New Zealand’s residential real estate market is becoming softer by the day. CoreLogic NZ data shows home prices fell across the country in May. A combination of higher rates and anti-speculation measures are rapidly cooling demand. Prices are now falling at the fastest rate since 2010 and the central bank expects them to fall a […]
New Zealand real estate’s epic run is fast approaching its end, and a correction looms. That was the take in the Reserve Bank of New Zealand‘s (RBNZ) May 2022 Financial Stability Report. The central bank called housing unsustainable and said gradual price declines are desirable. However, they warn a significant correction is possible. New Zealand […]
Higher mortgage financing costs are derailing New Zealand’s hot real estate market. The CoreLogic New Zealand House Price Index shows home prices fell in April. It was the first decline for home prices at the national level since 2020. The firm notes two major markets even saw the biggest drop since the Global Financial Crisis […]
New Zealand’s government is targeting home investors to slow price growth and it may be working. Reserve Bank of New Zealand (RBNZ) data shows the share of home buyers that have at least one other home. Immediately after the Government announced they’ll target investors, many quit the market. It’s only been a few months since […]
New Zealand property investors will see another tax advantage disappear soon. On Tuesday, the Government of New Zealand revealed they’ll limit mortgage interest deductions. The plan goes into effect October 1 and is hoping to lower the incentive to speculate with housing. This measure follows a series of actions to discourage speculators. The government says […]
New Zealand’s central bank is considering tightening mortgage lending standards even further. In June the New Zealand Government gave the Reserve Bank the green light to tighten lending. This morning, they announced they’ll consider a series of new measures in October. The big changes they’ll consider are further limits to high loan-to-value ratio (LVR) borrowing, […]
New Zealand may be the first advanced economy to hike interest rates. The Reserve Bank of New Zealand (RBNZ) abruptly announced a halt to the Large Scale Asset Purchase (LSAP) program. Along with the announcement was the release of the Monetary Policy Committee notes. The Committee said the risk of deflation has now passed, and […]
One of the world’s largest real estate bubbles is getting a new round of affordability measures. Earlier this year, the New Zealand Government said they would put home prices at the top of their agenda. This week they followed up with the first actions they’ll be taking. Property investors will soon see most tax advantages […]
New Zealand’s central bank will consider the impact of monetary policy on housing. Not just to preserve home prices either, but to consider affordability. The New Zealand Government‘s latest remit goes live on March 1. After which, the Reserve Bank of New Zealand (RBNZ) needs to explain regularly how it seeks to assist with affordability. […]
