www.mpamag.com Open in urlscan Pro
104.18.5.198  Public Scan

Form analysis
3 forms found in the DOM

/nz/newsletter

<form class="newsletter__item" action="/nz/newsletter" data-hs-cf-bound="true">
  <div class="newsletter__item__input">
    <input name="email" type="email" class="form-control form-control--white-papers" placeholder="Enter your Email address here">
  </div>
  <div class="newsletter__item__btn">
    <button type="submit" class="btn btn-inline btn-inline--orange">Sign up</button>
  </div>
</form>

/nz/newsletter

<form class="newsletter__item--right" action="/nz/newsletter" data-hs-cf-bound="true">
  <div class="newsletter__item__input newsletter__item__input--right">
    <input name="email" type="email" class="form-control form-control--white-papers" placeholder="Enter your Email address here">
  </div>
  <div class="newsletter__item__btn">
    <button type="submit" class="btn btn-inline btn-inline--orange btn-inline--newsletter">Sign up</button>
  </div>
</form>

<form action="" role="search" class="ais-SearchBox-form" novalidate="" data-hs-cf-bound="true"><input class="ais-SearchBox-input" type="search" placeholder="Search" autocomplete="off" autocorrect="off" autocapitalize="off" spellcheck="false"
    maxlength="512" aria-label="Search"><button class="ais-SearchBox-submit" type="submit" title="Submit the search query"><svg class="ais-SearchBox-submitIcon" width="10" height="10" viewBox="0 0 40 40" aria-hidden="true">
      <path
        d="M26.804 29.01c-2.832 2.34-6.465 3.746-10.426 3.746C7.333 32.756 0 25.424 0 16.378 0 7.333 7.333 0 16.378 0c9.046 0 16.378 7.333 16.378 16.378 0 3.96-1.406 7.594-3.746 10.426l10.534 10.534c.607.607.61 1.59-.004 2.202-.61.61-1.597.61-2.202.004L26.804 29.01zm-10.426.627c7.323 0 13.26-5.936 13.26-13.26 0-7.32-5.937-13.257-13.26-13.257C9.056 3.12 3.12 9.056 3.12 16.378c0 7.323 5.936 13.26 13.258 13.26z">
      </path>
    </svg></button><button class="ais-SearchBox-reset" type="reset" title="Clear the search query" hidden=""><svg class="ais-SearchBox-resetIcon" viewBox="0 0 20 20" width="10" height="10" aria-hidden="true">
      <path d="M8.114 10L.944 2.83 0 1.885 1.886 0l.943.943L10 8.113l7.17-7.17.944-.943L20 1.886l-.943.943-7.17 7.17 7.17 7.17.943.944L18.114 20l-.943-.943-7.17-7.17-7.17 7.17-.944.943L0 18.114l.943-.943L8.113 10z"></path>
    </svg></button><span class="ais-SearchBox-loadingIndicator" hidden=""><svg aria-label="Results are loading" class="ais-SearchBox-loadingIcon" width="16" height="16" viewBox="0 0 38 38" stroke="#444" aria-hidden="true">
      <g fill="none" fill-rule="evenodd">
        <g transform="translate(1 1)" stroke-width="2">
          <circle stroke-opacity=".5" cx="18" cy="18" r="18"></circle>
          <path d="M36 18c0-9.94-8.06-18-18-18">
            <animateTransform attributeName="transform" type="rotate" from="0 18 18" to="360 18 18" dur="1s" repeatCount="indefinite"></animateTransform>
          </path>
        </g>
      </g>
    </svg></span></form>

Text Content

CONTINUE TO SITE

CONTINUE TO SITE


US
CA
AU
NZ
UK


 * NEWS
 * MORTGAGE INDUSTRY
    * Business growth
    * Guides
    * Industry moves
    * Industry trends
    * Market updates

 * BEST IN MORTGAGE
 * FOCUS
    * Aggregators
    * Commercial
    * Residential
    * Reverse
    * SME
    * Specialist lending

 * TV
 * RESOURCES
    * Premium content
    * NZ Adviser Talk
    * Events
    * Mortgage Broker Software Reviews

 * SUBSCRIBE


 1. 
 2. News


2024: A YEAR OF MIXED FORTUNES FOR NEW ZEALAND PROPERTY

Report reveals New Zealand's top property trends, luxury sales, and regional
standouts


By Mina Martin
12 Dec 2024
Share


CoreLogic’s Best of the Best 2024 report revealed a year of resilience and
contrasts in New Zealand’s property market.

While high-value luxury sales thrived, some areas recorded significant price
declines, and regional growth pockets stood out despite broader challenges.

CoreLogic NZ chief property economist Kelvin Davidson (pictured above)
highlighted the market’s volatility, noting that initial optimism in early 2024
faded amid economic headwinds.



“After an initial lift in values early in the year ... property prices quickly
resumed their decline as unemployment rose and interest rate cuts were delayed,”
Davidson said.

Since February, New Zealand property values nationwide fell 5%, with Auckland
and Wellington hit hardest, while Christchurch and Dunedin demonstrated greater
resilience.


LUXURY MARKET: AUCKLAND TAKES THE LEAD

Auckland maintained its dominance in the luxury market, securing nine out of the
top 10 most expensive suburbs.

Herne Bay retained its title as New Zealand’s priciest suburb, with a median
value of $3.36 million, followed by Saint Marys Bay ($2.76 million) and Remuera
($2.45 million).

Arrowtown was the only non-Auckland suburb in the top 10, with a median value of
$2.39 million.



The country’s highest transaction occurred in Orakei, where 84 Paritai Drive
sold for $21.8 million in March 2024.


REGIONAL HIGHLIGHTS: GROWTH AND STRONG YIELDS

While urban centers faced challenges, regional areas showed resilience:

 * Blaketown (Grey) led annual growth with a 16.7% increase in median values.
 * Cobden (Grey) recorded an impressive 108.8% gain over five years.
 * Mataura (Southland) delivered the highest gross rental yield at 10.8%, with
   Wellington Central following at 9.2%.


FAST AND SLOW MARKETS REFLECT DIVERGENCE

In terms of market activity, Wallacetown (Southland) had the fastest turnover,
with properties selling in just seven days, reflecting strong demand.
Conversely, Waimate recorded the slowest pace, with properties taking a median
of 83 days to sell.


CAUTIOUS OPTIMISM FOR 2025

Looking ahead, Davidson expressed cautious optimism for 2025, predicting a
modest recovery.

“Affordability has improved compared to recent years...,” he said. “While 2025
brings some positive sentiment, it’s unlikely to deliver sharp gains, with a
steadier path ahead for buyers and sellers alike.”



Davidson forecasts a 10% rise in sales volumes and a 5% increase in New Zealand
property values, though he cautioned that rising unemployment and new
debt-to-income restrictions could present challenges.


KEY TAKEAWAYS FROM CORELOGIC’S BEST OF THE BEST 2024

 * Most Expensive Suburb: Herne Bay, Auckland ($3.36M).
 * Most Affordable Suburb: Murupara, Whakatane ($191,600).
 * Top Sale: $21.8M at 84 Paritai Drive, Orakei.
 * Fastest Market: Wallacetown (7 days).
 * Top Growth: Blaketown (16.7% annual gain).
 * Strongest Rental Yield: Mataura (10.8%).

CoreLogic’s report underscores the New Zealand property market’s complexity,
where regional opportunities contrast with urban challenges as New Zealand’s
property sector heads toward a more balanced 2025.

Get the hottest and freshest mortgage news delivered right into your inbox.
Subscribe now to our FREE daily newsletter.





FREE E-NEWSLETTER

Our daily newsletter is FREE and keeps you up to date with the world of
mortgage. Please complete the form below and click on SIGN UP to receive daily
e-newsletters from NZ Adviser.
Sign up
Fetching comments...
Please enable JavaScript to view the comments powered by Disqus.


LATEST NEWS


2024: A YEAR OF MIXED FORTUNES FOR NEW ZEALAND PROPERTY


RBNZ IDENTIFIES AREAS TO IMPROVE FINANCIAL INCLUSION


WESTPAC INTRODUCES REAL-TIME GDP TRACKER


FREE E-NEWSLETTER

Our daily newsletter is FREE and keeps you up to date with the world of
mortgage.
Sign up

Companies People Newsletter About Us Authors Privacy Policy Cookie Policy
Consent Preferences Conditions of Use Terms & Conditions Contact Us Sitemap RSS

Copyright © 1996-2024 KM Business Information NZ