Residential Property Market Outlook Survey Quarter 2 2019

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Median price outlook starting to stabilise?

Colliers’ quarterly market outlook survey asks residential property market participants if the median house price will stay the same, decrease, increase by less than 5%, or increase by more than 5% over the next 12 months across New Zealand. 

Highlights of our June 2019 quarter Residential Property Market Outlook Survey:

  • Expectations for the median price over the next 12 months look to have stabilised with a net positive* 16% recorded in the June 2019 quarter, up slightly from 15% recorded in the March 2019 quarter.
  • This is the first result since March-18 quarter that the national net positive result has not decreased.
  • The results also show that respondents expecting median prices to rise over the next 12 months still outweigh those who expect a decline.
  • Ten of the 13 regions monitored recorded a higher net percentage result than the previous quarterly survey.
  • Queenstown has taken out first place for the location respondents expect higher median sale prices over the next 12 months. Tauranga/Mt Maunganui remained in second place, while Wellington has held onto third place.
  • Median price expectations in Rotorua overall saw the greatest improvement with a net positive 21% compared to the March quarter at 7.2%
  • A lower proportion of respondents expect median prices to decrease over the next year in Auckland compared to the last survey.
  • The survey was undertaken after the Government’s rejection of The Tax Working Group’s tax report. When asked if the rejection of the tax report will influence prices, 52% of respondents indicated “Yes”, 34% indicated “No” and the remaining 14% indicated “Not sure”.
  • 84% of respondents who stated that prices would be influenced expect prices to increase.
  • A total of 9,614 responses were utilised to construct this survey.
 

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Residential Property Market Outlook Survey Quarter 2 2019

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Chris Dibble

Director | Research & Communications

Auckland CBD

Chris Dibble oversees the delivery of award-winning research reports, PR and Communications for Colliers International New Zealand. With over 13 years of experience and university qualifications in economics, geography, marketing and property, Chris has a  multi-disciplinary approach that assists a broad range of clients in their strategic decision making. Chris is a regular presenter and market commentator with an extensive network of media contacts to discuss the latest insights on current and future property trends. Chris also works with in-house and external writers to curate an audience-focused content delivery strategy for Colliers.

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