10 market predictions for the rest of 2019
Here’s what CoreLogic believes are the top 10 factors to look out for:
1. Sales volumes to stay pretty flat, with various downward drivers (e.g. slowing GDP growth) largely offset by other positive factors (e.g. low mortgage rates). Our sales model points to an annual total in the range of 85,000-90,000 for 2019 as a whole, about in line with the average for the past decade.
2. Average property values still rising but in a restrained fashion, with the more affordable towns and cities in “regional New Zealand” likely to record the largest increases. By contrast, it wouldn’t be a surprise to see further weakness in Auckland – as buyers bide their time.
3. Further loosening of the LVR rules in November, reflecting our expectation of steady market conditions. Possible options include lowering the owner-occupier deposit requirement from 20% to 15% and/or raising the investor speed limit for high LVR lending from 5% to 10%.
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