QV data shows residential property market slowly recovering
The residential property market is showing signs of “revitalisation” throughout the country, according to Quotable Value.
The market remained largely flat overall, with the average home value increasing by just 0.9% in the September quarter to $899,256, the latest QV House Price Index showed.
However, twice as many of the main urban centres it monitored experienced positive home value growth in the September quarter compared to the previous three months.
Invercargill was the leader of the pack, with the city’s rolling three-monthly rate of home value growth building for the fourth month in a row to 3.2% in September. The average home value locally was now $468,009.
Auckland experienced another modest month of positive home value growth with the average home value increasing by 0.8% in September to $1,261,919. Six of the Super City’s seven former territorial authorities also experienced small increases last month.
However, home values remained 7.1% lower on average than the same time last year, and 5.8% lower than at the start of 2023.
QV valuer Hugh Robson said the Auckland residential market continued to show signs of modest recovery.
“However, we’re still waiting for the spring surge in listings. Listings on the market remain quite low, which may result in some upward price movement in coming months.
“First-home buyers make up a large portion of people looking at property. Many of them have been looking at new town houses and apartment developments.”
“It appears many investors are continuing to hold off for now, potentially waiting to see what happens with the upcoming election,” Robson added.
September marked the Wellington region’s first quarterly home value increase since the residential property downturn began in late 2021.
The index showed the region’s average home value increased by 1.5% to $837,935 throughout the three months to the end of September, following two consecutive months of positive growth.
Hutt City (-0.1%) was the only local territorial authority that experienced a small decline, with Porirua (3.4%) recording the largest average increase.
Queenstown’s residential market had largely stabilised. Its average home value increased by 0.9% to $1,726,315 in the September quarter, a fraction of a percentage point higher than last month’s quarterly rate of home value growth.
The average home value is now 1.9% higher than the same time last year, compared to a 6% average annual home value loss nationally.
In Christchurch, the market had entered spring with a small amount of upward momentum. The Garden City’s average home value increased by 0.6% throughout the September quarter to reach $734,681, with its three-month rolling rate of growth remaining positive for the third straight month.
Home values in Hamilton remained largely static this quarter. The city’s average home value increased by just 0.1% to $776,133 throughout the three months to the end of September 2023.
All but one of the main centres showed either positive home value growth or the rate of decrease softening this quarter.
The exception was New Plymouth, where its rate of reduction increased to 1.5% in September.
That was the second-largest average home value reduction, after the 1.8% decreases recorded this quarter in both Whangārei and Nelson.
QV operations manager James Wilson said the market was best described as being flat right now, but there were certainly signs of life.
“A recovery is underway, which is largely being fuelled by first-home buyers. They remain the most active group by far, but we’re also now starting to see it expand beyond just entry-level locations for the first time.
“Though people remain cautious, prospective buyers have been watching the market bottom out, and even start to increase a little bit in some areas, and now they’re getting increasingly active. A return to record migration is also helping to fuel demand.”
He said this increase in competition was putting upward pressure on prices, with the number of new property listings coming onto the market also remaining largely flat overall.
He said there would likely be an up-tick in residential property listings after the election, but until then, there was still lots of uncertainty out there, which markets did not tend to respond well to.
“For that reason alone, I expect the market will stay flat to gently rising for the foreseeable future.”
최신 QV 자료: 주거용 부동산 시장 서서히 회복 중
지난 9월 분기 동안 증가한 평균 주택 가치를 보여주는 최신 QV 주택 가격 지수(Quotable Value)에 따르면 전국적으로 주택 시장이 ‘활기찬 회복’의 조짐을 보이고 있다.
최신 QV 주택 가격 지수에 따르면 9월 분기에 평균 주택 가치는 899,256달러로 전반적으로 시장은 대체로 안정되었으며 3개월 동안 0.9% 상승했다.
이번 분기에 모니터링된 주요 도시 중 절반 이상이 이전 3개월 대비 양적인 주택 가치 증가를 경험했다.
인버카길은 4개월 연속으로 3.2% 상승하여 9월에 지역의 평균 주택 가치는 현재 468,009 달러이다.
오클랜드는 9월에 평균 주택 가치가 0.8% 상승하여 1,261,919달러로 다시 한 번 양적인 성장을 경험했다. 슈퍼 시티의 일곱 지방 자치 단체 중 6개가 증가를 경험한 것으로 나타났다.
그러나 주택 가치는 작년 동기 대비로 평균 7.1% 낮아졌으며, 2023년 초에 비해 5.8% 낮아진 상태이다.
QV 감정사 휴 로브슨은 오크랜드 주택 시장이 조금씩 회복의 조짐을 보이고 있다고 말했다.
“주택시장은 여전히 봄에 나타날 것으로 기대되는 매물 증가를 기다리고 있다. 현재 시장에 나와 있는 매물은 여전히 수요에 비해 적은 편이며, 이로 인해 향후 수개월 동안 일부 주택 가격의 상승이 나타날 수 있다.
첫집 구매자들이 부동산 구매자의 큰 부분을 차지하고 있다. 그들은 새로운 타운하우스 및 아파트 개발에 관심이 많다. 현재로서는 아직까지 평탄하다고 설명할 수 있지만, 분명히 활기의 조짐을 보인다. 부동산 시장의 회복이 진행 중이며, 이는 주로 첫집 구매자들에 의해 견인되고 있으며 훨씬 더 크게 확장되고 있다. 구매자들은 여전히 신중하지만 부동산 시장이 최저점에 도달하고, 어떤 지역에서는 조금씩 상승하기 시작하고 있다는 것을 지켜보았으며, 이제 점점 더 활동적으로 참여하고 있다. 기록적인 이민의 복귀도 수요를 촉진하는 데 도움이 되고 있다.” 고 말했다.
그는 “이 주택 구매 경쟁 증가가 부동산 가격에 상승 압력을 가하고 있도 새로운 부동산 매물들은 전반적으로 안정된 상태를 유지하고 있다. 선거 이후에 주택 매물이 늘어날 것으로 예상되지만, 그 전까지는 여전히 많은 불확실성이 남아 있으며 시장은 불확실성에 잘 대응하지 않을 것이이며 이러한 이유로 당분간 부동산 시장은 평탄하게 유지되거나 약간 상승할 것으로 예상된다.”고 덧붙였다.