A flattening of house price values in Auckland helped residential property values remain relatively stable at a national level across April, according to the latest QV report for April.
For the new Property Investors Federation president Andrew King, taking on the top job in an election year has given an extra focus to the Federation's role lobbying on behalf of property investors.
Auckland property investors would "always have a letting market" for the city council's proposed smaller inner city dwellings, according to Bayleys managing director Mike Bayley.
The lack of new houses being built and construction industry capacity issues as the Christchurch rebuild begins will lead to an inevitable rise in house prices, according to BNZ economist Tony Alexander.
With the Reserve Bank keeping interest rates low more home buyers will move to floating rate mortgages, according to Westpac New Zealand chief executive George Frazis.
The average weekly rent in Auckland fell by $13 during April compared to March, while the average weekly rent stood at $421, according to Barfoot & Thompson.
Consents for new homes have fallen to the lowest level since records began - 1982.
The average house sales price for Auckland stood at $544,975 in April, $3,500 above April last year and the highest April figure achieved by Barfoot & Thompson, the estate agent revealed today.
Confusing comments from market 'soothsayers' may be spooking possible buyers, but a more relaxed attitude from banks to mortgage lending offers some silver lining, claimed First National Group.
The property market is beginning to show signs of renewed activity with the average asking price for a home at its highest level in four years, according to the Realestate.co.nz NZ Property Report.
Rents for two and three-bedroom properties in Auckland have seen sharp rises over March, and in one area the average four-bedroom rent rose 50%, according to Crockers Market Research.
Renovating is the new black
Add rooms and you'll add value to your property, says Property Investor's May issue, out now.
It was the end of a very special era last month, when NZPIF President Martin Evans decided not to stand for re-election after four years in the job.
Floating rate borrowers are enjoying the lowest average rates since July 1965, but those waiting for signs fixed rates will rise before switching may be taking a risk, according to BNZ.
A round-up of leading economists take on the RBNZ decision to leave the OCR on hold.
The Reserve Bank has left its official cash rate unchanged at 2.50% today and has indicated that it is likely to stay at this level for "some time".
Favourable tax treatment for rental property investments helped prolong the housing boom and further inflate property values, benefitting high-income investors and squeezing out low earners from the market.
House prices are set to rise by 4% this year, boosted by the RBNZ decision in March to cut the OCR, according to Westpac.
More investors are in the market looking for properties, though their numbers lag behind first time buyers who are finding a warmer welcome at the banks, according to the inaugural BNZ-REINZ real estate survey.
Guidelines around new laws governing the buying and selling of unit title developments have been issued by the Department of Building and Housing (DBH).
Residents quitting earthquake stricken Christchurch are soaking up excess rental capacity in both North and South Island towns, according to First National Group.
The recent recovery in the housing market highlighted by the REINZ March data is "not a flash in the pan that will fade," and may mark the start of housing market recovery, according to BNZ economist Tony Alexander.
Trade Me property figures have revealed that while Auckland landlords are spoilt for tenant choice, the picture is less rosy across the rest of the country.
The REINZ report signalled that house values picked up in March, but according to JPMorgan's Helen Kevans, "we suspect there is limited upside to house prices in the very near term."
The REINZ March 2011 regional commentaries
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