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31-08-2015

The ANZ Property Focus in August looks a the regions

August 2015: A look at the regions (PDF 160kB)

Sales volumes, the median days to sell and annual house price inflation in July were all the strongest since 2007, with sales activity in the upper North Island strengthening. The RBNZ stated that interest rate rises would not be appropriate to dampen the Auckland market, but that speed limits to slow investor demand in Auckland will be here in November. Nationwide residential consent issuance (supply) has essentially flat-lined over the first half of this year, although the growth baton is clearly in northern hands. Record net immigration and low mortgage rates are key supports for now. Construction has flat-lined and is low relative to population needs. Household credit growth has picked up and is running ahead of household incomes.

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