What recession? Herne Bay, Arrowtown ride it out

What recession? Herne Bay, Arrowtown ride it out
Arrowtown house prices are up an average of $102,750 in three months. (Image: BusinessDesk)
Brent Melville
As a rule of thumb, house prices are driven by affordability and tend to react inversely to interest and mortgage rates.In the case of New Zealand, there are other, more recent, barriers thrown in the way of buyers in a deliberate attempt to slow the overheated property market. Those measures have included tighter lending regulations, loan-to-value ratio rules and a bunch more houses on the market in the wake of a record construction cycle. By consensus estimates, this year total sales volumes will be at about 67,000 – the lowes...

More Property

BNZ says housing market upturn will be 'slow and low'
Property

BNZ says housing market upturn will be 'slow and low'

High mortgage rates will stick around, the bank says.

Ella Somers 01 Dec 2023
Newmarket building goes green
Property

Newmarket building goes green

The building is designed to withstand some of the effects of climate change.

Staff reporters 30 Nov 2023
Build inflation slows to 4.9%, but fewer consents
Property

Build inflation slows to 4.9%, but fewer consents

Residential consents down more than a fifth on last year.

Staff reporters 30 Nov 2023
Profits up for Skyline, but Queenstown upgrade costs soar to $310m
Property

Profits up for Skyline, but Queenstown upgrade costs soar to $310m

While Korean business suffers from slow pandemic recovery, copycat sites.

Brent Melville 28 Nov 2023