Core Logic Snippets

Highlights from Core Logics data for June:

Changes in property values:

  Month Quarter Year Average value
New Zealand 1.8% 7.2% 22.8% $906,532
Auckland 1.5% 5.3% 18.6% $1,283,895
Hamilton 1.9% 10.0% 27.7% $801,919
Tauranga 1.0% 9.0% 23.2% $978,067
Wellington 2.3% 9.5% 30.8% $1,024,649
Christchurch 3.0% 9.6% 21.7% $631,114
Dunedin 1.3% 5.5% 19.6% $654,995

It’s good to see that after several years of low growth Christchurch is starting to reflect growth equal to or better than other parts of the country.

Only 3 areas of the country showed an actual negative growth figure for June – Gisborne at – 0.9%, New Plymouth – 0.3% and Napier – 0.1%. But these were coming off substantial increases prior to June.

A new study shows that New Zealanders spend 31.12% of their monthly outgoings on rent. Sounds high but actually only 10th highest.

Hong Kong 50.25%
Singapore 47.08%
Qatar 43.73%
UAE 39.85%
Kuwait 38.20%
Ireland 37.22%
USA 37.03%
Bharain 35.14%
Australia 33.3%
New Zealand 33.12%

Some Christchurch Statistics.

87.8% more houses sold in May 21 vs May 20 – 1,119 vs 596 – the highest May sales in 14 years.

42.8% decrease in inventory levels – 1,197 fewer properties

Values in top suburbs grew by between 20-25%. However there remain suburbs where you can buy for under $400,000.

25 Christchurch suburbs have grown in value by over $100,000.