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Intention

This blog is intended to provide some comment on current issues for those in the housing market, based on statistics I gather for my own purposes.

I sometimes post on Facebooka few days after I update the blog, so if you want to see my analysis when I first publish it, you need to subscribe.

Note: a feature of my pages is that each page has a “Date Modified”, this refers to the last time I edited the words on the page. However, I often update the charts only, without editing the page, so check the latest data date on the chart, it is quite likely to be up to date.


Blog

My go-to for understanding the NZ market. It is based on advertised rentals divided by the number of current rentals published by MBIE as “Active Bonds”. Within the green band is the sweet spot for supply = demand, above it supply is ahead of demand and below is where the shortages are showing.

2022 Inventory for the whole of NZ is exactly in the middle of the range, but rental properties are in the wrong regions for renters, too many in Wellington and Auckland and too few in other major centres. Some landlords suggest this is due to Aucklanders moving away to Christchurch, Tauranga and Hamilton, they may be right.


Prices

Prices are always increasing, the rate of increase is always within a defined range when compared to the average household income by region. Special care to that value, it is not related to wages, it may include many earners in a household or people with many jobs, it is the sum of all income in the household, including extras like government payments

Here is a chart of Rents and a proportion of Household income by region from 1998. While prices have gone up 3.2 times since 1993, the actual proportion of rents within the capability of a household has remained constant. Auckland region (27-30%) has a higher proportion than other regions (20-25%)

Note that this chart is for calendar years so at the beginning of the year the mean may be a bit high due to seasonal factors, but this becomes normal by May-June.


My facebook page for this blog ishttps://www.facebook.com/JonetteNZ/

Jonette 2011