News

Real Estate market shows some activity in September

ByDebbie Jessup

The Real Estate Institute of NZ (REINZ) released its September monthly property report last Tuesday 15th October.    Auckland’s median price increased for the first time in 11 months – up by 3.7% compared to August 2019.  However, the increase when compared to September 2018 is only 0.2%, returning to around the $850,000 mark, where it has sat for a few years now.  So it’s too early to call this an upward trend.

The number of sales increased by 0.7% compared to August 2019, and 6.3% year-on-year.   However, new property listings decreased by -22.5% annually – the largest decrease in new listings in the North Island.   This decrease in listing numbers could have a flow-on effect and result in less sales and keen competition.  However, we usually experience a surge in new property listing during the October and November months, so time will tell.

Up to Date

Latest News

  • Is it true that a daily coffee fix could be blocking your loan approval?

    Article By Bruce Patten – Loan Market. The game has changed: Six items banks are keeping a closer eye on when assessing your loan application. Despite record low interest rates, and the recent loosening of some borrowing regulations, it’s actually becoming harder to secure a loan. Why? Because major lenders … Read more

    Read FullPost

  • The Impact of the Foreign Buyer Restrictions 1 year on

    Article By Bruce Patten – Loan Market. It’s been over a year now since the government introduced stringent new restrictions on foreigners’ ability to purchase residential property in New Zealand. There was a heated debate on the likely impact of the regulations and whether they were based in economic … Read more

    Read FullPost