Currently the housing stock is getting more and more, but you could check otu the details of new stocks.
Large numbers of townhouses projects , Agents list all the houses in the projects on the market which boost the stock level.
houses with sections including crosslease title are not too many
In view of international events, Trade war 2.0 from Trump would be inevitable
The difference this time is that most of countries would fight back against USA instead of compromising accordingly because economy of most countries is in dire straits
There is no compromising space anymore.
Canada and Mexico are facing the threat of tariff from USA and they said they might fight back or be looking for the new trade partners.
USA put 10% tariff on Chinese products and China fighted back straightway within 1 day for 10-15 % tariff on USA agricultural products and put some USA tech and weapon companies into the untrusted entity list
China also put 100% tariff on some Canadian products as the penalty for Canada put 100% on Chinese EV cars.
More captical might run away from USA and flood into political stable countries, e.g. Singapore etc
PM is working on attracting more investments for NZ infrastructure, but some people are opposing it becaues they think foreigh investment might erode NZ rights.
In my opinion, the right political control on the foreign investment would inject the positive stimulus into NZ economy instead of fearing the oversea investment, but Government needs to be smart, not like ACT, he wants to privatize education and health care, WHICH could damage kiwis lifestyle.
In current NZ situation, the further cuts would be inevitable to step out of the recession trap and boost the economy to create more jobs through more businesses instead of following USA to play trade war accordingly.
If by mid of this year, another 50-75bp could be cut, OCR would be drop between 3-3.25. Interest rate would be reaching 4-4.5% accordingly
Any small spark on the economy , housing market would be getting better.
I think by mid of this year, the housing market would be stablized accordingly and by the end of this year ( 2025), market would be reaching level of OCT 2020
This time would be much different than 2020-2021, due to high demand on the housing and less developers would like to build more, more costs on development
2026-2027 housing price might be returned back to 2020-2021 range.
* International events might be affecting NZ market.
Recent update
– Syria is in domestic chaos （ domestic war and race genocide)
– Houthi movement sent the Ultimatum to Israel to grant the clearance on the rescue goods to Gazza within 4 days, otherwise they will attack Israel and any ships related to Israel again.
– Israel bomb lebanon again
– China has sent the clear massage after USA secrateary of defense said USA is ready to have war with China about China will fight against USA until the end.
– USA and South Korea will have military drill close to north Korea who said USA and south korea will regret what they plan to do
– USA is trying to cooridnate with its alliance to block The Strait of Malacca which won’t be allowed by China and conflicts might be happening soon.
Association of Southeast Asian Nations won’t join in USA this time.
– Russia has surrounded 10,000 Ukraine soliders and NATO mercenary in Kurskaya Oblast
In reference to the covid period , when world is in chaos, NZ would be one of best the countries to escape including overea kiwis ( 1m kiwis are staying oversea)
If kiwis start to return to NZ, housing issues would be enlarged accordingly although some kiwis are heading Australia at moment. But NZ is small country , can’t hold too many influx of immigrant or population
Especially for Auckland, in reference of Covid period, 53% of returning kiwis stayed in Auckland.
By 2030, Auckland population would be increased to 2m and housing supply wont’ match this demand at any aspects
What if you are the buyer, what would you do?
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