-2023.

By Michael Curreen • 2 min read • Fri, 27th May 2022
Soaring inflation to stunt housing construction
Housing

Soaring inflation to stunt housing construction

Higher building costs and rates rises are set to force developers to shelve projects, threatening new home supply and affordability.

By Staff Writer • 2 min read • Tue, 12th Apr 2022