Buyers are likely to continue to face limited choice

Buyers are likely to continue to face limited choice

0 개 247 KoreaPost

73909bf786eca2ceae0f7c4c1b58f08d_1599603313_7292.gif
 

The most recent shift back up the alert levels in mid-August caused appraisals generated by real estate agents to drop again (albeit by much less than during April’s lockdown), with the flow of new weekly listings subsequently also staying muted. To be fair, appraisals activity has now begun to rise again and of course we’re also poised to see the usual Spring lift for market activity. However, given the tight starting point for listings/available properties on the market, it wouldn’t be a surprise if would-be buyers continue to find only a limited selection over the next few months.

A prominent issue in the NZ residential property market for at least the last 12-18 months has been the lack of available listings, and hence the restricted choice for buyers – in turn, this has been a factor in property values largely shrugging off the effects of COVID-19 and the recession to date (except for in certain locations, such as Queenstown).

Indeed, we entered the initial lockdown in April with a low stock of existing listings on the market, and the subsequent sharp drop in appraisals generated by estate agents then flowed through to a fresh decline in new listings coming to market. The most recent move back up the alert levels in mid-August also saw appraisals decline, although they have at least begun to gradually rise again in the past week or so (see the first chart). 


The second chart illustrates these patterns for new listings. After April’s slump, the weekly flows over June and July this year(orange line) were running at or even slightly above the levels seen in 2019 and 2018 (blue and grey lines), but with that dip in appraisals through the middle of August, new listings have also been weaker on the latest readings – falling slightly below the levels of the past two years. Although appraisals have begun to rise again and there’ll also be the usual seasonal lift of Spring, the bottom line is that the COVID disruptions mean that the supply situation doesn’t look likely to ease significantly in the near term.


73909bf786eca2ceae0f7c4c1b58f08d_1599603331_396.gif
 


The continued tightness for the weekly flow of new listings (and also the existing stock on the market) can be seen across much of the country, however, there are interesting hints that conditions in the previously very tight Dunedin market may have just started to buck the trend a little. Indeed, despite the hiatus caused by April’s lockdown, the third chart shows that the cumulative total for new listings in Dunedin in 2020 to date (circa 2,000) is only about 5% below where it was (about 2,100) at the same stage last year. 


 


For context, the national total so far this year (roughly 87,000) is more than 10% down on 2019’s figure.


What about in the rental market? As the fourth chart shows, new listings across NZ as a whole were also hit hard by lockdown – and, if anything, have been tracking even lower (compared to past levels) than for-sale listings. Certainly, there’s little evidence here that the feared flood of Airbnb-type properties into the traditional long-term rental sector has been a factor so far.


Overall, the gyrations of the moves up and down the alert levels aren’t doing much to help ease the supply/listings side of the housing market. And there may not be much respite on the horizon either, especially if existing owner-occupiers generally continue to stay where they are (and hence don’t list their property), precisely because they’re worried about not finding their ideal next property. It’s a vicious circle.


Source: CoreLogic Media 

Waiheke’s Te Matuku Awaawaroa Walkway open ag…

댓글 0 | 조회 291 | 2020.10.08
Track diversion work complete to protect kauriTe Matuku Awaawaroa Walkway has been re-opened following completion of work to divert over 1 kilometre o… 더보기

Deconstruction: a blueprint for zero waste

댓글 0 | 조회 321 | 2020.10.07
When Saia Latu was approached to help replace roofs damaged by cyclones in Tonga, he wasn’t sure where to begin.He got the strong feeling that he coul… 더보기

3 new imported cases of COVID-19,07 October

댓글 0 | 조회 547 | 2020.10.07
There are three new cases of COVID-19 to report from managed isolation in New Zealand today. There are no new cases in the community.The first two cas… 더보기

Transport in Auckland under Alert Level 1

댓글 0 | 조회 468 | 2020.10.07
The Government has announced that New Zealand is moving Alert Level 1 on Wednesday, October 7 at 11.59pm. This means Auckland Transport (AT) services … 더보기

Mayor Goff welcomes Auckland’s move to COVID-…

댓글 0 | 조회 472 | 2020.10.05
Mayor Phil Goff has welcomed the government’s decision to move to COVID-19 Alert Level 1 from 11.59pm on Wednesday 7 October.“Aucklanders have for the… 더보기

1 new case of COVID-19, 05 October

댓글 0 | 조회 995 | 2020.10.05
There is one new confirmed case of COVID-19 to report from managed isolation in New Zealand today and no new confirmed cases in the community.The pers… 더보기

Weekly earnings data now available in the exp…

댓글 0 | 조회 464 | 2020.10.04
Median weekly earnings were $1,034.87 in the week ending 23 August, down 0.2 percent from the previous week, a new experimental indicator shows, Stats… 더보기

Aotea Square’s history brought to life in new…

댓글 0 | 조회 244 | 2020.10.04
A new app is encouraging Aucklanders to travel back in time to discover a part of Aotea Square’s history.Created by Geo AR Games,Aotea Storiesis an au… 더보기

1 new case of COVID-19, 03 October

댓글 0 | 조회 910 | 2020.10.03
There is one new confirmed case of COVID-19 to report from managed isolation in New Zealand today and no new confirmed cases in the community.The pers… 더보기

Auckland Harbour Bridge: Public transport opt…

댓글 0 | 조회 339 | 2020.10.03
Auckland Transport (AT) is reminding customers of their options for public transport during the Harbour Bridge’s full southbound lane closures this we… 더보기

No new cases of COVID-19, 02 October

댓글 0 | 조회 314 | 2020.10.02
There are no new cases of COVID-19 to report in New Zealand today.That means our total number of confirmed cases of COVID-19 remains at 1,492, which i… 더보기

More than 10,000 townhouses, flats, and units…

댓글 0 | 조회 415 | 2020.10.02
A record 10,063 townhouses, flats, and units were consented in the August 2020 year, Stats NZ said today.“August 2020 saw the annual number of townhou… 더보기

Transforming Auckland’s ferry services

댓글 0 | 조회 222 | 2020.10.02
A new video released today shows Auckland’s new downtown ferry berths rapidly taking shape, ready for Aucklander’s to use in early 2021.Funded by Auck… 더보기

12 new cases of COVID-19, 01 October

댓글 0 | 조회 1,237 | 2020.10.01
There are 12 new cases of COVID-19 to report today, all detected in managed isolation. All have been transferred to a dedicated quarantine facility.Th… 더보기

Pharmacist prescribers able to prescribe spec…

댓글 0 | 조회 462 | 2020.10.01
A change to prescribing rules will make it easier for New Zealanders to get the medicines they need, according to both the Ministry of Health and PHAR… 더보기

Piha Surf lifesavers get $10,000 grant for em…

댓글 0 | 조회 551 | 2020.09.30
Waitākere Ranges Local Board has allocated a $10,000 grant towards the purchase of a diesel generator for Piha Surf Lifesaving Club.The decision was m… 더보기

1 new case of COVID-19, 30 September

댓글 0 | 조회 394 | 2020.09.30
There is one new case of COVID-19 to report in managed isolation in New Zealand today and no new cases in the community.The person who has tested posi… 더보기

Hurstmere Road enhancements on track

댓글 0 | 조회 280 | 2020.09.30
Auckland Council has this week confirmed that the delivery of the Hurstmere Road enhancement project is on track to be delivered in late 2021 as forec… 더보기

2 new cases of COVID-19, 29 September

댓글 0 | 조회 548 | 2020.09.29
There are two new cases of COVID-19 to report in New Zealand today.Both are imported cases detected in a managed isolation facility. One person arrive… 더보기

Feedback sought on proposed northwest bus imp…

댓글 0 | 조회 238 | 2020.09.29
Auckland Transport and Waka Kotahi NZ Transport Agency are asking for feedback on a proposal to significantly improve public transport connections to … 더보기

Migrant and former refugee women supported th…

댓글 0 | 조회 269 | 2020.09.28
Waitematā Local Board has shown support for migrant and former refugee women by providing funding to Belong Aotearoa, a social change organisation tha… 더보기

No new cases of COVID-19, 28 September

댓글 0 | 조회 348 | 2020.09.28
There are no new cases of COVID-19 to report in New Zealand today.There are 18 people isolating in the Auckland quarantine facility from the community… 더보기

Education sector lifts August job numbers

댓글 0 | 조회 368 | 2020.09.28
Job numbers rose in August 2020, largely due to a rise in filled jobs in education and training, Stats NZ said today.“Filled jobs increased across the… 더보기

Student kaitiaki wanted to work in the best w…

댓글 0 | 조회 283 | 2020.09.28
Auckland Council is on the lookout for 14 student rangers to join the regional parks team for a three-month paid internship this summer.Applications a… 더보기

2 new cases of COVID-19, 27 September

댓글 0 | 조회 452 | 2020.09.27
Today there are two cases of COVID-19 in managed isolation to report in New Zealand.Of today’s cases, both are imported cases detected in a managed is… 더보기

A community approach to food security in Maun…

댓글 0 | 조회 341 | 2020.09.27
Local food banks have grown enormously during the COVID-19 pandemic. Many services are run at council-supported locations are working hard to meet inc… 더보기

1 new case of COVID-19 and 1 historical case,…

댓글 0 | 조회 364 | 2020.09.27
Today there are two cases of COVID-19 to report in New Zealand.Of today’s cases, one is an imported case detected in a managed isolation facility and … 더보기

Imports fall leads to annual trade surplus

댓글 0 | 조회 346 | 2020.09.26
Imports fell nearly $1 billion in August 2020, leading to the largest annual trade surplus since 2014, Stats NZ said today.The $1.3 billion annual goo… 더보기

3 cases of COVID-19, 25 September

댓글 0 | 조회 1,064 | 2020.09.25
Today there are three new cases of COVID-19 to report in New Zealand – all detected in recent returnees in managed isolation facilities. There are no … 더보기

Northern regions lead population growth

댓글 0 | 조회 376 | 2020.09.25
New Zealand’s four northernmost regions accounted for almost 60 percent of the country’s population growth between 2013 and 2019, Stats NZ said today.… 더보기

Pharmacists recognized for the vital work the…

댓글 0 | 조회 352 | 2020.09.25
Today is World Pharmacists Day and the Ministry of Health would like to thank pharmacists, technicians and their teams for the important part they pla… 더보기

3 cases of COVID-19, 24 September

댓글 0 | 조회 185 | 2020.09.25
Today there are three new cases of COVID-19 to report in New Zealand – all detected in recent returnees in managed isolation facilities. There are no … 더보기

Young men hardest to count in census

댓글 0 | 조회 338 | 2020.09.23
Men, especially those aged 15–29 years, were more likely to be missed than women in the 2018 Census, according to the 2018 post-enumeration survey (PE… 더보기

New Zealand’s population nears 5.1 million

댓글 0 | 조회 454 | 2020.09.23
New Zealand’s estimated resident population reached 5,084,300 at 30 June 2020, Stats NZ said today.These are the first population estimates to fully i… 더보기

3 new cases of COVID-19 and 6 historical case…

댓글 0 | 조회 1,282 | 2020.09.23
Today there are three new cases of COVID-19 to report in New Zealand and for the first time six historical cases are being reported, made up of one co… 더보기

Illegal landings net chopper company and pilo…

댓글 0 | 조회 363 | 2020.09.23
Illegally dropping off and collecting hunters from a designated wilderness area in the Kaimanawa Ranges has cost a helicopter company and pilot a comb… 더보기

Harbour Bridge closure all southbound lanes t…

댓글 0 | 조회 288 | 2020.09.22
All southbound lanes of the Auckland Harbour Bridge into the city centre will be closed to all traffic from 9pm overnight Tuesday 22 September to allo… 더보기

No new cases of COVID-19, 22 September

댓글 0 | 조회 270 | 2020.09.22
There are no new cases of COVID-19 to report in New Zealand today.There are 39 people isolating in the Auckland quarantine facility from the community… 더보기

Tsunami siren test on 27 September

댓글 0 | 조회 384 | 2020.09.22
Auckland’s tsunami siren test will take place at noon on Sunday 27 September 2020, coinciding with the start of daylight saving.“It’s important to tes… 더보기

Survey highlights motivations for time in nat…

댓글 0 | 조회 304 | 2020.09.22
The New Zealanders in the Outdoors survey, undertaken before the impacts of COVID-19, between September 2018 and February 2020, gleaned comments and r… 더보기

No new cases of COVID-19, 21 September

댓글 0 | 조회 680 | 2020.09.21
There are no new cases of COVID-19 to report in New Zealand today.An update on the case we reported over the weekend – the man who is a recent returne… 더보기

DOC 2019/20 visitor data

댓글 0 | 조회 446 | 2020.09.21
DOC has released visitor data from selected popular public conservation areas for the year ending February 2020, prior to COVID-19 travel restrictions… 더보기

Mayor Phil Goff welcomes Auckland’s move to L…

댓글 0 | 조회 573 | 2020.09.21
Auckland Mayor Phil Goff welcomes the government’s decision to move the city to COVID-19 Alert Level 2 from 11.59pm on Wednesday 23 September and remi… 더보기

4 new cases of COVID-19, 20 September

댓글 0 | 조회 1,358 | 2020.09.20
There are four new cases of COVID-19 to report in New Zealand today; two community cases and two cases in managed isolation.The two community cases ar… 더보기

More resources for kiwi conservation

댓글 0 | 조회 326 | 2020.09.20
New Zealand’s goal of 100,000 kiwi by 2030 is being helped by an extra $19.7 million in funding to accelerate iwi and community efforts to protect kiw… 더보기

Auckland Council reviews regional approach to…

댓글 0 | 조회 322 | 2020.09.20
The council manages weeds and edges on footpaths, berms and the kerb and channel in the urban road corridor and, since a change last year, it has been… 더보기

2 new cases of COVID-19, 19 September

댓글 0 | 조회 783 | 2020.09.19
There are two new cases of COVID-19 to report in New Zealand today; the first has been detected in a recent returnee in a managed isolation facility a… 더보기

Waitematā Local Board backs Leys Institute re…

댓글 0 | 조회 177 | 2020.09.19
The development of a detailed business case for the restoration, modernisation and seismic remediation of the Leys Institute buildings has been given … 더보기

National will cut taxes for hard-working Kiwi…

댓글 0 | 조회 242 | 2020.09.19
National’s massive tax stimulus package will put more than $3000 extra into the pockets of hard-working Kiwis on middle incomes, National Party Leader… 더보기

No new cases of COVID-19, 18 September

댓글 0 | 조회 569 | 2020.09.18
There are no new cases of COVID-19 to report in New Zealand today.There are 54 people linked to the community cluster who remain in the Auckland quara… 더보기