Weekly insight 26.7

desperado1012

1. CoreLogic House Price Index eased from 3.1% (April) to 2.2% (May) then 1.8% (June)
2. The estimation of the housing shortage is about 67,000 houses. The major issue to close the gap are labour supply & material supply
3. House price in Avondale, Blockhouse Bay & New Lynn has jumped more than 30% in the last 12 months. The distance to CBD is the deciding factor and home hunters are eyeing Avondale.
4. Investors are buying about 25% of homes, down from 28% last year. While, first home buyers are buying 24%, up from 21% last year.
5. Since the interest rate raise, 83.4% of people believe their homeownership dream is no longer attainable for the average kiwi. 79.1% of house hunters feeling locked out of the property market.
6. Household net disposable income rose 3.1% (vs inflation of 3.3%). Household expenditure increase by 6.1%, while the household saving reduced to $0.2 billion.  
7. Leaky apartments are now sold at a massive discount as much as 60%, but the remedy cost could easily chew up those discount.
8. Sale rate% last week is 66%, more than the rate of previous week of 63%