Residential Property Market Outlook Survey Quarter 3 2019

Residential Property Market Outlook Survey Q3 2019 1536x1040

Positive sentiment rising

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 September 2019 quarter Residential Property Market Outlook Survey:

  • Expectations for the median price over the next 12 months look to have risen further to a net positive* 20% recorded in the September 2019 quarter, up from 16% recorded in the June 2019 quarter.
  • Twelve of the 13 regions monitored recorded a net positive score, with Christchurch the exception, but optimism is rising, especially for new terraced and detached housing.
  • Eight of the 13 regions monitored recorded a higher net percentage result than the previous quarterly survey. 
  • Since the September 2016 quarter, Queenstown has consecutively taken out first place for the location respondents expect median sale prices to rise over the next 12 months.
  • Tauranga/Mt Maunganui remained in second place this quarter, while Napier/Hastings have replaced Wellington in third place.
  • Median price expectations in Whangarei have almost doubled with a net positive 18% compared to the June quarter at 10%.
  • The median price outlook for the Auckland region has achieved a net positive score (9%) for the first time since December 2018. Auckland also saw the greatest improvement from last quarter which recorded a net positive score of -6.4%.
  • The survey was undertaken after the Government’s decision to reset KiwiBuild. When asked if the reset will assist/help more New Zealanders into home ownership, 52% of respondents indicated “No”, 32% indicated “Yes”, 10% indicated “Same” and the remaining 6% indicated “Not sure”.
  • A total of 5,399 responses were utilised to construct this survey. 
 

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Residential Property Market Outlook Survey Quarter 3 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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