{"id":10718,"date":"2018-01-29T10:15:33","date_gmt":"2018-01-29T10:15:33","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=10718"},"modified":"2018-01-29T10:15:33","modified_gmt":"2018-01-29T10:15:33","slug":"new-zealand-housing-market-stuttering-foreign-investors-abound","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/new-zealand-housing-market-stuttering-foreign-investors-abound\/","title":{"rendered":"New Zealand’s housing market is stuttering but foreign investors abound"},"content":{"rendered":"

Key cities including Christchurch, Tauranga and Auckland have seen their property markets slow down in recent months – and the number of owners selling houses at a loss is increasing.<\/strong><\/p>\n

According to data analyst CoreLogic’s recent Pain and Gain Report,\u00a0<\/em>0.1% of apartments and 4.1% of houses in New Zealand were sold at a loss during last year’s third quarter.<\/p>\n

Overall, apartments experienced a median loss NZ$25,000 (around \u00a313,000), while houses dropped by NZ$18,000 (around \u00a39,300), which the report pointed out was surprising given that the apartments were typically worth less than the houses.<\/p>\n

The worst hit places for loss-making resales during the quarter were Christchurch<\/a> with 11.1%, Tauranga with 3.9% and Auckland with 3.3%.<\/p>\n

Across the country as a whole, there was almost NZ$30m (\u00a315.5m) in realised losses, with a median loss of NZ$19,000 (\u00a39,900) per sale.<\/p>\n

Overseas buyers are still keen<\/h4>\n

The news may have been particularly unexpected for those who have witnessed an upturn in sales from foreign buyers ahead of the impending ban on overseas purchasers<\/a>.<\/p>\n

Chinese website Juwai, for example, has recently reported a large increase in New Zealand property enquiries as buyers rush to secure it ahead of the ban.<\/p>\n

At the end of last year, Juwai began a large marketing campaign to help Chinese buyers<\/a> get a foot on the New Zealand property ladder before it\u2019s too late and, as a result, it has seen enquiries jump by over a third.<\/p>\n

“Since we’ve been running the campaign and comparing it to November, the period just before the campaign, we’ve had a 35% increase in buyer demand or buyer inquiries for New Zealand property,” commented Dave Platter of Juwai.<\/p>\n

Meanwhile, New Zealand real estate agents Harcourts has had around 250,000 foreign users in the last 90 days compared with 200,000 over the same period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Key cities including Christchurch, Tauranga and Auckland have seen their property markets slow down in recent months – and the number of owners selling houses at a loss is increasing. According to data analyst CoreLogic’s recent Pain and Gain Report,\u00a00.1% of apartments and 4.1% of houses in New Zealand were sold at a loss during… Read more »<\/a><\/p>\n","protected":false},"author":1955,"featured_media":10727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[177,244,341],"class_list":["post-10718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-overseas-property","tag-chinese-investment","tag-new-zealand","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/10718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/1955"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=10718"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/10718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/10727"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=10718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=10718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=10718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}