Patchy price falls starting to appear across New Zealand suburbs

Patchy price falls starting to appear across New Zealand suburbs

0 개 874 KoreaPost

0442a5a05164d8c566f50cbce4b25f48_1648065282_8425.gif 

New Zealand’s housing market has reached a clear turning point, as stretched affordability, higher mortgage rates and reduced credit availability cause growth rates to slow, or even turn  , in many areas of the country.


CoreLogic NZ’s interactive Mapping the Market Report, which is updated quarterly and compiled using the country’s most comprehensive property data, has begun to show signs of weakness in dozens of suburbs.


Aotearoa’s property market proved highly resilient in 2021, maintaining feverish growth levels through COVID, snap lockdowns and border closures. But Mapping the Market’s latest release shows 154 suburbs have recorded falls in median values in the three months to February 2022, while 581 posted gains of 1.0% or more for the period.


CoreLogic NZ’s Chief Property Economist Kelvin Davidson said this quarter’s Mapping the Market had beena djusted to focus on the three-month value change (rather than the previous, slower-moving 12-month change), to give a more current and timely view of what’s been happening recently.


 


He said the altered comparison period neatly encapsulated the state of flux around market impacts from changes to loan to valuation ratios (1 November), credit contracts and consumer finance laws (1 December) and the spread of the Omicron variant.


“The figures are pretty revealing,” he said. “At the headline level Mapping the Market shows an emerging weakness in parts of Auckland, Hamilton, Napier/Hastings, Wellington (especially Lower Hutt), Kapiti Coast, Dunedin and Queenstown. But conditions remain a bit stronger still in areas such as Tauranga, Christchurch, Rotorua, New Plymouth. “Interestingly, although it’s early days yet, this is broadly in line with what we outlined in our vulnerability research last year, which emphasised the risks that can be evident in certain areas if affordability is too

stretched, mortgage repayment problems are emerging, or investors start to sell, for example.”


The latest Mapping the Market report covers 960 suburbs across the country. 


Figures show of approximately 200 Auckland suburbs about 60 recorded a drop in median value of -2.0% or more in thet hree months to the end of February.


 Prestigious areas of Auckland such as Remuera and Epsom have seen falls of -2.4% and -2.6%, equivalent in dollar terms to $68,100 and $66,200 respectively, and Queenstown’s Lake Hayes has also softened -1.9%, or $45,500.


Mr Davidson said a similar weakening had occurred in more expensive suburbs of Hamilton and Wellington too, albeit in those markets price falls are more spread across both upper and lower tiers of property.


“It’s important to note the news isn’t all downbeat, there are still nine suburbs where prices have increased at least 10% in the past three months and another 90 suburbs have increased between 5% and 10% for the same period,” he said.


“In fact, of the 960 suburbs covered, more than half (581) have still recorded price gains of at least 1% since November.”


Fordlands (Rotorua District) recorded the highest percentage growth in the quarter, up 15.4% to a median value of $457,850 followed closely by Leigh in Auckland, which increased 15.0% for the period to $1,473,850.


Mr Davidson said the quarterly results were best summed up as ‘mixed’ and provided a valuable indicator of the housing market’s current "plateauing" trend.


“The figures aren’t surprising and are exactly what you would expect to see as sentiment begins to turn,” he said.


“Our view is that a soft landing is still more likely than a major downturn, but the market will need to adjust to some economic uncertainty and higher mortgage rates. Buyers and sellers will naturally take some time to agree on where the new market normal lies, which will result in broadly flat housing prices at a national level – but falls in some areas offset by rises elsewhere.”


CoreLogic Mapping the Market Highlights

 Mapping the Market covers median values and three-month percentage and dollar value change of 960 New Zealand suburbs;

 154 suburbs have recorded falls of -1% or more in the three months to February;

 94 of the suburbs with >1% price falls are in Auckland, 19 in Dunedin, 14 in Lower Hutt, six in Hamilton, five in Kapiti and four in Porirua;

 The largest quarterly fall was recorded in Muriwai (Auckland) down -10.3% to a median value of $1,337,650;

 581 suburbs recorded a quarterly median value increase of at least 1%;

 The highest dollar gain in the quarter was Omaha (Auckland) up $253,000 (+9.4%);

 The highest percentage gain for the period was Fordlands (Rotorua District) of 15.4% ($61,000);

 Herne Bay retained its spot as New Zealand’s most expensive suburb with a median property value of $3,726,900 (up $109,850 or 3.0% in the three months to February); and

 Cobden (Grey District) is the country’s most affordable suburb with a median value of $231,900, up 1.4% or $3,100 in the quarter.


Explore the full CoreLogic NZ interactive market map here.

ENDS


Source: CoreLogic Media


Record high dwelling consents add further str…

댓글 0 | 조회 316 | 2022.04.20
A surge in new building consents is piling extra pressure on New Zealand’s construction industry, which is already under considerable strain due to su… 더보기

8,270 community cases, 5 deaths today

댓글 0 | 조회 704 | 2022.04.19
Today we are reporting 8,270 community cases and five deaths. There are 572 people in hospital and 19 people in ICU.The seven-day rolling average of c… 더보기

6,242 community cases, 11 deaths, 553 hospita…

댓글 0 | 조회 524 | 2022.04.18
Today we are reporting 6,242 community cases, 553 hospitalisations and 11 deaths.The seven-day rolling average of case numbers continues to decline,wi… 더보기

5933 community cases, 10 deaths, 537 hospital…

댓글 0 | 조회 484 | 2022.04.17
Today we are reporting 5,933 community cases, 537 hospitalisations and 10 deaths. The seven-day rolling average of case numbers continues to decline, … 더보기

13,636 community cases, 30 deaths in past two…

댓글 0 | 조회 534 | 2022.04.16
Today we are reporting 13,636 community cases (7,763 on Friday and 5,748 today), and 30 deaths (20 on Friday and 10 today) over the past two days sinc… 더보기

9,563 community cases; 528 hospitalisations; …

댓글 0 | 조회 503 | 2022.04.14
Today we are reporting 9,563 community cases, 528 hospitalisations and 16 deaths.The seven-day rolling average of case numbers continues to decline,wi… 더보기

Ministry of Health launches $9 million COVID-…

댓글 0 | 조회 401 | 2022.04.14
Following Health Minister Andrew Little’s announcement yesterday, the Ministry of Health is gearing up to consider applicationsfor the newly available… 더보기

Reserve Bank goes big and mortgage rates have…

댓글 0 | 조회 811 | 2022.04.13
There was never any doubt that the official cash rate (OCR) would be increased today. The only uncertainty was how big the rise would be, and in the e… 더보기

9,495 community cases; 551 hospitalisations; …

댓글 0 | 조회 583 | 2022.04.13
Today we are reporting 9,495 community cases, 551 hospitalisations and 15 deaths.The seven-day rolling average of case numbers continues to decline,wi… 더보기

11,063 community cases; 622 hospitalisations;…

댓글 0 | 조회 526 | 2022.04.12
Today we are reporting 11,063 community cases, 622 hospitalisations and 16 deaths.The seven-day rolling average of case numbers continues to decline,w… 더보기

Third death considered linked to COVID-19 vac…

댓글 0 | 조회 319 | 2022.04.12
The COVID-19 Vaccine Independent Safety Monitoring Board (the Board) has notified the Ministry of Health of a third death in New Zealand considered to… 더보기

7,592 community cases; 640 hospitalisations; …

댓글 0 | 조회 581 | 2022.04.11
Today we are reporting 7,592 community cases, 640 hospitalisations and 11 deaths.The seven-day rolling average of case numbers continues to decline,wi… 더보기

6,718 community cases; 604 hospitalisations; …

댓글 0 | 조회 505 | 2022.04.10
Today we are reporting 6,718 community cases, 604 hospitalisations and 12 deaths.The seven-day rolling average of case numbers continues to decline,wi… 더보기

8,531 community cases; 635 hospitalisations; …

댓글 0 | 조회 558 | 2022.04.09
Today we are reporting 8,531 community cases, 635 hospitalisations and 11 deaths.Case numbers are continuing to decline, along with the seven-day roll… 더보기

9,906 community cases; 626 hospitalisations; …

댓글 0 | 조회 493 | 2022.04.08
Today we are reporting 9,906 community cases, 626 hospitalisations and 10 deaths.Case numbers are continuing to decline, along with the seven-day roll… 더보기

Māori and Pacific Peoples COVID-19 data

댓글 0 | 조회 394 | 2022.04.08
The Ministry of Health now publishes weekly summary reports of COVID-19 data for Māori and Pacific Peoples.The reports include summaries of cases iden… 더보기

11,634 community cases; 639 hospitalisations;…

댓글 0 | 조회 615 | 2022.04.07
Today we are reporting 11,634 community cases, 639 hospitalisations and 13 deaths.It's encouraging to see case numbers continuing to decline. This sup… 더보기

12,575 community cases; 654 hospitalisations;…

댓글 0 | 조회 596 | 2022.04.06
Today we are reporting 12,575 community cases, 654 hospitalisations and 15 deaths.It's encouraging to see case numbers continuing to decline. This sup… 더보기

14,120 community cases; 692 hospitalisations;…

댓글 0 | 조회 596 | 2022.04.05
Today we are reporting 14,120 community cases, 692 hospitalisations and 23 deaths.Although we have seen a slight increase in case numbers from yesterd… 더보기

10,205 community cases; 734 hospitalisations;…

댓글 0 | 조회 673 | 2022.04.04
Today we are reporting 10,205 community cases, 734 hospitalisations and 9 deaths. The seven-day rolling average of case numbers continues to decline, … 더보기

8,810 community cases; 690 hospitalisations; …

댓글 0 | 조회 595 | 2022.04.03
Today we are reporting 8,810 community cases, 690 hospitalisations and 18 deaths.The seven-day rolling average of case numbers continues to decline,To… 더보기

11,560 community cases; 678 hospitalisations;…

댓글 0 | 조회 461 | 2022.04.02
Today we are reporting 11,560 community cases, 678 hospitalisations and 23 deaths.The seven-day rolling average of case numbers continues to decline,T… 더보기

Daylight saving ends with new sound of tsunam…

댓글 0 | 조회 574 | 2022.04.02
If you’re still napping around midday Sunday 3 April, enjoying an extra hour or two of sleep daylight saving brings, be prepared for a harsh wakeup ca… 더보기

13,475 community cases; 764 hospitalisations;…

댓글 0 | 조회 840 | 2022.04.01
Today we are reporting 13,475 community cases, 764 hospitalisations and 17 deaths. The seven-day rolling average of case numbers continues to decline,… 더보기

15,250 community cases; 830 hospitalisations;…

댓글 0 | 조회 530 | 2022.03.31
Today we are reporting 15,250 community cases, 830 hospitalisations and 22 deaths.It's encouraging to see case numbers continuing to decline. This sup… 더보기

Have Your Say on proposed Auckland-wide golf …

댓글 0 | 조회 793 | 2022.03.30
Public consultation is now open on a proposed Auckland Golf Investment Plan, which aims to ensure that all Aucklanders can benefit from publicly owned… 더보기

15,918 community cases; 817 hospitalisations;…

댓글 0 | 조회 683 | 2022.03.30
Today we are reporting 15,918 community cases, 817 hospitalisations and 14 deaths.It's encouraging to see case numbers continuing to decline. This sup… 더보기

17,148 community cases; 842 hospitalisations;…

댓글 0 | 조회 830 | 2022.03.29
Today we are reporting 17,148 community cases, 842 hospitalisations and 34 deaths.We have seen an increase today in case numbers across most regions o… 더보기

12,882 community cases; 861 hospitalisations;…

댓글 0 | 조회 586 | 2022.03.28
Today we are reporting 12,882 community cases, 861 hospitalisations and 11 deaths.The Ministry of Health continues to encourage people to be up to dat… 더보기

10,239 community cases; 848 hospitalisations;…

댓글 0 | 조회 768 | 2022.03.27
Today we are reporting 10,239 community cases, 848 hospitalisations and 4 deaths.It’s encouraging to see the total number of cases in hospital, while … 더보기

Unspent Auckland fuel tax now more than $300m

댓글 0 | 조회 666 | 2022.03.26
Over $300 million collected by the regional fuel tax is now sitting idle in the Government's bank account while Aucklanders remain stuck in traffic, N… 더보기

14,175 community cases; 841 hospitalisations;…

댓글 0 | 조회 608 | 2022.03.26
Today we are reporting 14,175 community cases, 841 hospitalisations and 20 deaths.It’s encouraging to see the total number of cases in hospital droppi… 더보기

15,871 community cases; 899 hospitalisations;…

댓글 0 | 조회 593 | 2022.03.25
Today we are reporting 15,871 community cases, 899 hospitalisations and 13 deaths.Every hospitalisation is a reminder of the importance of getting vac… 더보기

18,423 community cases; 913 hospitalisations;…

댓글 0 | 조회 501 | 2022.03.24
Today we are reporting 18,423 community cases, 913 hospitalisations and 11 deaths.Every hospitalisation is a reminder of the importance of getting vac… 더보기
Now

현재 Patchy price falls starting to appear across …

댓글 0 | 조회 875 | 2022.03.24
New Zealand’s housing market has reached a clear turning point, as stretched affordability, highermortgage rates and reduced credit availability cause… 더보기

20,087 community cases; 960 hospitalisations;…

댓글 0 | 조회 675 | 2022.03.23
Today we are reporting 20,087 community cases, 960 hospitalisations and 11 deaths.Getting boosted continues to be one of the most important ways peopl… 더보기

20,907 community cases; 1016 hospitalisations…

댓글 0 | 조회 533 | 2022.03.22
Today we are reporting 20,907 community cases, 1,016 hospitalisations and 15 deaths. We have seen an increase today in case numbers across most region… 더보기

14,463 community cases; 1000 hospitalisations…

댓글 0 | 조회 1,108 | 2022.03.21
Today we are reporting 14,463 community cases, 1,000 hospitalisations and 9 deaths. Every COVID-19 hospitalisation is a reminder of the importance of … 더보기

12,020 community cases; 957 hospitalisations;…

댓글 0 | 조회 968 | 2022.03.20
We are continuing to see a steady decline in case numbers in Auckland, while cases in other parts of the country fluctuate. Case numbers generally dec… 더보기

18,514 community cases; 939 hospitalisations;…

댓글 0 | 조회 966 | 2022.03.19
We are reporting 18,514 community cases of COVID-19 today. The daily reported cases are expected to continue to fluctuate. This means that the seven-d… 더보기

Time to get New Zealand back to normal

댓글 0 | 조회 2,019 | 2022.03.18
With Auckland past the peak of Omicron and the rest of New Zealand approaching that point, Opposition Leader Christopher Luxon and Covid-19 Response s… 더보기

14,128 community cases; 943 hospitalisations;…

댓글 0 | 조회 932 | 2022.03.18
Today there are 14,128 cases to report and 943 people in hospital with COVID-19. We are continuing to see increases in hospitalisations and demand in … 더보기

19,566 community cases; 930 hospitalisations;…

댓글 0 | 조회 943 | 2022.03.17
Registering your RAT result The Ministry would like to thank the many people who are getting tested and reporting results As we are seeing the vast ma… 더보기

19,542 community cases; 971 hospitalisations;…

댓글 0 | 조회 1,132 | 2022.03.16
Today we are announcing eight people who died with COVID-19 yesterday and an additional 16 people who died in the past three weeks. Among the 24 death… 더보기

21,616 community cases; 960 in hospital; 22 i…

댓글 0 | 조회 866 | 2022.03.15
Today we are reporting 21,616 new community cases, 960 people in hospital with the virus, and two COVID-19 related deaths. Today’s case number is high… 더보기

15,540 community cases; 952 in hospital; 19 i…

댓글 0 | 조회 1,119 | 2022.03.14
Today we are reporting 15,540 new community cases, 952 people in hospital with the virus, and two COVID-19 related deaths. We know the Omicron variant… 더보기

14,494 community cases; 896 in hospital; 18 i…

댓글 0 | 조회 872 | 2022.03.13
Today we are reporting 14,494 new community cases, 896 people in hospital with the virus, and eight COVID-19 related deaths. We know the Omicron varia… 더보기

18,699 community cases; 853 in hospital; 17 i…

댓글 0 | 조회 726 | 2022.03.12
Today we are reporting 18,699 new community cases, 853 people in hospital with the virus, and seven additional COVID-19 related deaths.This is another… 더보기

20,989 community cases; 856 in hospital; 20 i…

댓글 0 | 조회 563 | 2022.03.11
Today we are reporting 20,989 new community cases, 856 people in hospital with the virus, and seven additional COVID-19 related deaths.This is highest… 더보기

90% of Wairarapa Māori fully vaccinated; 21,0…

댓글 0 | 조회 574 | 2022.03.10
Due to data issues today, the hospitalisation counts for some regions were incorrectly reported in our online statement. This affected the overall num… 더보기