WHAT IS DRIVING HOUSE PRICES AND RENTS UP? A commonly asked question and main factors quoted are: Number of sales low, Interest rates low, Official cash rate low, Immigration up, building consents up, mortgage approvals up, rents up. While we get bombarded with information on those factors, we are often frustrated with the lack of data available for the Hawkes Bay urban area. This is why we have decided to watch out for scraps of information to back up our anecdotal evidence on market development. We will do that under the heading “Housing demand Hawkes Bay”.
Consents for houses are up in Hawkes Bay but there is concern that there is a land shortage. Statistic New Zealand figures: 40 new dwellings were granted consent this January – twice that of last January (2015) (HB-Today 05-03-2016 P 13)
CHINESE VISITOR NUMBERS SET TO GROW – Currently 4 per cent of Chinese have a passport. This is expected to grow to 20% by 2025. (HB-Today Sat 05-03-2016 P 3)