Americans are staying in their homes longer and aging in place, according to new data from the property portal and brokerage, Redfin. The finding indicates the current shortage of homes for sale across America isn’t just a result of higher interest rates but also due to owners holding onto their homes almost twice as long…
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New international research has highlighted New Zealand as one of the most expensive property markets in the world on a price-to-income ratio. Analyst company Statistica singled out Auckland as exceptionally “competitive” despite the city’s slow price decline last year. Nevertheless, it found average house sales prices of $1.2 million in North Shore City. It noted…
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New Zealand has won a global reputation for being the country where everyone wants to escape the world’s troubles. The fresh air, space and beautiful countryside make it one of the most desirable nations to live peacefully. There continues to be a steady trend in sales of lifestyle properties, despite the challenging economic conditions and…
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A new survey of New Zealand’s property market shows buyers are returning after a prolonged absence because of interest rate rises. However, they’re not making any quick decisions. More than half of agents (57%) have noted an increase in prospective buyers at open homes, according to the latest New Zealand Home Loans (NZHL) Property Report. …
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Investors will be heartened by the Reserve Bank of Australia’s recent decision to end its rate rise program and maintain the 4.65% cash rate. It gives investors and landlords breathing space to consider the continuing strength of the property market and whether the expansion of their portfolios will reap greater rewards. A recent report by…
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The four-year trend of house values outstripping those of units has continued according to the latest study from industry researcher CoreLogic. The gap between house and unit median prices is now 45.2%, the equivalent of $239,950. When the pandemic arrived in March 2020, the difference was 16.7%. City house values have increased 33.9% ($239,000) since…
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Predictions that coastal properties had their moment in the sun during the Covid-related property boom, and would experience price drops, appear to hold absolutely no water. New research has found that a third of Australia’s entire coastal property market has held on price, despite the 18-month period of interest rate rises designed to bring down…
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Australian property continues to record value growth as the year gets into full swing, offering an opportunity for sellers to capitalise on the upbeat mood. The decision by the Reserve Bank of Australia to leave the cash rate at 4.35% is a significant sign, creating the possibility that buyer concerns about mortgage costs will now…
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Backyard granny flats are facing a new future as state governments pull back on regulations around secondary dwellings to ease Australia’s housing shortage. With a naming history that stems from the fact they were originally built for and could only be legally used by the homeowner’s family members, granny flats have been given new government…
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Australians are no strangers to natural disasters with a KPMG analysis in September 2023 revealing 18 million were impacted by at least one natural disaster the previous year. An El Niño event on the east coast this summer, plus a positive Indian Ocean Dipole event (IOD) on the west coast, resulted in a double whammy…
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