Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in New Zealand has been experiencing significant growth and development in recent years. Customer preferences in the New Zealand Real Estate market have been shifting towards more sustainable and eco-friendly properties. Buyers are increasingly looking for energy-efficient homes with features such as solar panels, rainwater harvesting systems, and insulation. This shift in preferences can be attributed to the growing awareness of the importance of environmental sustainability and the desire to reduce carbon footprints. Additionally, there has been a rise in demand for properties located in close proximity to amenities such as schools, shopping centers, and public transportation. One of the key trends in the New Zealand Real Estate market is the increasing demand for properties in urban areas. As the population continues to grow, there is a greater need for housing in cities and towns. This trend can be attributed to factors such as job opportunities, access to amenities, and a desire for a convenient lifestyle. As a result, there has been a rise in the construction of high-rise apartment buildings and townhouses in urban areas. Another trend in the New Zealand Real Estate market is the growing popularity of online property listings and virtual tours. With the advancement of technology, buyers are now able to view properties from the comfort of their own homes. This trend has been accelerated by the COVID-19 pandemic, which has limited in-person property viewings. Online property listings and virtual tours provide convenience and flexibility for buyers, allowing them to narrow down their options before visiting properties in person. Local special circumstances in the New Zealand Real Estate market include the influence of foreign buyers and government regulations. In recent years, there has been increased scrutiny on foreign buyers, with restrictions being placed on their ability to purchase properties. This has had an impact on the market, with a decrease in foreign investment in New Zealand Real Estate. Additionally, the government has implemented measures to address the issue of housing affordability, such as introducing a foreign buyer ban and implementing stricter lending requirements. Underlying macroeconomic factors that have influenced the development of the New Zealand Real Estate market include low interest rates and population growth. Low interest rates have made borrowing more affordable, encouraging individuals to enter the property market. Population growth has also played a role, with an increasing number of people needing housing. These factors have contributed to the demand for properties and the overall growth of the market. In conclusion, the Real Estate market in New Zealand is experiencing growth and development driven by customer preferences for sustainable and urban properties, the increasing use of online property listings, local special circumstances such as government regulations, and underlying macroeconomic factors such as low interest rates and population growth.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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