With Nick away on leave in Northland, Kelvin takes up the reins and outlines how the Early Market Indicators still point to a tight supply/demand balance over the next few weeks and months.
Meanwhile, the latest net migration figures have remained low and slow, and perhaps a bit ‘boring’ – certainly, other factors such as low mortgage rates and FOMO are more important for the property market right now.
Kelvin also discusses how CPI inflation was well-contained in Q4 2020 and that expectations for the official cash rate to go below zero have been pedalled back. The prospect of higher interest rates is still some way off, but does need to be kept in mind.
It’s also good to see CoreLogic data powering up Stuff’s Affordability Dashboard, but unfortunately for aspiring first home buyers, raising the deposit is still difficult.
Our Queenstown Pulse article also got some coverage last week, and outlines how the rebound in that part of the country is to do with supply & demand, and perhaps some ‘bargain hunting’ too.
Finally, note that the LVR consulation is now closed, so Kelvin discusses some of the relevant issues.
Check out all our regular CoreLogic research insights at https://www.corelogic.co.nz/research-news and get in touch on LinkedIn, twitter @NickGoodall_CL or @KDavidson_CL or send us an email on nick.goodall@corelogic.co.nz or kelvin.davidson@corelogic.co.nz
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