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As a tax change in Britain and New Zealand collides with higher mortgage rates, landlords in those two countries are scaling back, or even liquidating, their real estate investments.
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Allowing citizens to dip into their retirement to help them afford their first home is common practice overseas, but experts say it's hard to know the extent to which they've jacked up house prices.
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...