Mortgage demand drops by fifth as property market slumps further   Mortgage spending continues to plummet as homebuyers across the country sit on the sidelines of the slumping property market. Equifax New Zealand’s consumer credit demand index for the three months ended March shows overall consumer credit demand fell 6.2 percent from a year ago,…

National median house price falls 12.9% from a year ago   According to REINZ (Real Estate Institute of New Zealand), as of March this year, there has been a continued decline in house prices with a 12.9% annual drop1. The median house price for the whole country in March was $775,000 which is a 12.9%…

Mortgage demand is rapidly declining in a stagnant real estate market   According to Equifax NZ’s consumer credit demand index for March, consumer credit demand for all consumer credit loans decreased by 6.2% compared to the previous year and recorded the lowest loan demand since the COVID-19 lockdown in 2020. Meanwhile, mortgage demand has fallen…

Australian real estate agency “Raine & Horne” giant moves into New Zealand   Raine & Horne, which operates more than 300 offices worldwide, announced on the 12th that it will enter the New Zealand market. The Sydney-based international real estate agency will open four offices in the North Island of New Zealand in the second…