Gisborne stories
Buyers are getting more choice as supply improves, even though New Zealand house prices hit fresh records in November and growth begins to ease.
New Zealand’s median house price climbed by NZD $100,000 in October, with 10 regions hitting record highs amid tight supply and strong demand.
Property values rose 1.4% nationally in September, but activity is easing as tighter lending and higher rates weigh on buyers.
Lockdown has not cooled demand, with New Zealand house prices hitting another record as spring listings are delayed and buyers stay active.
Nearly half the reports involved firms that may have been open illegally, as WorkSafe reviewed 582 alleged Covid-19 breaches.
Affordability pressures are starting to bite, with Hamilton and Rotorua both posting quarterly falls after a rapid run-up in values.
Record prices are still climbing, but a drop in sales and inventories suggests winter may not be the only reason for the slowdown.
Borrowers face tighter lending rules as the Reserve Bank moves to curb risky loans amid house values rising 1.8% in July.
Two forestry firms have been fined more than GBP £600,000 after a worker was struck and killed in a preventable logging accident on the East Coast.
New records in prices and sales show demand is still outpacing supply, despite efforts to cool New Zealand's property market.
Values are already falling in Gisborne, New Plymouth and Napier as nationwide house-price growth cools and rate rises loom.
Cheaper provincial suburbs have driven New Zealand's property boom, with Manunui up 51.8% and Hargest selling in just six days.
Record-low inventory is pushing New Zealand house prices higher, leaving first-time buyers with fewer affordable options.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
Sales fell by more than 2,500 from March as investors and first-time buyers took a wait-and-see approach to tighter lending rules.
Investors in Manawatu/Wanganui saw 25.3% capital gains and 4.0% yields, making it the country’s standout residential market.
Record prices and a 14-year sales high show New Zealand's housing market is still racing ahead despite tighter lending rules and tax changes.
Sales surged 14.6% year on year in February as buyers rushed to secure homes before loan-to-value restrictions returned in March.
Average household incomes rose just 1.3% last quarter, leaving New Zealand house prices at their least affordable level since records began in 2004.
New Zealand’s housing market remained brisk in January despite a modest month-on-month price fall, with sales and auctions both at multi-year highs.
