With sentiment across New Zealand's residential building sector at a new low right now, what are the implications for our construction sector, and the wider economy?
It is somewhat ironic that at the same time as we are seeing first home buyers return to the market and investors pricking up their ears, prospects for interest rates have worsened.
While there may be a shift underway in the minds of first home buyers, will the turning of the cycle be as swift going back as it was going back down?
While housing markets move in cycles, there is something very different about this downward leg of the housing cycle. But with the endgame upon us, will house prices stop falling?
Changes made to the official cash rate strongly affect floating mortgage rates, but when it comes to fixed rates it is expectations for what will happen with monetary policy that truly matter.
The experts have been predicting a “soft landing” for the New Zealand economy - but are we in fact well past the point of no return on the road to recession?
I’ve just released the results of my latest survey and the numbers are not much changed from where they were at the end of June. Buyers remain in the shadows and prices are falling all around the country.
On average over the past decade there have been around 81,000 dwellings sold each year all around New Zealand, but the way things are tracking we look set to see a fall to around 65,000 within the coming year. How will we know when things are going to turn around?
Independent Economist Tony Alexander gives us a breakdown of what is happening in financial markets and the housing market.
When will house prices stop falling? No-one knows. But it looks like we are quite a long way off the bottom being reached for a number of reasons.
Here is a quick high level run-through of the main things happening in the residential real estate market on average in New Zealand.
Recently, I wrote a lengthy article listing the main things I am saying about the NZ residential property market at the moment – some of which I have been warning about for 12-18 months. Here are most of those points in summarised form.