Real estate stories
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Rising borrowing costs are keeping buyers on the sidelines as New Zealand sales fall 36.1% year on year and prices soften.
Sales rose nearly 8% in November, offering a rare sign of resilience as New Zealand’s median house price fell 12.4% year on year.
Vacancy and rents are diverging sharply as investors favour prime offices, while retail footfall and industrial demand remain uneven across New Zealand.
Hybrid working is driving up waste and costs in offices, as building managers struggle to predict occupancy and energy demand.
Mortgage holders may welcome easing nationwide declines, but Wellington is still leading the slump, with Porirua posting the steepest falls.
Demand for flexible space outside Auckland's central city is driving pre-leasing at Kiwi Property's $63 million Sylvia Park development.
Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.
The move leaves Auckland’s tallest tower site back on the market as ICD Property refocuses on Australian projects amid a weaker global economy.
Critics say the overhaul could add bureaucracy and legal uncertainty, raising doubts it will ease New Zealand’s housing crisis.
Higher borrowing costs have not stopped New Zealand first home buyers lifting their share of purchases to 24% as prices ease.
Higher interest rates are cooling New Zealand’s housing market, with sales down 34.7% and buyers hesitant despite more enquiries.
Further official rate rises are likely to keep mortgage costs high and delay any rebound in New Zealand’s housing market.
Projects risk missing tenants and returns unless developers align design and operations from the outset, a UKO co-founder says.
Farm sales have fallen sharply as higher costs, volatile weather and policy pressure weigh on rural confidence across New Zealand.
Higher rates and living costs are keeping sales subdued, even as more first-home buyers and bidders return to spring open homes.
Tenants including EY and Fujitsu are moving into a seismically resilient six-storey building, lifting Wellington’s office supply by 10,049sqm.
Vacancies are at multi-year lows nationwide as booming logistics demand and tight land supply push industrial rents and values higher.
Desirable school zones are propping up prices and fuelling buyer demand as families hunt for homes with stronger future resale prospects.
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