By Leith van Onselen The REINZ has released its house price data for November, which revealed a 1.3% seasonally adjusted increase in the national median house price, with prices up 7.1% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 0.1% in November, with prices up 7.9% year-on-year. Looking at the major cities, Auckland’s

By Leith van Onselen In the lead up to last year’s September General Election, the NZ Labour Party pledged that it would end negative gearing if it is elected. Now, the policy is nearing implementation, with The Treasury and Inland Revenue releasing a Regulatory Impact Statement (RIS) assessing the policy. The aim of the proposed law

By Leith van Onselen A week ago, Interest.co.nz published an alarming report showing how the Auckland region’s undersupply of homes has blown-out by nearly 400% in just four years – from 6944 in 2014 to 34,150 in 2018 – on the back of an insane 134,000 increase in population from net overseas migration: On Friday,

By Leith van Onselen A few months back, the Reserve Bank of New Zealand (RBNZ) released a study showing that its loan-to-value ratio (LVR) caps had fundamentally de-risked the housing market: The report found that prior to the introduction of LVRs in October 2013, the average new mortgage was for 67% of a property’s value.

By Leith van Onselen Statistics New Zealand released its permanent & long-term migration figures for October 2018, which revealed that immigration into New Zealand has continued to drift back from record high levels, with 61,751 annual net permanent and long-term arrivals landing in New Zealand in the year to October, down from a peak of

By Leith van Onselen Statistics New Zealand has released its labour force data for the September quarter, with the unemployment rate falling by 0.5% to 3.9%. This is the lowest unemployment rate since the June 2008 quarter when it was 3.8%. Below are the key points from the release: Unemployment rate fell to 3.9 percent.

By Leith van Onselen I noted previously how the New Zealand Labour Party’s promise to “build 100,000 affordable homes across the country” was already shaping up as an epic failure due to: the government changing the program from “building” to “facilitating” the delivery of 100,000 affordable dwellings, meaning that NZ taxpayers would merely ‘underwrite’ many dwellings that would have

By Leith van Onselen New Zealand’s housing market looks set to follow Australia’s into a correction. According to Realestate.co.nz, Auckland’s housing market is now favouring buyers for the first time since 2011, whereas Quotable Values says that average prices are now falling: It’s a buyer’s market in Auckland for the start of summer, with the

By Leith van Onselen New Zealand’s chronic housing shortage continues to worsen, especially in Auckland, with stronger dwelling consents still failing to keep pace with turbo-charged population growth. There were 12,945 dwelling consents issued across Auckland in the year to September (up 25%): Whereas there were 32,548 consents issued across New Zealand over the year

By Leith van Onselen Statistics New Zealand has continued to collect data on non-resident purchases of New Zealand homes, and the results are interesting: In the September 2018 quarter, 9.8 percent of home transfers in Auckland inner city (Waitemata local board area) were to people who didn’t hold NZ citizenship or a resident visa, down

By Leith van Onselen Statistics New Zealand released its permanent & long-term migration figures for September 2018, which revealed that immigration into New Zealand has continued to drift back from record high levels, with 62,733 annual net permanent and long-term arrivals landing in New Zealand in the year to August, down from a peak of

By Leith van Onselen The REINZ has released its house price data for September, which revealed a 0.4% seasonally adjusted increase in the national median house price, with prices up 5.4% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 1.1% in September, with prices up 8.5% year-on-year. Looking at the major cities, Auckland’s

By Leith van Onselen I noted previously how the New Zealand Labour Party’s promise to “build 100,000 affordable homes across the country” was already shaping up as an epic failure due to: the government changing the program from “building” to “facilitating” the delivery of 100,000 affordable dwellings, meaning that NZ taxpayers would merely ‘underwrite’ many dwellings that would have

By Leith van Onselen New Zealand’s chronic housing shortage continues to worsen, especially in Auckland, with record dwelling consents still failing to keep pace with turbo-charged population growth. There were 12,959 dwelling consents issued across Auckland in the year to July (up 26%):   Whereas there were 32,759 consents issued across New Zealand over the

By Leith van Onselen Statistics New Zealand released its permanent & long-term migration figures for August 2018, which revealed that immigration into New Zealand has continued to drift back from record high levels, with 63,288 annual net permanent and long-term arrivals landing in New Zealand in the year to August, down from a peak of

By Leith van Onselen Statistics New Zealand has released national accounts figures for the June quarter of 2018, with Gross domestic product (GDP) rising by 1.0% over the quarter to be up 2.7% year-on-year. GDP per capita rose by 0.5% in the June quarter and by a soggy 0.7% year-on-year – the equal lowest per

By Leith van Onselen The REINZ has released its house price data for August, which revealed a 0.4% seasonally adjusted decline in the national median house price, with prices up 3.9% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 0.3% in August, with prices up 6.2% year-on-year. Looking at the major cities, Auckland’s

By Leith van Onselen New Zealand’s chronic housing shortage continues to worsen, especially in Auckland, as dwelling consents fail miserably to keep pace with turbo-charged population growth. There were 12,845 dwelling consents issued across Auckland in the year to June (up 28%), and 32,850 consents issued across New Zealand over the year (up 8.0%): However,

By Leith van Onselen The RBNZ’s latest mortgage data shows that household and mortgage credit growth has begun to rise again after cooling recently in response to loan-to-value ratio restrictions targeting investors. After bottoming in February at 5.7%, annual New Zealand household credit growth rose to 5.8% in July: Most of New Zealand’s household debt

By Leith van Onselen Month after month MB has documented the worsening housing shortage in Auckland, where massive immigration-fuelled population growth continually overruns the supply of new dwellings. Yesterday, Auckland Council’s chief economist, David Norman, noted that even if the number of homes built in Auckland were magically increased by 20% and population growth was dropped by 25%,

By Leith van Onselen Statistics New Zealand released its permanent & long-term migration figures for July 2018, which revealed that immigration into New Zealand has continued to drift back from record high levels, with 63,779 annual net permanent and long-term arrivals landing in New Zealand in the year to July, down from a peak of

By Leith van Onselen The REINZ has released its house price data for July, which revealed a 0.2% seasonally adjusted monthly rise in the national median house price, with prices also up 6.6% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 0.2% in July, with prices up 8.6% year-on-year. Looking at the major

By Leith van Onselen Statistics New Zealand has released it’s June quarter population estimates, which shows that New Zealand’s population is fast approaching 5 million people, increasing by 92,000 (1.9%) over the past year to 4.89 million: As usual, this growth has been driven by mass immigration, which added 65,000 in the year to June: