LAST MONTH THE START OF EXPECTED SLOWDOWN IN PROPERTY VALUES
CoreLogic says last month could have been the start of an expected slowdown in property values
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The expected slowdown in property values may already be happening, according to one of Australasia's largest property data and valuation firms.
CoreLogic NZ says Quotable Value's House Price Index for February shows the late resurgence in housing values that occurred in Auckland after the election subsided in February, with a slight fall in average values.
At the same time average values in Wellington tracked sideways after showing sustained growth last year, while Tauranga was the only main centre to show continuing and sustained growth in property values.
CoreLogic's NZ's head of research Nick Goodall says the slowdown in property values expected this year may already be underway, but it doesn't appear that the drop will be very big.
"New Zealand's construction industry faces a major challenge in creating enough affordable stock at the speed required to keep up with our continually strong population growth," Goodall said.
"Net migration hasn't slowed much recently, with figures remaining near all-time highs.
"And of course the kicker is our still low interest rates.
"While banks have tightened their lending standards, low interest rates means borrowing higher sums to secure a desirable property is possible.
"All these things will continue to keep a stable foundation for property values," he said.
However he also warned that the market could be tilting in buyers' favour.
"As with anything, the devil is in the detail and in a changing market with weakening sales volumes, the power can start to shift to buyers as they become less anxious about getting onto the ladder and realise that waiting for the right property can pay off as savings climb faster than house values," he said.
We're talking new year resolutions...
Tidying the house before going to bed each night, meditating upon waking or taking the stairs at work.
What’s something quick, or easy, that you started doing that made a major positive change in your life?
Poll: Would you rather: Christmas in summer forever or winter forever?
Just a bit of a fun poll to get you thinking.
If you had to live out your Christmas days, would you prefer it was a summer Christmas or a winter Christmas?
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63% Summer
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35.7% Winter
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1.4% Other - I'll share below
⚠️ DOGS DIE IN HOT CARS. If you love them, don't leave them. ⚠️
It's a message we share time and time again, and this year, we're calling on you to help us spread that message further.
Did you know that calls to SPCA about dogs left inside hot cars made up a whopping 11% of all welfare calls last summer? This is a completely preventable issue, and one which is causing hundreds of dogs (often loved pets) to suffer.
Here are some quick facts to share with the dog owners in your life:
👉 The temperature inside a car can heat to over 50°C in less than 15 minutes.
👉 Parking in the shade and cracking windows does little to help on a warm day. Dogs rely on panting to keep cool, which they can't do in a hot car.
👉 This puts dogs at a high risk of heatstroke - a serious condition for dogs, with a mortality rate between 39%-50%.
👉 It is an offence under the Animal Welfare Act to leave a dog in a hot vehicle if they are showing signs of heat stress. You can be fined, and prosecuted.
SPCA has created downloadable resources to help you spread the message even further. Posters, a flyer, and a social media tile can be downloaded from our website here: www.spca.nz...
We encourage you to use these - and ask your local businesses to display the posters if they can. Flyers can be kept in your car and handed out as needed.
This is a community problem, and one we cannot solve alone. Help us to prevent more tragedies this summer by sharing this post.
On behalf of the animals - thank you ❤️
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