The property market is in a different phase to what many of us are used to with prices decreasing across much of the country. Decreasing property values are eroding homeowners’ capital gains (although the capital gains for many are in excess of 100%) and this is evident in Wellington where the median HomesEstimate is down
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Last month, the team at homes.co.nz tried to put recent property price decreases into perspective by comparing any price drops to the average capital gains generated across the country. Although most kiwi homeowners have owned their home for an extended period of time and are able to withstand price fluctuations, we do acknowledge that there
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2022 has seen a change in the New Zealand property market. Prices are softening across most of the country, sales volumes are decreasing and those properties that are on the market are taking longer to sell. There are a number of underlying reasons for the changes (increasing interest rates being one) and this change has
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Sustainability is an increasing concern for many Kiwi’s and is starting to be more front of mind for those in the property market. For current (and prospective) homeowners, being more sustainable means reducing their carbon footprint throughout the building lifecycle including building and construction; living in the home day-to-day; and during renovation and deconstruction. Many
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Capital Values, Rateable Values, CVs, RVs are all terms for the three-yearly (usually) assessment of a property’s value and are used by local councils to help apportion the rates in their area. These are especially relevant right now, with new CVs being released by Auckland Council last month, the first time since 2017. There are
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You may have noticed your HomesEstimate starting to decrease. The reason for this is the headwinds facing the property market are starting to be seen in homes.co.nz’s sales data and are now starting to impact homes.co.nz’s estimated values across the country. The headwinds include: Increasing interest rates resulting in higher mortgage servicing costs Tightened lending
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After a well-earned summer break, most Kiwi’s are getting back into the swing of the year, and the property market is no different. The volume of properties for sale is picking up as we move into one of the year’s peak selling periods and we thought it was time for a refresher on the different
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