Property Market stories
Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.
The move leaves Auckland’s tallest tower site back on the market as ICD Property refocuses on Australian projects amid a weaker global economy.
Higher interest rates are cooling New Zealand’s housing market, with sales down 34.7% and buyers hesitant despite more enquiries.
Further official rate rises are likely to keep mortgage costs high and delay any rebound in New Zealand’s housing market.
Projects risk missing tenants and returns unless developers align design and operations from the outset, a UKO co-founder says.
Farm sales have fallen sharply as higher costs, volatile weather and policy pressure weigh on rural confidence across New Zealand.
Higher rates and living costs are keeping sales subdued, even as more first-home buyers and bidders return to spring open homes.
Tenants including EY and Fujitsu are moving into a seismically resilient six-storey building, lifting Wellington’s office supply by 10,049sqm.
Vacancies are at multi-year lows nationwide as booming logistics demand and tight land supply push industrial rents and values higher.
Desirable school zones are propping up prices and fuelling buyer demand as families hunt for homes with stronger future resale prospects.
Most New Zealanders want flood-risk homes disclosed, as a survey warns opaque climate messaging could damage trust across property markets.
Rising costs, labour shortages and patchy demand are forcing trades firms to adapt fast as construction failures mount and projects stay funded.
Affordable Southland is drawing first home buyers and investors, with Invercargill’s median house price hitting a record NZD $488,000 in August.
Rising mortgage rates and inflation are still weighing on New Zealand property sales, though agents are seeing more first-home buyers returning.
Softening house prices could tempt vendors to go private, but agents still deliver about 15% more on average, Century 21 says.
Higher urban land costs and borrowing pressures have driven New Zealand house prices up for two decades, though reforms may ease them.
A third of the 400 apartments are already occupied as the 59-level Southbank tower opens, signalling stronger demand for rental stock in Melbourne.
Industrial rents are being pushed higher by record-low vacancy, as office and retail markets in Auckland, Wellington and Christchurch tighten.
Higher inflation and 30-year-high interest rates are forcing landlords and tenants to renegotiate rent formulas as costs and vacancies diverge.
Materials shortages and labour pressures have pushed CoreLogic’s residential construction index to its steepest annual rise since late 2012.
