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Bank of New Zealand (BNZ) Stories - Page 5

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Bank of New Zealand (BNZ) stories

Report reveals main drivers for house price growth
Real estate

Report reveals main drivers for house price growth

Higher urban land costs and borrowing pressures have driven New Zealand house prices up for two decades, though reforms may ease them.

By Michael Curreen • 3 min read • Wed, 31st Aug 2022
Housing market facing challenges for rest of 2022
Real estate

Housing market facing challenges for rest of 2022

Sharply higher mortgage rates and refinancing demand are set to deepen New Zealand’s property slowdown, CoreLogic warns.

By Michael Curreen • 4 min read • Wed, 3rd Aug 2022
BNZ launches first tap-on-phone point of sale app in NZ
Small Business

BNZ launches first tap-on-phone point of sale app in NZ

Bank of New Zealand has launched BNZ Pay, an innovative mobile app for retailers that transforms an Android device into a contactless payment terminal.

By Jessie Chiang • 3 min read • Tue, 2nd Aug 2022
Fix, inflate or reset?
Real estate

Fix, inflate or reset?

Higher inflation and 30-year-high interest rates are forcing landlords and tenants to renegotiate rent formulas as costs and vacancies diverge.

By Michael Curreen • 6 min read • Mon, 1st Aug 2022
Prices flatten with keen buyers still out there
Real estate

Prices flatten with keen buyers still out there

Demand is still holding up this winter, with first-home buyers helped by easier deposit rules and lending changes despite softer sales.

By Michael Curreen • 11 min read • Sun, 17th Jul 2022
June sees hat-trick of property value drops
Real estate

June sees hat-trick of property value drops

Higher mortgage costs and tighter lending are set to keep house prices under pressure, with June marking a third straight monthly fall.

By Michael Curreen • 7 min read • Tue, 5th Jul 2022
First home buyers ‘marginally’ ahead in softening market
Real estate

First home buyers ‘marginally’ ahead in softening market

Lower entry-level house prices and wider government support are nudging first-home buyers closer to ownership despite rising rates.

By Michael Curreen • 2 min read • Thu, 23rd Jun 2022
Auckland house prices down on last year
Supply Chain

Auckland house prices down on last year

The city was the only New Zealand region to post an annual fall, with sales also down 38.3% as buyers paused amid higher rates.

By Michael Curreen • 4 min read • Wed, 15th Jun 2022
Widespread fall in house prices continue
Real estate

Widespread fall in house prices continue

Tighter, costlier credit is set to deepen New Zealand's housing downturn, with CoreLogic warning of more price falls and weaker sales.

By Michael Curreen • 6 min read • Wed, 1st Jun 2022
Higher OCR will keep pressure on housing market
Real estate

Higher OCR will keep pressure on housing market

Borrowers face higher mortgage costs and further house price weakness as the Reserve Bank signals the OCR may peak around 4% by mid-2023.

By Michael Curreen • 2 min read • Fri, 27th May 2022
Soaring inflation to stunt housing construction
Housing

Soaring inflation to stunt housing construction

Higher building costs and rates rises are set to force developers to shelve projects, threatening new home supply and affordability.

By Staff Writer • 2 min read • Tue, 12th Apr 2022
Regional differences showing as property market downturn sets in
Real estate

Regional differences showing as property market downturn sets in

Tighter credit and higher rates are leaving first home buyers more exposed, with some regions now showing early signs of vulnerability.

By Michael Curreen • 6 min read • Sun, 10th Apr 2022
Study explores climate change’s effects on property
Real estate

Study explores climate change’s effects on property

Rising flood risk from climate change could erode home prices and threaten banking stability in New Zealand's coastal cities.

By Michael Curreen • 3 min read • Tue, 29th Mar 2022
Price falls starting to appear across some suburbs
Real estate

Price falls starting to appear across some suburbs

Stretched affordability and higher mortgage rates are pushing median values down in 154 suburbs, with Auckland and Wellington among the weakest.

By Michael Curreen • 4 min read • Sun, 27th Mar 2022
Rising interest rates and tighter credit weighing on housing demand
Real estate

Rising interest rates and tighter credit weighing on housing demand

Mortgage activity has slumped as tighter lending and higher rates cool demand, with CoreLogic warning house prices may fall further.

By Michael Curreen • 5 min read • Tue, 1st Mar 2022
What the cash rate increase means for the property market
Supply Chain

What the cash rate increase means for the property market

Higher borrowing costs are cooling sales and slowing price growth, with more than half of NZ mortgages set to reset this year.

By Michael Curreen • 4 min read • Wed, 23rd Feb 2022
Housing affordability getting worse despite easing price growth
Real estate

Housing affordability getting worse despite easing price growth

Mortgage repayments now absorb nearly half of household income, as record house prices and weaker wages push affordability to fresh lows.

By Michael Curreen • 6 min read • Fri, 18th Feb 2022
Clearer picture of 2022 property market forming
Real estate

Clearer picture of 2022 property market forming

Sales volumes and price growth are easing, with REINZ figures showing weaker January activity and tighter lending weighing on buyers.

By Michael Curreen • 9 min read • Tue, 15th Feb 2022
2021 wrap-up sheds light on this year’s property market
Real estate

2021 wrap-up sheds light on this year’s property market

Rising rates and tighter lending rules are likely to cool demand, with CoreLogic warning some fixed-rate borrowers could soon see repayments double.

By Michael Curreen • 5 min read • Wed, 26th Jan 2022