Cashed-up expat New Zealanders are helping the Central Otago and Queenstown Lakes real estate market defy predictions of a downward spiral in a post-Covid-19 environment, agents say.
The Government needs to change the rules to help first-home buyers enter Dunedin’s “absolutely mental” property market, a frustrated house hunter says.
Asking prices for houses are still hitting record highs in some regions, but the number of listings is down.
For the first time in years, more people in their 20s are eyeing up the housing market, and interest is particularly high in parts of Otago.
Ex-pats desperate to get out of London and first-home buyers determined not to miss out on while money is cheap have inundated real estate agents with calls to inspect homes for sale from April 28.
Senior economist Mike Jones says March pricing data has confirmed that the national housing market has "barrelled into lockdown" and says Queenstown and the Southern Lakes region, which are being devastated by the impact on tourism, would be hardest hit.
Real estate agents are hopeful increased interest in property will translate to action once people can move more freely.
The number of houses sold in Otago has increased by half on the previous month as prices continue to show large increases on last year.
Increasing numbers of frustrated Otago home hunters are heading to Canterbury, lured by newer and more affordable homes, local brokers say.
New Zealand house prices have not fallen since the 2011 Rugby World Cup - that's a "staggering" 100 consecutive months of year-on-year rises.
A Queenstown ratepayer’s upset a hotel developer’s going through the resource consent process without apparently satisfying council concerns.
Building material costs, high hourly rates for skilled tradies and increasing red tape are pushing building costs through the roof in the South, builders say.
House prices may be ratcheting up but the South Island is still the cheapest place in which to own or rent relative to annual incomes.
A stunning strip of coastal South Island land filled with forests, beaches and spectacular limestone cliffs is up for sale for $22.5 million.
Dunedin's house values are up by more than 20% on last year, which is more than double the increase in any other main centre, according to new figures.
Rents rose at the fastest pace in more than a decade in 2019, official figures show, amid strong demand and new rules for accommodation.
Dunedin people are being evicted from their rentals and struggling to keep a roof over their head, as a new report reveals the city’s houses are more unaffordable than the capital's.