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.
Poll: If we want to reduce speeding, what do you think actually changes driver behaviour? π»π¨π
In the Post's article on speeding penalties, the question is asked whether speeding fines are truly about road safety, or are they just a way to boost revenue for the Crown?
What do you think? Should speeding motorists receive speeding fines or demerit points?
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37.1% The sting of a fine (Money talks!)
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62.9% The threat of demerit points (Nobody wants to lose their license!)
Some Choice News!
DOC is rolling out a new tool to help figure out what to tackle first when it comes to protecting our threatened species and the things putting them at risk.
Why does this matter? As Nikki Macdonald from The Post points out, weβre a country with around 4,400 threatened species. With limited time and funding, conservation has always meant making tough calls about what gets attention first.
For the first time, DOC has put real numbers around what it would take to do everything needed to properly safeguard our unique natural environment. The new BioInvest tool shows the scale of the challenge: 310,177 actions across 28,007 sites.
Now that we can see the full picture, it brings the big question into focus: how much do we, as Kiwis, truly value protecting nature β and what are we prepared to invest to make it happen?
We hope this brings a smile!
π Riddle me this, legends! π
He/She who makes it, sells it.
He/She who buys it, doesn't use it.
The user doesn't know they are using it.
What is it?
(Shezz from NgΔruawΔhia kindly provided this head-scratcher ... thanks, Shezz!)
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
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