Ten NZ property market predictions for the rest of 2019. Kelvin Davidson from CoreLogic shares his insight.
Here’s prediction number #2. High level market trends:
2. Average property values still rising but in a restrained fashion, with the more affordable towns and cities in ‘regional NZ’ likely to record the largest increases. By contrast, it wouldn’t be a surprise to see further weakness in Auckland – as buyers bide their time.
Read his other 9-predictions here:
http://ow.ly/WV7I50uM2PF
What you need to know to move on from your lifestyle block.
Living on a lifestyle block is an excellent way of life – for those who have the time to dedicate to the expansive property. Many, however, find that they are a lot of hard work to keep up with, especially approaching retirement.
Learn more about key steps involved in buying a property in New Zealand, here.
http://ow.ly/l2Ex50uFfhT
Kiwi DIY certainly has its place; however, some property owners are either time starved and or lack the skill and confidence to manage a reno project on their own home.
Earlier today our sales team welcomed Matt Hartigan- Refresh Renovations to introduce their company’s specialist services. It became clear that this company have identified a market niche and place planning, budgeting and project management at the forefront of every client project.
What surprised me most was they will consider project of varying budget and not just high value contracts.
Check them out online:
http://ow.ly/wObF50uB1zy
New Zealand’s median weekly rent reached $500 for the first time in April after a 5.3 per cent annual increase and strong growth in the provinces, according to the latest Trade Me Rental Price Index.
Manawatu/Whanganui topped the charts for year-on-year growth,
with the median rent rising 20 per cent,Southland (up 18.5 per cent.
Full article from Stuff—
http://ow.ly/foOQ50uqwxu
Southland shone through as the largest median house price percentage gainer around the country in April, as prices rose more than 22%, to a record $300,000.
Read the ODT article here:
http://ow.ly/7KJq50ucbV3
Earlier in the week I reviewed the number of rental properties marketed online for let in Invercargill with that number being circa 61. Our property management team considered this low level of availability remains well below appropriate stock levels to respond to current market demand. The other characteristic is property rents at / +$400 per week are challenge to connect with prospective tenants.
This STUFF news article overnight supports our understanding of the current market.
“The average rental price in Southland has hit a new record of $300 but the reality is people are paying closer to $400 a week.”
Read more: http://ow.ly/NaAo50u5B69
Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking.
Queenstown Area Sales by Property Type
Report Period: Calendar Year to date- January – December 2018 comparing 2017
□ REINZ reported sales. Private / Developer direct sales not included.
| Property Type | Jan – Dec 2018 | Jan – Dec 2017 | Variance +/- |
| Residential Dwellings (RD) | 402 sales | 378 sales | +6.35% |
| RD Median Sell Price | $1,172,500 | $1,050,000 | +11.6% |
| Apartments (A) | 103 sales | 80 sales | +28.7% |
| A Median Sell Price | $605,000 | $629,500 | -3.8% |
| Units (U) | 104 sales | 76 sales | +36.8% |
| U Median Sell Price | $710,000 | $672,000 | +5.6% |
| Townhouses (TH) | 44 sales | 38 sales | +15.7% |
| TH Median Sell Price | $950,000 | $877,500 | +8.2% |
| Residential Sections (RS) | 167 sales | 265 sales | -36.9% |
| RS Median Sell Price | $599,000 | $374,000 | +60.1% |
| Rural Dwellings (RD) | 19 sales | 23 sales | -17.3% |
| RD Median Sell Price | $2,185,000 | $2,700,000 | -19.0% |
| Rural Blocks (RB) | 45 sales | 38 sales | +18.4% |
| RB Median Sell Price | $1,387,500 | $1,350,000 | +2.7% |
| Total Sales Numbers | 884 sales | 898 sales | -1.56% |
| Value of Sales $ | $1,035,488,624 | $973,467,385 | +6.3% |
January – December 2018 comparing same period Year-to-date 2017:
REINZ Reported sales by price of Queenstown Residential Homes
January – December 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| $351,000 – $450,000 | 0.2% | 1.3% |
| $451,000 – $650,000 | 2.7% | 3.4% |
| $651,000 – $999,000 | 34.8 % | 42.8% |
| $1.0m – $1.999m | 47.4% | 37.0% |
| $2.0m plus | 14.9% | 15.4% |
REINZ Reported sales by price covering all property types —
(Homes, Units, Apartments and Townhouses).
January- December 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$350,000 | 2.8% | 2.4% |
| $351,000 – $450,000 | 2.8% | 3.2% |
| $451,000 – $650,000 | 11.3% | 10.7% |
| $651,000 – $999,000 | 38.6% | 43.1% |
| $1.0m – $1.999m | 34.5% | 29.9% |
| $2.0m plus | 10.0% | 10.7% |
REINZ Reported sales by price of Residential Sections.
January- December 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$199,000 | 0.6% | 5.2% |
| $200,000 – $299,000 | 3.0% | 34.0% |
| $300,000 – $499,000 | 32.9% | 25.7% |
| $500,000 – $749,000 | 37.1% | 14.3% |
| $750,000 – $999,000 | 7.2% | 9.8% |
| $1.0m – $2.0m | 19.2% | 11.0% |
Data Source: REINZ. Private & Developer direct sales data not included.
Disclaimer: While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.
Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking.
Queenstown Area Sales by Property Type
Report Period: Calendar Year to date- January – November 2018 comparing 2017
□ REINZ reported sales. Private / Developer direct sales not included.
| Property Type | Jan – Nov 2018 | Jan – Nov 2017 | Variance +/- |
| Residential Dwellings (RD) | 382 sales | 348 sales | +9.7% |
| RD Median Sell Price | $1,175,000 | $1,050,000 | +11.9% |
| Apartments (A) | 100 sales | 70 sales | +42.8% |
| A Median Sell Price | $595,000 | $605,500 | -1.7% |
| Units (U) | 99 sales | 70 sales | +41.3% |
| U Median Sell Price | $710,000 | $677,500 | +4.8% |
| Townhouses (TH) | 44 sales | 35 sales | +25.7% |
| TH Median Sell Price | $950,000 | $880,000 | +7.9% |
| Residential Sections (RS) | 159 sales | 247 sales | -35.6% |
| RS Median Sell Price | $599,000 | $345,000 | +73.6% |
| Rural Dwellings (RD) | 17 sales | 23 sales | -26.0% |
| RD Median Sell Price | $2,189,500 | $2,920,000 | -25.0% |
| Rural Blocks (RB) | 41 sales | 34 sales | +20.5% |
| RB Median Sell Price | $1,550,000 | $1,327,500 | +16.7% |
| Total Sales Numbers | 842 sales | 828 sales | +1.6% |
| Value of Sales $ | $985,374,178 | $899,791,182 | +9.5% |
January – November 2018 comparing same period Year-to-date 2017:
REINZ Reported sales by price of Queenstown Residential Homes
January – November 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| $351,000 – $450,000 | 0.2% | 1.4% |
| $451,000 – $650,000 | 2.6% | 3.4% |
| $651,000 – $999,000 | 34.9% | 42.5% |
| $1.0m – $1.999m | 47.2% | 36.8% |
| $2.0m plus | 15.1% | 15.9% |
REINZ Reported sales by price covering all property types —
(Homes, Units, Apartments and Townhouses).
January- November 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$350,000 | 2.8% | 2.6% |
| $351,000 – $450,000 | 2.8% | 3.0% |
| $451,000 – $650,000 | 11.6% | 10.1% |
| $651,000 – $999,000 | 38.6% | 43.6% |
| $1.0m – $1.999m | 34.2% | 29.8% |
| $2.0m plus | 10.0% | 10.9% |
REINZ Reported sales by price of Residential Sections.
January- November 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$199,000 | 0.6% | 5.6% |
| $200,000 – $299,000 | 3.2% | 36.0% |
| $300,000 – $499,000 | 32.1% | 26.0% |
| $500,000 – $749,000 | 37.2% | 11.2% |
| $750,000 – $999,000 | 7.5% | 10.6% |
| $1.0m – $2.0m | 19.4% | 10.6% |
Data Source: REINZ. Private & Developer direct sales data not included.
Disclaimer: While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.
Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking.
Queenstown Area Sales by Property Type
Report Period: Calendar Year to date- January – October 2018 comparing 2017
□ REINZ reported sales. Private / Developer direct sales not included.
| Property Type | Jan – Oct 2018 | Jan – Oct 2017 | Variance +/- |
| Residential Dwellings (RD) | 341 sales | 316 sales | +7.9% |
| RD Median Sell Price | $1,175,000 | $1,050,000 | +11.9% |
| Apartments (A) | 93 sales | 57 sales | +63.1% |
| A Median Sell Price | $535,000 | $590,000 | -9.3 % |
| Units (U) | 88 sales | 67 sales | +31.3% |
| U Median Sell Price | $710,000 | $680,000 | +4.4 % |
| Townhouses (TH) | 36 sales | 33 sales | +9.0% |
| TH Median Sell Price | $885,326 | $900,000 | -1.6% |
| Residential Sections (RS) | 139 sales | 242 sales | -42.5 % |
| RS Median Sell Price | $600,000 | $342,500 | +75.1% |
| Rural Dwellings (RD) | 14 sales | 22 sales | -36.3 % |
| RD Median Sell Price | $2,167,625 | $2,625,000 | -17.4% |
| Rural Blocks (RB) | 40 sales | 31 sales | +29.0% |
| RB Median Sell Price | $1,592,500 | $1,500,000 | +6.1% |
| Total Sales Numbers | 751 sales | 768 sales | -2.2% |
| Value of Sales $ | $885,647,178 | $830,466,850 | +6.4% |
January – October 2018 comparing same period Year-to-date 2017:
REINZ Reported sales by price of Queenstown Residential Homes
January – October 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| $351,000 – $450,000 | 0.2% | 1.5% |
| $451,000 – $650,000 | 2.6% | 3.6% |
| $651,000 – $999,000 | 34.4% | 43.0% |
| $1.0m – $1.999m | 46.9% | 36.0% |
| $2.0m plus | 15.9% | 15.9% |
REINZ Reported sales by price covering all property types —
(Homes, Units, Apartments and Townhouses).
January- October 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$350,000 | 3.2% | 2.7% |
| $351,000 – $450,000 | 3.2% | 3.0% |
| $451,000 – $650,000 | 12.6% | 10.4% |
| $651,000 – $999,000 | 36.7% | 43.5% |
| $1.0m – $1.999m | 34.0% | 29.5% |
| $2.0m plus | 10.3% | 10.9% |
REINZ Reported sales by price of Residential Sections.
January- October 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$199,000 | 0.7% | 4.9% |
| $200,000 – $299,000 | 3.6% | 36.7% |
| $300,000 – $499,000 | 31.6% | 26.4% |
| $500,000 – $749,000 | 36.8% | 11.2% |
| $750,000 – $999,000 | 7.2% | 10.4% |
| $1.0m – $2.0m | 20.1% | 10.4% |
Data Source: REINZ. Private & Developer direct sales data not included.
Disclaimer: While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.
Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking.
Queenstown Area Sales by Property Type
Report Period: Calendar Year to date- January – September 2018 comparing 2017
□ REINZ reported sales. Private / Developer direct sales not included.
| Property Type | Jan – Sept 2018 | Jan – Sept 2017 | Variance +/- |
| Residential Dwellings (RD) | 292 sales | 284 sales | +2.8% |
| RD Median Sell Price | $1,162,500 | $1,040,000 | +11.7% |
| Apartments (A) | 84 sales | 54 sales | +55.5% |
| A Median Sell Price | $529,500 | $587,500 | -9.8% |
| Units (U) | 82 sales | 63 sales | +30.1% |
| U Median Sell Price | $710,000 | $695,000 | +2.1% |
| Townhouses (TH) | 34 sales | 31 sales | +9.6% |
| TH Median Sell Price | $885,326 | $900,000 | -1.6% |
| Residential Sections (RS) | 121 sales | 205 sales | -40.9% |
| RS Median Sell Price | $575,000 | $360,000 | +59.7% |
| Rural Dwellings (RD) | 12 sales | 21 sales | -42.8% |
| RD Median Sell Price | $2,070,625 | $2,550,000 | -18.8% |
| Rural Blocks (RB) | 28 sales | 29 sales | -3.4% |
| RB Median Sell Price | $1,325,000 | $1,350,000 | -1.8% |
| Total Sales Numbers | 653 sales | 687 sales | -4.9% |
| Value of Sales $ | $739,678,750 | $740,878,351 | – 0.1% |
January – September 2018 comparing same period Year-to-date 2017:
REINZ Reported sales by price of Queenstown Residential Homes
January – September 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| $351,000 – $450,000 | n/a | 1.7% |
| $451,000 – $650,000 | 2.7% | 3.8% |
| $651,000 – $999,000 | 35.2% | 43.0% |
| $1.0m – $1.999m | 47.2% | 36.6% |
| $2.0m plus | 14.7% | 15.1% |
REINZ Reported sales by price covering all property types —
(Homes, Units, Apartments and Townhouses).
January- September 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$350,000 | 3.4% | 3.0% |
| $351,000 – $450,000 | 3.4% | 3.4% |
| $451,000 – $650,000 | 12.0% | 11.0% |
| $651,000 – $999,000 | 37.9% | 43.2% |
| $1.0m – $1.999m | 34.0% | 29.3% |
| $2.0m plus | 9.3% | 10.1% |
REINZ Reported sales by price of Residential Sections.
January- September 2018 comparing same period Year-to-date 2017
| Price Band | % of Total Sales 2018 | % of Total Sales 2017 |
| <$199,000 | 0.8% | 0.4% |
| $200,000 – $299,000 | 4.1% | 38.5% |
| $300,000 – $499,000 | 32.2% | 27.8% |
| $500,000 – $749,000 | 38.8% | 10.7% |
| $750,000 – $999,000 | 6.6% | 12.1% |
| $1.0m – $2.0m | 17.5% | 10.4% |
Data Source: REINZ. Private & Developer direct sales data not included.
Disclaimer: While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.
