There were over 3,000 capital city homes taken to auction this week, making it the busiest week for auctions we’ve seen this year; in fact the largest number since March last year.
The number of residential properties advertised for sale this spring has been lower than last year across every capital city due to both less fresh stock being added to the market together with a rise in buyer activity.
CoreLogic’s national Home Value Index surged 1.7% higher over the month and delivered the fifth consecutive monthly increase, coupled with the largest monthly gain in the national index since 2003.
Financial institutions are consistently trying to win new share. There is a struggle to differentiate, when the key lever is always price.
The combined capital cities are set to see the busiest week for auctions this year, with 2,774 homes scheduled to go under the hammer, higher than last week’s 2,612 auctions held and the 2,749 recorded last year.
There were 2,599 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 72.9 per cent.
CoreLogic is currently tracking 2,369 auctions across the combined capital cities this week, down from 2,590 over the previous week and 2,701 over the same week last year.
Nationally, dwelling values have risen at roughly the same pace as household incomes over the past decade providing a relatively steady ratio of dwelling values relative to household incomes. At the same time, mortgage rates have fallen to generational lows, leading to an improvement in loan...
There were 2,571 homes taken to auction across the combined capital cities this week, up from 2,412 over the previous week making it the 2nd busiest auction week all year. Preliminary results show a clearance rate of 74.1 per cent, compared to last week’s final clearance rate of 70.6 per cent. One year ago,...
Since moving through a trough in May, the value of new owner occupier home loan commitments has increased by 17.3% through to the end of September and the value of investor loan commitments is up 8.4%
Auction activity is expected to remain relatively steady week-on-week across the combined capital cities, with CoreLogic currently tracking 2,439 auctions this week. Last week, 2,412 capital city homes were taken to auction and one year ago a higher 2,745 auctions were held.
The New Zealand financial landscape is changing. The concentration on compliance and responsible lending is pivoting institutions away from simply fighting for home loans to increase market share and profitability.