Articles by Victoria Day

The impact of this Lockdown has been an increase in the rate of property value growth and as before this is in the main due to a reduced number of properties available for sale and our appetite for homes which has been putting extra upward pressure on their values. Demand has continued and confidence has remained firm in the market - although there are some expectations that…

We all have our fingers crossed that life will return to a new normal whatever that looks like but there is nothing normal about the housing market as it just keeps on rolling! Lockdown or no lockdown the statistics speak for themselves. The momentum for Franklin for the month of August showed to be true with the Median price for Franklin rising to $950,000 up by 33.8% on a year…

The numbers of inquiries about property listings have surged over the course of this lockdown and signalling a big increase in interest. It has been stronger this level 4 lockdown than in the level 4 lockdown of last year and despite being in level 4 neither buyer nor sellers have been deterred. Confidence has remained in the market, and many people are more optimistic this time…

Whilst the official cash rate remains unchanged at least for now there are predications that the expected increase forecasted for the end of 2022 may have to be bought forward. This is a tricky balancing act for the RBNZ, in trying to pre-empt a rise in inflation without pushing up the exchange rate too much (and hence dampening exports). This directly affects the housing…

The Auckland housing sales data for the month of May is showing no hint that the restrictions introduced in March are having any impact on the prices or sales volume. The median house price for Auckland for the period rose over the record achieved in April 2021 and the highest May on record for 4 years. The Auckland median price of $1,073,000 was up 2.2% from April which rose…

Accepting the fact that April last year was our great lockdown, April was the strongest it has been for 5 years. Inventory levels continue to fall and whilst adjusted for the seasonal norm of the autumn/winter period they still continue to place still more pressure on the housing market. Low supply and high demand holds prices! There have been less investors in the market for…

March 2021 was a month of firsts! But quite a mixed bag and the effects of some have yet to be seen in the market: Median days to sell the lowest for a March since records began. Inventory levels continue to fall, placing pressure on the housing market, decreasing 6.1% in March 2021 from March 2020 levels – in total that is 1265 fewer properties available to the market and 8791…

As we recently marked a year since the first Covid-19 case was reported in New Zealand, latest figures from realestate.co.nz suggest that despite the many challenges of the pandemic, Kiwis’ appetite for property hasn’t diminished. Resilient housing market shows 12.7% year-on-year price growth. The housing market has performed in a way that few people would have expected 12…

While New Zealanders were on holiday sunning themselves the housing market was hard at work. The housing market has delivered a scorching January amid what economists say is the biggest housing boom in 17 years. In 12 months the country’s median house price has jumped 19 percent to $730,000, with four regions cracking new records - The Bay of Plenty, Hawkes Bay, Taranaki and…

Property Investors are the dominant buyer group in the market with data just being released for December 2020 which shows they have been making the biggest share of purchases. Buyers using cash accounted for 12% of the multiple property buyers and a further 27% are using multiple properties to leverage equity through – in total 39% of the market are investors. This is not the…

It has been 13 years since we have seen sales hit over 10,000 in a month but that’s what happened last month – against a backdrop of low level of listings. There are a good number coming to the market but the high turnover rate means that there are not enough for the demand that exists. A persistent lack of stock is contributing to the rising house values – this is particularly…

Sales volumes in September were nothing but exceptional and this continued into October. The estimated total for September sales of 9,666 was the single strongest month for more than four years, and it ranks sixth in the list of most active months dating back to May 2007. Given that year to date volumes are essentially at parity with the same stage in 2019, there is probably…

A month on from the re-emergence of Covid 19 in New Zealand, property prices are showing resilience to the current economic and social restrictions. The market has suffered a delay in the number of properties coming to the market as a result of these restrictions. Meaning that the supply will be constrained as we roll into the traditionally higher listing period of spring and…

Sales volumes have returned to normal in June, they were the highest for the month of June in four years - indicating that the impact of lockdown is truly behind the country and people are making positive decisions about their futures. Predictions that house prices would fall dramatically post COVID are not demonstrated in the market and certainly not in our area. There are…