AUCKLAND:
Affordability issues remain at play and a construction boom means new supply is coming on to the market. But recent data suggests the market has turned a corner after a period of stagnation. Prices should hold steady or grow slightly, but the falls look to be over. Verdict: still quiet – but improving.
WELLINGTON:
The market has been booming for a few years, but conditions look weaker now. Supply shortage and affordability issues are at play. But higher prices have meant more listings so there’s more buyer choice. Verdict: it will keep trucking along, but softer times lie ahead.
CHRISTCHURCH:
This is a market moving to a different beat. Due to the earthquake rebuild, there is sufficient supply. For buyers, it’s affordable and there’s plenty of choice. Verdict: stable with solid long-term prospects but quiet in the short term.
DUNEDIN:
A buoyant market with no loss of momentum likely. Can’t see that changing. Supply is tight and there’s lot of infrastructure building and development going on. Verdict: further growth is likely.
TAURANGA:
Has similar pressures to Auckland. Prices are high and there’s affordability issues. The market is tough for local buyers, while out-of-town buyers do have an impact. Verdict: Growth caps at play, limited movement expected.
Chas Gunaratne 