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Controversial credit protection legislation is having an adverse effect on first-home buyers, but cash buyers could play a more prominent role this year.
Controversial credit protection legislation is having an adverse effect on firsttime home buyers
By Kelvin Davidson, Chief Property Economist, CoreLogic New Zealand Wellington’s property market has been on a prolonged upswing since 2015 and if anything that boom has intensified over the past nine to 12 months (post-COVID). What’s been going on lately and does it tell us anything about future prospects? Starting with average values themselves, in June 2015 the figure for wider Wellington (defined here as city, Porirua, Lower Hutt, Upper Hutt) was $459,751. Now, only six years later, the number has jumped to $1,024,649 – a rise of 123%, or $564,898. As the chart shows, each of tho...
MARK TAYLOR / STUFF The Waikato Regional Theatre is tipped to dramatically change the central city with a host of other multimillion-dollar projects on the cards. There’s not a single housing market round the country which hasn’t been running hot of late but, of the big North Island cities, Hamilton stands out for its comparative affordability. Make no mistake, the market is seeing strong price growth, frantic buyer activity and increasingly low levels of housing stock. But while a three-bedroom, two-bathroom unit in Hillcrest in Auckland recently sold for $1 million, according to Tra...