tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, August 6th, 6:52PM

News

rss
Latest Headlines

Waikato: A bellweather property market?

Trying to predict what happens in the various property markets around the country is something many investors seek to do.

Wednesday, November 5th 2008, 11:36AM

by The Landlord

One tool which is being used more is tracking traffic patterns on relevant websites. Alistair Helm at realestate.co.nz has been doing just that and has suggested the Waikato market may be a ‘bellweather’ region.

Statistics show Waikato was one of the first regions to go into the slowdown. This has been confirmed by real estate agents such as Lynn Eagar. He agrees with the report’s findings, which show the first signs of the slowdown in the property market came “way back in the late summer of 2007”.


The report says sales began to tumble from their peaks of 600-plus per month and sales volumes began rising from a base of fewer than 3,000 in the first quarter of 2007, to close to 4,000 by the end of the year.

The question is whether it will be one of the first regions to pick up.
Helm isn’t going so far as to say that it will be one of the first to recover, but will be watching it closely.

Eagar says he noticed that even in late 2006, the market had started to change.

“If you look at the statistics, the volume dropped off slightly in late 2006. Then it continued to drop every month through 2007. But because we were coming off such a high base, it didn’t really kick in until September 2007.”

Back then, Eagar sent a note out in his newsletter saying the market had contracted. “Certainly when I look back now, I realise the stats had started to indicate the fall in 2006. We probably were a bellwether and I didn’t realise it.”

Eagar says from February 2008, “the penny really dropped”. The interesting thing, he says, was the same thing happened in the Waikato in the 1991 downturn, “which was the worst period since I have been in real estate.” The warning signs for the downturns came early to the Waikato for both periods. This time, he says, the Waikato has felt the slowdown more keenly “and the rest of the country is still following us”.


« Will Ha have the last laugh?November ready for action in market »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 ▼2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼3.15 3.29 ▼3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 5.50 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 ▼3.85 ▼3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.55 2.65 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac ▼3.39 3.45 ▼2.99 ▼3.35
SBS Bank 4.54 3.09 3.19 3.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.59 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 ▼2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 ▼3.29
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.65 3.69 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.12 3.19 3.14

Last updated: 6 August 2020 8:24am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com