New Zealand’s housing market is stuttering but foreign investors abound


Key cities including Christchurch, Tauranga and Auckland have seen their property markets slow down in recent months – and the number of owners selling houses at a loss is increasing.

According to data analyst CoreLogic’s recent Pain and Gain Report, 0.1% of apartments and 4.1% of houses in New Zealand were sold at a loss during last year’s third quarter.

Overall, apartments experienced a median loss NZ$25,000 (around £13,000), while houses dropped by NZ$18,000 (around £9,300), which the report pointed out was surprising given that the apartments were typically worth less than the houses.

The worst hit places for loss-making resales during the quarter were Christchurch with 11.1%, Tauranga with 3.9% and Auckland with 3.3%.

Across the country as a whole, there was almost NZ$30m (£15.5m) in realised losses, with a median loss of NZ$19,000 (£9,900) per sale.

Overseas buyers are still keen

The news may have been particularly unexpected for those who have witnessed an upturn in sales from foreign buyers ahead of the impending ban on overseas purchasers.

Chinese website Juwai, for example, has recently reported a large increase in New Zealand property enquiries as buyers rush to secure it ahead of the ban.

At the end of last year, Juwai began a large marketing campaign to help Chinese buyers get a foot on the New Zealand property ladder before it’s too late and, as a result, it has seen enquiries jump by over a third.

“Since we’ve been running the campaign and comparing it to November, the period just before the campaign, we’ve had a 35% increase in buyer demand or buyer inquiries for New Zealand property,” commented Dave Platter of Juwai.

Meanwhile, New Zealand real estate agents Harcourts has had around 250,000 foreign users in the last 90 days compared with 200,000 over the same period last year.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800


Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator


Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.


Not a member? Sign up for free

New Zealand

New Zealand’s housing market is stuttering but foreign investors abound


By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.