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Real Estate in New Zealand

  • House prices in New Zealand's largest city have skyrocketed in recent years,

    NEW ZEALAND, 2015/05/13 New Zealand's central bank on Wednesday announced measures to cool Auckland's red-hot property market, saying a potential real-estate bubble posed a significant risk to the economy. Home prices in the South Pacific country's major city have skyrocketed in recent years, resulting in Auckland being named as the world's ninth least affordable major city in an international survey released this year. Reserve Bank of New Zealand Governor Graeme Wheeler said the median home price in Auckland was up 60 % since 2008, inclunding a rise of almost 17 % in the completed year alone.

  • New Zealand House Prices Rise In September

    NEW ZEALAND, 2014/10/13 New Zealand's home prices index increased in September, data from the Real Estate Institute of New Zealand, or REINZ, showed Monday. The REINZ housing price index advanced 0.2 % month-over-month to 3,933.5 in September. Prices in Auckland rose 0.8 %. Meanwhile, prices in Christchurch and Wellington fell 1.8 % and 2.8 %, respectively.

  • Building permits issued in New Zealand in July

    NEW ZEALAND, 2013/08/30

  • House sales figures look near normal

    NEW ZEALAND, 2012/12/28 A sudden drop in mortgagee sales in Otago and good November home sales statistics show there is some confidence in the market, real estate spokesmen say. Figures from Terralink International show there was a 28% decrease in mortgagee sales in Otago at the same time as comparing third-quarter data with the previous quarter. In the prime quarter there were 38 sales in Otago, in the second 36, and in the third 26. The major decrease was in Queenstown where sales dropped from 21 in the previous quarter to 10 in the third quarter, which ended in September.

  • New Zealand building activity to continue growing steadily 2012-06-21

    NEW ZEALAND, 2012/06/21 Housing market activity has been steadily improving over the past 12 months, with building consents and sales gradually increasing. Indeed, building consents – which are to be released by Statistics New Zealand on Friday 30th – rose 19.6% to 1326 in the year to January, following a similar 18.4% annual rise in December. However, this broadly positive picture is blurred somewhat when the data is put into perspective. The January figure (which represents a five month high in permits) remains 31% below the average number of building consents since 2000 (1922), and is 50% below the June 2007 peak. However, this is better than the peak-to-trough fall, which saw a 63.6% drop in the number of consents. Perhaps significantly, the January reading is 37% higher than the January 2009 nadir.
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