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Realty Perspective – June 2023

Realty Perspective – June 2023

After 7 years of incredible property price increases, we all knew that a change in the market was inevitable, yet it probably hit harder than some of us expected. The combination of inflation, rising interest rates and tax changes has changed the real estate landscape.  We will delve into this information further, look at the […]

Changes in Lending Driving the Change

Changes in Lending Driving the Change

Changes in lending driving the change In the last 6 years we have seen huge price increases on the back of low interest rates, shortage of property and an increase in demand with a growing population. Historically property prices have doubled in a cycle, which has been one of the favourite quotes for as long […]

Free Market vs Government Intervention

Free Market vs Government Intervention

The last 12 months of real estate trends have been like a rollercoaster ride. First the experts predicted a huge downturn (April-May 2020) and the government loosened finance restrictions (such as Loan-to-value ratios for investors) to ensure properties continued selling through the predicted downturn as a way to stimulate the economy. Next we find out […]

Predictions in an Unpredictable World

Predictions in an Unpredictable World

Most of the predictions made regarding the economy, house prices and the impact of the pandemic have turned out to be wrong. This comes as no surprise as there are too many variables that influence the outcome. The property market today is very similar to what we have seen in the last four years, even […]

Life After Lockdown

Life After Lockdown

Will there be a downturn in the property market? There are many views and predictions on what life will look like in NZ after the lockdown. And there are as many opinions about the real estate market. Most of these are written about the overall NZ property market, not specific to Rotorua. Here is my […]

2019 End Of Year Wrap Up

2019 End Of Year Wrap Up

Prices in 2019 have continued to increase and the median sale price is now very close to $500k. This in comparison to only $400k a year ago and $300k in 2016. Interest rates remain low which increases affordability, although most banks use quite a big margin in their calculations to make sure people don’t overcommit. […]

A seller’s market … but  for how much longer?

A seller’s market … but for how much longer?

Since my last market update, there have been numerous developments that create uncertainty about the market and for how long the upwards trend of property prices will continue. The key changes we’ve seen in recent months: •  the lowest Official Cash Rate since its introduction 20 years ago    and the lowest interest rates since […]

Are we in a changing market?

Are we in a changing market?

Supply and demand has changed market dynamics in Auckland and the question we get asked every day is what we expect to happen with prices in the Rotorua market. Will we follow Auckland and will prices drop, or will they continue to climb? There are a number of key economic factors that will affect the […]

Prices continue to increase

Prices continue to increase

Prices continue to increase There is a huge variance between average house price values in Rotorua from month to month due to the small number of sales each month, however, it is clear that prices continue to increase across all price brackets. In June this year we recorded the highest ever median sale price at […]