This week, Independent Economist, Tony Alexander, discusses the (now revised) data from realestate.co.nz showing a downward trend in stocks of property listings around the country. Click here to access the full report.
Property sales are 40% down from a year ago, and days on market (DOM) is up 13 days. Property prices have fallen 9.5% from their peak in November 2021 and the number of listings is up by 104%. This profound weakness in the residential property sector has not come about because of a wave of … Read more
Independent economist, Tony Alexander, provides an update on the housing cycle and discusses where it is likely heading. New Zealand’s housing market is weak and getting weaker. The number of sales in June was down 38% from a year earlier. The average number of days taken to sell a dwelling was 13 longer than a … Read more
Independent economist, Tony Alexander, provides a market update – discussing the implications for landlords and their ability to find good tenants. As an economist, I don’t have all that much interest in the structure of the housing market. What I am interested in is how things are changing. These changes are what we need to … Read more
Independent Economist, Tony Alexander, presents a market update on New Zealand’s economy and the housing market. This is about as bad as it gets. Nothing seems to be going right for the economy, households and businesses. The pressures keep growing. Another hit for the market, the Reserve Bank is set to raise interest rates another … Read more
The average house price has fallen 7.7% nationwide, with Auckland peaking in November and the rest of NZ mainly in February. We’re probably about halfway through the pullback from absurdly high prices reached last year when a FOMO-gripped public bought anything they could get their hands on. As house prices fall further we’ll see some … Read more
Independent economist, Tony Alexander, discusses the 20 reasons why you should continue to pursue listings. In the latest edition of Tony View, Alexander suggests that keeping an eye on the rapidly rising housing stock and making improvements to purchase prices would be a good idea. Rising construction costs It is getting more and more expensive … Read more
A common cause of dispute – who is responsible for maintaining the lawns and garden of a rental property? Tenant responsibility for garden maintenance Tenants’ are responsible for keeping the rental property reasonably clean and tidy. This includes mowing the lawns and weeding the gardens where applicable. In some circumstances, your landlord may be happy … Read more
This week, Independent Economist, Tony Alexander, discusses the everchanging Auckland housing market. The fundamentals for house prices and house construction in Auckland have shifted to the downside. Such is the nature of cycles. It is not just that interest rates are rising – Auckland’s population is shrinking. People are moving to the regions, the brain … Read more
Responding to recent rental sector feedback, the New Zealand Government has agreed to make amendments to the current Healthy Homes Standards. The changes will impact the heating, ventilation and moisture ingress and drainage requirements for rental properties. Heating Moving forward, the heating requirements will take into account the heightened thermal performance of new homes built … Read more
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