New Zealand Major City House Sales August 2018
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New Zealand Major City House Sales July 2018
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New Zealand Major City House Sales May 2018
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New Zealand Major City House Sales April 2018
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New Zealand Major City Real Estate House Sale March 2018
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New Zealand Major City Real Estate Sales January 2018
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New Zealand major City Real Estate House Sale November 2017
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All Markets Quiet For September 2017
Nobody wants to do anything in election month – all markets are down and Wellington is down 45% in terms of the sale numbers – so lots of indecision there and hand ringing.
Prediction – a very strong real estate market for 2018 with strong sales and increases in values.
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August National Sales Slow & Slow Until ???
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House Sales Settled in all Major New Zealand Cities July 2017
After 6 years of value growth in Auckland and 2 years of growth else-ware we see the market has contracted sharply – this looks to be an over correction. This occurred because the RBNZ pushed by the National Government when it felt it could hold out no longer under media pressure, introduced artificial reverse stimuli to dampen the market place.
Banks also tightened policy as they were always going to do and that would have been enough.
How did this happen! The media or fake media as Donald refers to, hounded the subject to death in late 2015/16 and the pressure built until National gave in and pushed the RBNZ or at least gave them headway to act – instead of letting market forces ease the problem as it was always going to do in 2017.
All this when we have a huge under supply of housing in NZ – Go Figure.
What’s your pick for 2018?
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House Sales in New Zealand’s Major Cities in May 2016 Compared to May 2015
Steady sales in Auckland with just 102 (3%) more sales in 2016 over 2015 and in the immediate centres near Auckland we see a similar market with Hamilton 20 (6%)mores sales and Tauranga with 1 (0%) additional sale.
In the lower north island and some south island centres such as Dunedin we see that they are still going strongly with 12, 13 and 16% more sales in these centres. This reflects the so call halo (hate that word) effect spreading more widely to centres that still have perceived value.
No need for the RBNZ or Government to panic in these numbers. The market is slowing – more houses are being built and supply has more balance.
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March 2014 – March 2015
Pressure off Mr Wheeler!
Governor of ‘The Bank’ can relax.
Having successfully killed off the modest real estate recovery of 2013 in the regions and now Auckland (down 19%), Mr Wheeler can take pride in an economy quickly returning to gloomy times.
The only centre now showing sales volume growth is Christchurch at +4%.
Christchurch is also the job growth engine – it will need to be and hopefully will be able to absorb the redundant forestry and dairy workers as those sectors face plummeting returns.
Here in Hamilton, 2014 has seen a 20% reduction in sales volumes, under those volumes of 2013. Farmers’ cheque books have been put away and stock piles of logs are sitting in Chinese ports.
Mr Wheeler is now aware he has over reacted and it flagging no further interest rate increase through to March – when he returns from holiday in the new years he will see further evidence of an economy struggling outside Auckland and Christchurch and an ever gloomier export receipt ahead of him.
In signing off, we have the Spring selling season ahead of us – let’s hope for sunshine, warmth and a sensible stable government of whichever persuasion going forward.
Happy selling and in the next life, come back as a Reserve Bank Governor.
