While there has been a modest improvement in the affordability of housing in most regions, the latest Massey University Home Affordability Report shows Auckland is now 59 per cent less affordable than the rest of the country.
The growth in residential building hit an all-time record of a billion dollars of work consented in a month for the first time ever, Building and Housing Minister Dr Nick Smith noted today in response to Statistics New Zealand building consent data.
The number of new dwellings consented reached a 10-year high in November 2015, Statistics New Zealand said today.
Owner and chairman of Century 21 Australasia, Charles Tarbey, believes the Trans-Tasman property market is returning to what could be defined as 'true real estate’.
In December the sales price of Auckland housing remained stable but there was a significant fall in the number of sales compared to those in November and December 2014.
Central Otago joins Auckland as one of only two regions in the country where average asking prices of homes for sale now exceed $800,000, according to data from Realestate.co.nz, New Zealand’s largest website dedicated only to property.
There was good and bad news for first home buyers in November with housing affordability worsening in some regions and improving in others, according to Interest.co.nz's Home Loan Affordability Report.
Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 42 more farm sales (+11.2%) for the three months ended November 2015 than for the three months ended November 2014.
Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 568 more lifestyle property sales (+34.8%) for the three months ended November 2015 than for the three months ended November 2014.
"With the average weekly rent across the Auckland region now in excess of $500 and some interest rates falling below 4.5%, many renters will contemplate becoming buyers and for some it will make much more sense," says Geoff Barnett, National Manager of Century 21 New Zealand.
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