It's pretty scary out there right now - but despite appearances, the foundations are already being laid for the housing market's recovery.
Do we have any evidence in hand of the impact on the residential real estate market yet of the recent round of fixed mortgage rate increases undertaken by banks? Yes, we do.
A mix of high residential construction levels and a falling population has proven a bit of a nasty cocktail for Auckland house prices. But they're the same factors that will usher in the region's recovery.
There's not much cause for optimism out there among global economy headlines at the moment - but the outlook for New Zealand isn't all bad.
On average over the past decade there have been around 81,000 dwellings sold each year all around New Zealand, but the way things are tracking we look set to see a fall to around 65,000 within the coming year. How will we know when things are going to turn around?
I saw a newspaper headline recently along the lines that house prices have now bottomed out because some banks have cut their two year fixed mortgage interest rates. But interest rates aren't the only factor causing house prices to go down.
Independent Economist Tony Alexander gives us a breakdown of what is happening in financial markets and the housing market.
When will house prices stop falling? No-one knows. But it looks like we are quite a long way off the bottom being reached for a number of reasons.
Development companies have been recently finding that client enquiries are falling away. People can see prices falling so will naturally feel the longer they wait perhaps the cheaper the construction cost will be.
How do I know when a downturn in the market is serious, entrenched, and likely to last for some time? There are a number of measures I look at including data on prices and results from my surveys, but one special factor is the blame game.
Here is a quick high level run-through of the main things happening in the residential real estate market on average in New Zealand.
New builds can be a great option for investors and first home buyers alike - and if you’re considering buying off plan, there are a few things to keep in mind to help you buy well.