New Zealand may be on track for a ‘V-shaped’ recovery as the downturn looks likely to fall on the “moderate end of expectations,” according to Westpac economists. In its weekly commentary, Westpac says that some key economic indicators have performed better than...

According to the latest REINZ data, median house prices nationwide were up by 9.2% to $639,000 in June, as compared to $585,000 in June 2019. They were also up by 3.1% from $620,000 in May 2020. Likewise, Auckland’s median house prices increased by 9.2% year-on-year...

There’s a sense of desperation about many property deals post lockdown, as buyers flood open homes and auction rooms. Ray White South Island regional manager Jane Meyer says an auction late last week of five properties in Christchurch reinforced the belief that the...

Record low interest rates Investors are actively looking for returns better than what they can get on bank term deposits, of which they have too many having saved up extra money during lockdown. Money saved not travelling overseas These lump sums can go a long way...

Anecdotal evidence about a rise in confidence in the real estate market is backed by May figures on house sales presented by the Real Estate Institute of New Zealand (REINZ). The latest edition of the REINZ Residential Market Confidence Report shows although there are...

Prices of Auckland city apartments appear to be cooling rapidly with most the apartments that were sold at recent auctions monitored by interest.co.nz selling for well below their rating valuations. Although apartments are still attracting good interest from potential...

Mortgage rates could drop below 2 per cent within the next year, economists say, as the world reacts to the fallout from Covid-19. The official cash rate is on hold at 0.25 per cent until March but it is increasingly expected that it could fall into negative territory...

Low housing stock around the country is driving prices up, according to Realestate.co.nz. The total number of homes available for sale in July was down 11 per cent on the same month last year, the real estate listings website’s spokeswoman, Vanessa Taylor, said. The...

Too often people choose to focus on the negatives and forget that often the groups affected by new factors are small, and their actions are not replicated across the entire economy or population. Employment is one of these things. People are clearly losing jobs as a...