Home sales record first annual increase in two years

Home sales record first annual increase in two years

0 개 1,083 KoreaPost

Property transaction volumes have turned a corner, after consecutive interest rate hikes and tighter lending rules caused two years of softer sales and triggered New Zealand’s largest sales slump since 1983.

CoreLogic NZ’s Monthly Housing Chart Pack, released today, shows a 7.5% increase in residential sales numbers (via estate agents and private transactions) occurred in May compared to the same time last year. It’s the first annual increase in sales transactions since May 2021.

  

The figures also showed new listings over the four weeks ending 6 June remained -28% below this time last year and -20% below the previous five-year average.

CoreLogic NZ Chief Property Economist Kelvin Davidson said the figures provided further signals that the market may be approaching a trough.

“While it’s probably too early to emphatically call it a new trend, it is now looking more certain that sales volumes have finally bottomed out. The annual increase of 7.5% after such a long decline will be welcome news for many (although not all) property market participants,” Mr Davidson said.

“As the flow of new listings remains low against a backdrop of rising sales, we are starting to see a tightening of stock on the market, which in turn may start to contribute to competitive price pressures.

Available listings are about 5% lower than this time last year, with stock tightening in key regions such as Auckland, Bay of Plenty, and Wellington.”

Overall, Mr Davidson said 2023 is shaping up as a ‘year of two halves’.

“Factors such as a broad peak for mortgage rates and still-strong employment should underpin some kind of growth in sales/mortgage activity later in 2023, with prices finding a floor – which will be good or bad, depending on your perspective,” he said.

“The end of the downturn doesn’t suddenly mean the start of an upturn, however. After all, housing affordability is still stretched, and caps on debt to income ratios loom large in 2024.”

  

June Housing Chart Pack highlights:

 

·       Residential real estate is worth $1.57 trillion.

·       Nationally values fell by -10.2% in the year to May, slightly smaller than the year to March (10.5%) and year to April (10.3%).

·       The upper quartile continues to lead the downturn, with values down -14% from peak, compared to -10.9% and -8.8% falls across the mid and lower quartiles respectively.

·       The number of property sales in May was 7.5% higher than a year earlier, the first annual increase since May 2021.

·       There were 6,439 new listings over the four weeks ending June 6, down from 8,996 this period last year.

·       Total stock on market is 33,798, -4.5% below this time last year.

·       First home buyers’ market share of 25% remains strong, particularly in Auckland at 28%. Mortgaged multiple property owners (investors) have a comparatively low market share of  20%.

·       Nationally rental growth remains within the 3-4% range but is likely to accelerate as net migration increases and rental stock stays low

·       Gross rental yields nationally are back to 3% for the first time since March 2021, mainly due to the continued falls in property values.

·       Around 50% of NZ’s existing mortgages by value are currently fixed but due to reprice onto a new (generally higher) mortgage rate over the next 12 months.

·       Inflation seems to have passed its peak and the Reserve Bank will wait to see the effects of the 5.5% OCR for this tightening cycle. Mortgage rates are close to, or already at, their peak.

Download and subscribe to the NZ CoreLogic Housing Chart Pack at corelogic.co.nz/news-research/reports/housing-chart-pack.

 

ENDS


Source: CoreLogic NZ

2,100 community cases; 436 hospitalisations; …

댓글 0 | 조회 750 | 2022.08.21
Today we are reporting 2,100 community cases and 436 current hospitalisations.The seven-day rolling average of community case numbers today is 3,733 –… 더보기

3,302 community cases; 467 hospitalisations; …

댓글 0 | 조회 734 | 2022.08.20
Today we are reporting 3,302 community cases, 467 current hospitalisations.The seven-day rolling average of community case numbers today is 3,828 – la… 더보기

3,805 community cases; 466 hospitalisations; …

댓글 0 | 조회 860 | 2022.08.19
Today we are reporting 3,805 community cases, 466 current hospitalisations.The seven-day rolling average of community case numbers today is 3,876 – la… 더보기

4,540 community cases; 473 hospitalisations; …

댓글 0 | 조회 899 | 2022.08.18
Today we are reporting 4,540 community cases and 473 current hospitalisations.The seven-day rolling average of community case numbers today is 3,928– … 더보기

4,489 community cases; 496 hospitalisations; …

댓글 0 | 조회 795 | 2022.08.17
Today we are reporting 4,489 community cases and 496 current hospitalisations.The seven-day rolling average of community case numbers today is 3,975 –… 더보기

7,297 flu vaccines administered in the last w…

댓글 0 | 조회 789 | 2022.08.17
Influenza vaccines administered in New ZealandThe numbers as at 13 August 20227,297 flu vaccines administered across New Zealand in the past week, bri… 더보기

Latest OCR rise may not hit mortgage rates

댓글 0 | 조회 1,024 | 2022.08.17
As expected the Reserve Bank (RBNZ) delivered another 0.5% increase in the official cash rate (OCR)today, taking it to 3% – the highest level since Se… 더보기

Search and rescue: important upgrades of NZ s…

댓글 0 | 조회 800 | 2022.08.16
Better response for distress beacons in 30m square km of SW PacificImportant upgrades at New Zealand’s search and rescue satellite Earth station begin… 더보기

4,811 community cases; 533 hospitalisations; …

댓글 0 | 조회 746 | 2022.08.16
Today we are reporting 4,811 community cases and 533 current hospitalisations.The seven-day rolling average of community case numbers today is 4,073 –… 더보기

Turning point for profitable resales as gains…

댓글 0 | 조회 793 | 2022.08.16
The resale performance of residential real estate has reached a turning point, CoreLogic NZ’s latest Pain & Gain report shows, with Q2 figures rev… 더보기

Who are the best Broadband, Power and Mobile …

댓글 0 | 조회 811 | 2022.08.16
Recognising excellence, leadership and innovation in the New Zealand utility sectors, the NZ Compare Awards are back for the 6th year and in response … 더보기

Auckland’s local elections candidates confirm…

댓글 0 | 조회 869 | 2022.08.15
462 Aucklanders have successfully lodged their nominations to stand in the local elections. Yes, the race has officially begun as nominations for Auck… 더보기

3,387 community cases; 536 hospitalisations; …

댓글 0 | 조회 746 | 2022.08.15
Today we are reporting 3,387 community cases and 536 current hospitalisations.The seven-day rolling average of community case numbers today is 4,230 –… 더보기

2,618 community cases; 557 hospitalisations, …

댓글 0 | 조회 906 | 2022.08.14
Today we are reporting 2,618 community cases, 557 current hospitalisations and 15 patients in ICU.The seven-day rolling average of community case numb… 더보기

3,650 community cases; 546 hospitalisations; …

댓글 0 | 조회 877 | 2022.08.13
Today we are reporting3,650community cases and546current hospitalisations.The seven-day rolling average of community case numbers today is4,418– last … 더보기

Food prices increase 7.4 percent annually

댓글 0 | 조회 836 | 2022.08.12
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today.In July 2022, the annual increase was due to rises acros… 더보기

4,126 community cases; 549 hospitalisations; …

댓글 0 | 조회 824 | 2022.08.12
Today we are reporting 4,126 community cases and 549 current hospitalisations.The seven-day rolling average of community case numbers today is 4,581. … 더보기

Fourth Monkeypox case

댓글 0 | 조회 917 | 2022.08.12
Manatū Hauora – Ministry of Health and Te Whatu Ora – Health New Zealand are today reporting a fourth case of Monkeypox in New Zealand.The person, who… 더보기

4,818 community cases; 571 hospitalisations; …

댓글 0 | 조회 827 | 2022.08.11
Today we are reporting 4,818 community cases and 571 current hospitalisations.The seven-day rolling average of community case numbers today is 4,750. … 더보기

5,169 community cases; 599 hospitalisations; …

댓글 0 | 조회 761 | 2022.08.11
Today we are reporting 5,169 community cases and 599 current hospitalisations.The seven-day rolling average of community case numbers today is 4,938. … 더보기

5,939 community cases; 634 hospitalisations; …

댓글 0 | 조회 790 | 2022.08.09
Today we are reporting 5,939 community cases and 634 current hospitalisations.The seven-day rolling average of community case numbers today is 5,120. … 더보기

4,006 community cases; 654 hospitalisations; …

댓글 0 | 조회 799 | 2022.08.08
Today we are reporting 4,006 community cases and 654 current hospitalisations.The seven-day rolling average of community case numbers today is 5,288. … 더보기

3,302 community cases; 606 hospitalisations; …

댓글 0 | 조회 1,076 | 2022.08.07
Todaywe are reporting 3,302 community cases and606current hospitalisations.The seven-day rolling average of community case numbers today is 5,441 – la… 더보기

4,790 community cases; 648 hospitalisations; …

댓글 0 | 조회 926 | 2022.08.06
Todaywe are reporting4,790community cases and648current hospitalisations.The seven-day rolling average of community case numbers today is 5,608 – last… 더보기

5296 community cases; 605 hospitalisations; 1…

댓글 0 | 조회 858 | 2022.08.05
Today we are reporting 5,296 community cases and 605 current hospitalisations.The seven-day rolling average of community case numbers today is 5,812 –… 더보기

6,152 community cases; 663 hospitalisations; …

댓글 0 | 조회 840 | 2022.08.04
Today we are reporting 6,152 community cases and 663 current hospitalisations.The seven-day rolling average of community case numbers today is 6,142 –… 더보기

Consents for homes still high, but down for s…

댓글 0 | 조회 1,027 | 2022.08.03
In the year ended June 2022, there were 50,736 new homes consented, up 14 percent from the year ended June 2021, Stats NZ said today.“The year ended J… 더보기

Annual wage inflation rises to 3.4 percent

댓글 0 | 조회 997 | 2022.08.03
Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, while average ordinary time hourly earnings rose… 더보기

6440 community cases; 704 hospitalisations; 1…

댓글 0 | 조회 954 | 2022.08.03
Today we are reporting 6,440 community cases and 704 current hospitalisations.The seven-day rolling average of community case numbers today is 6,355 –… 더보기

Property values fall at fastest pace since th…

댓글 0 | 조회 923 | 2022.08.03
CoreLogic's House Price Index (HPI), which is the most robust measure of property value change in the market, shows that the current market downturn b… 더보기

7,113 community cases; 738 hospitalisations; …

댓글 0 | 조회 839 | 2022.08.02
Today we are reporting 7,113 community cases and 738 current hospitalisations.The seven-day rolling average of community case numbers today is 6,683 –… 더보기

5,312 community cases; 759 hospitalisations; …

댓글 0 | 조회 791 | 2022.08.01
Today we are reporting 5,312 community cases, 759 current hospitalisations.The seven-day rolling average of community case numbers today is 6,990.Ther… 더보기

4,238 community cases; 806 hospitalisations; …

댓글 0 | 조회 838 | 2022.07.31
Today we are reporting 4,238 community cases, 806 current hospitalisations.The seven-day rolling average of community case numbers today is 7,183.As a… 더보기

6,232 community cases; 769 hospitalisations; …

댓글 0 | 조회 1,011 | 2022.07.30
Today we are reporting 6,232 community cases, 769 current hospitalisations.The seven-day rolling average of community case numbers today is 7,405As at… 더보기

Appointment of Markerita Poutasi as National …

댓글 0 | 조회 789 | 2022.07.29
Te Whatu Ora – Health New Zealand has today announced the appointment of Markerita (Meg) Poutasi as National Director, Pacific Health.Announcing this … 더보기

Auckland welcomes first Māori/Pasifika operat…

댓글 0 | 조회 876 | 2022.07.29
Residents who live in Onehunga and its neighbouring suburbs can now do their part to help reduce the amount of waste going to landfill with the openin… 더보기

7,605 community cases; 799 hospitalisations; …

댓글 0 | 조회 981 | 2022.07.29
Today we are reporting 7,605 community cases, 799 current hospitalisations.The seven-day rolling average of community case numbers today is 7,618.Ther… 더보기

7,627 community cases; 827 hospitalisations; …

댓글 0 | 조회 952 | 2022.07.28
Today we are reporting 7,627 community cases, and 827 current hospitalisations.The seven-day rolling average of community case numbers today is 7,776T… 더보기

21,182 flu vaccines administered in the last …

댓글 0 | 조회 704 | 2022.07.28
Influenza vaccines administered in New ZealandThe numbers as at 22 July 202221,182 flu vaccines administered across New Zealand in the past week, brin… 더보기

One million people aged 65+ by 2028

댓글 0 | 조회 816 | 2022.07.28
The number of people aged 65 years or older (65+) living in New Zealand is likely to hit 1 million by 2028, Stats NZ said today.Population projections… 더보기

Te Whatu Ora media release - Get a hepatitis …

댓글 0 | 조회 757 | 2022.07.28
Get a hepatitis C test on World Hepatitis Day to put your worries behind youNew Zealanders at risk of hepatitis C should make sure to get a quick and … 더보기

8,730 community cases; 808 hospitalisations; …

댓글 0 | 조회 1,043 | 2022.07.27
Today we are reporting 8,730 community cases, and 808 current hospitalisations.The seven-day rolling average of community case numbers today is 8,111.… 더보기

Multiple challenges to test NZ's declining ma…

댓글 0 | 조회 943 | 2022.07.27
The combination of sharply rising interest rates and the large wave of refinancing of existing mortgages that will occur over the next year is set to … 더보기

9,256 community cases; 822 hospitalisations; …

댓글 0 | 조회 1,060 | 2022.07.26
Today we are reporting 9,256 community cases, and 822 current hospitalisations.The seven-day rolling average of community case numbers today is 8,335.… 더보기

6,910 community cases; 836 hospitalisations; …

댓글 0 | 조회 993 | 2022.07.25
Today we are reporting 6,910 community cases, 836 current hospitalisations, and 16 deaths.The seven-day rolling average of community case numbers toda… 더보기

5,535 community cases; 720 hospitalisations; …

댓글 0 | 조회 1,006 | 2022.07.24
Today we are reporting 5,535 community cases, 720 current hospitalisations, and 14 deaths.The seven-day rolling average of community case numbers toda… 더보기

7,746 community cases; 759 hospitalisations; …

댓글 0 | 조회 1,028 | 2022.07.23
Today we are reporting 7,746 community cases, 759 current hospitalisations, and 22 deaths.The seven-day rolling average of community case numbers toda… 더보기

8,728 community cases; 759 hospitalisations; …

댓글 0 | 조회 958 | 2022.07.22
Today we are reporting 8,728 community cases, 759 current hospitalisations, and 26 deaths.The seven-day rolling average of community case numbers toda… 더보기

Greenhouse gases increasing but still below p…

댓글 0 | 조회 778 | 2022.07.22
Seasonally adjusted greenhouse gas (GHG) emissions increased 1.1 percent (205 kilotonnes) in the December 2021 quarter from the September 2021 quarter… 더보기

9,953 community cases; 767 hospitalisations; …

댓글 0 | 조회 962 | 2022.07.21
Today we are reporting 9,953 community cases, 767 current hospitalisations, and 32 deaths.The seven-day rolling average of community case numbers toda… 더보기