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Reinz Capital Gains and Rental Yield Report Q1 2020

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Reinz Capital Gains and Rental Yield Report Q1 2020 REINZ CAPITAL GAINS AND RENTAL YIELD REPORT Q1 2020 © REINZ - Real Estate Institute of New Zealand SOUTHLAND CONTINUES RUN AS HIGHEST PERFORMING REGION FOR RESIDENTIAL INVESTORS The Southland region continues to remain the strongest performing region for residential property investors with the second highest capital gains in the country and second highest yield, according to new research from REINZ. Capital gains in Southland increased by 22.0% for the three “Auckland’s property prices peaked at $945,000 in March so it’s months ending March when compared to the same time last not entirely surprising that Auckland fell toward the bottom of year with median prices going from $287,000 to $350,150. the table in terms of both capital gains and yield. Even though Additionally, yields increased 4.8% year-on-year making it we’re in a post-COVID environment, there is still a shortage of the standout region for residential property investors in New listings which continues to put pressure on investors from a Zealand. pricing perspective, particularly when they are often competing with first home buyers for purchases. Close behind in terms of strong returns for investors was the West Coast region with the third highest capital gains in the “Looking forward, the following few months are likely to be an country (up 17.4%) but the highest yield for New Zealand at 6.1%. interesting time for investors. On one hand we’ve got some of the lowest lending rates we’ve ever had, the LVRs have Similarly, the Manawatu-Wanganui region performed very well technically been temporarily removed and lending to investors in terms of capital gains, up 23.9% year-on-year, the highest is up 25.7% year-on-year. But on the flip side, the country is in the country, and had good annual yields at 4.3% annually facing significant levels of rising unemployment and investors making it another region where investors will have seen good are waiting with bated breath to find out whether the 90-day returns over the past 12 months. notice will be removed as part of the Residential Tenancies Act Bindi Norwell, Chief Executive at REINZ says: “All regions changes,” concludes Norwell. across the country saw a good lift in capital gains for investors a result of strong median prices increases; with all but three regions (Auckland, Canterbury and Nelson) seeing double-digit increases. “Again, Southland has proved to be the ‘standout’ region in terms of providing investors with good returns – a trend we’ve seen for a number of months now, mostly the result of low property prices and good rental returns across the region. Bindi Norwell Additionally, the West Coast has proved to be positive place for Chief Executive investors over the first quarter of the year with the highest yield REINZ in the country,” she continues. “Looking forward, it will be interesting to see what level of impact COVID-19 has for residential property investors, particularly when you take into account the rental freeze and All data provided is for the three months ending March 2020 or the some tenants’ inability to pay their rent due to job losses,” three months ending March 2019, so where an annual movement is continues Norwell. referenced, this means the percentage change from the three months ending March 2020 compared to the three months ending March 2019. At the other end of the scale, the Capital Gains and Rental Capital gains is calculated by looking at the percentage movement in the median price for the three-month period referenced. Yields Report found that Auckland had the third to lowest Yield is calculated by looking at the annualised median rent as a capital gains across the country (up 7.5% year-on-year) and percentage of median price. the lowest annual yield of all regions (3.2%), making it the worst Lending to investors has been calculated using the RBNZ C31 data. performing region for residential property investors. 2 CAPITAL GAINS - REGIONS Median Sales Price 3ME Median Sales Price 3ME Median Sales Price 3ME Capital Gains Capital Gains Location Mar 2018 Mar 2019 Mar 2020 Mar 2019 Mar 2020 Auckland Region 850,000 843,000 906,000 -0.8% 7.5% Bay of Plenty Region 555,000 585,000 672,500 5.4% 15.0% Canterbury Region 445,000 450,000 475,000 1.1% 5.6% Gisborne Region 310,000 380,000 430,000 22.6% 13.2% Hawke's Bay Region 443,000 470,000 539,000 6.1% 14.7% Manawatu-Wanganui Region 289,000 343,000 425,000 18.7% 23.9% Marlborough Region 410,000 450,000 515,000 9.8% 14.4% Nelson Region 510,000 561,500 592,000 10.1% 5.4% Northland Region 445,000 500,000 550,000 12.4% 10.0% Otago Region 413,750 475,000 550,000 14.8% 15.8% Southland Region 240,000 287,000 350,150 19.6% 22.0% Taranaki Region 350,000 380,000 420,000 8.6% 10.5% Tasman Region 565,000 590,000 670,000 4.4% 13.6% Waikato Region 500,000 532,500 590,000 6.5% 10.8% Wellington Region 559,000 623,120 692,000 11.5% 11.1% West Coast Region 183,000 195,000 229,000 6.6% 17.4% CAPITAL GAINS Regions 3 RENTAL YIELD - REGIONS Median Rental Price Median Rental Price Median Sales Price Median Sales Price Yield Yield Location 3ME Mar 2019 3ME Mar 2020 3ME Mar 2019 3ME Mar 2020 Mar 2019 Mar 2020 Auckland Region 550 560 843,000 906,000 3.4% 3.2% Bay of Plenty Region 420 450 585,000 672,500 3.7% 3.5% Canterbury Region 400 420 450,000 475,000 4.6% 4.6% Gisborne Region 330 390 380,000 430,000 4.5% 4.7% Hawke's Bay Region 388 413 470,000 539,000 4.3% 4.0% Manawatu-Wanganui Region 320 350 343,000 425,000 4.9% 4.3% Marlborough Region 335 380 450,000 515,000 3.9% 3.8% Nelson Region 420 450 561,500 592,000 3.9% 4.0% Northland Region 380 420 500,000 550,000 4.0% 4.0% Otago Region 420 475 475,000 550,000 4.6% 4.5% Southland Region 285 320 287,000 350,150 5.2% 4.8% Taranaki Region 340 375 380,000 420,000 4.7% 4.6% Tasman Region 400 420 590,000 670,000 3.5% 3.3% Waikato Region 400 430 532,500 590,000 3.9% 3.8% Wellington Region 520 550 623,120 692,000 4.3% 4.1% West Coast Region 260 270 195,000 229,000 6.9% 6.1% RENTAL YIELD Regions 4 CAPITAL GAINS - MANAWATU-WANGANUI Median Sales Price 3ME Median Sales Price 3ME Median Sales Price 3ME Capital Gains Mar Capital Gains Mar Location Mar 2018 Mar 2019 Mar 2020 2019 2020 Horowhenua District 289,000 340,000 425,000 17.6% 25.0% Manawatu District 316,000 400,000 487,500 26.6% 21.9% Palmerston North City 365,000 420,000 515,000 15.1% 22.6% Rangitikei District 210,000 230,000 345,000 9.5% 50.0% Ruapehu District 170,000 195,000 262,350 14.7% 34.5% Tararua District 184,000 219,000 286,300 19.0% 30.7% Wanganui District 210,000 269,000 345,000 28.1% 28.3% CAPITAL GAINS Manawatu-Wanganui Region 5 RENTAL YIELD - MANAWATU-WANGANUI Median Rental Price Median Rental Price Median Sales Price Median Sales Price Yield Yield Location 3ME Mar 2019 3ME Mar 2020 3ME Mar 2019 3ME Mar 2020 Mar 2019 Mar 2020 Horowhenua District 320 350 340,000 425,000 4.9% 4.3% Manawatu District 350 375 400,000 487,500 4.6% 4.0% Palmerston North City 350 380 420,000 515,000 4.3% 3.8% Rangitikei District 240 280 230,000 345,000 5.4% 4.2% Ruapehu District 250 260 195,000 262,350 6.7% 5.2% Tararua District 240 273 219,000 286,300 5.7% 5.0% Wanganui District 305 360 269,000 345,000 5.9% 5.4% RENTAL YIELD Manawatu-Wanganui Region 6 CAPITAL GAINS - CANTERBURY Median Sales Price 3ME Median Sales Price 3ME Median Sales Price 3ME Capital Gains Mar Capital Gains Mar Location Mar 2018 Mar 2019 Mar 2020 2019 2020 Ashburton District 338,500 352,000 360,000 4.0% 2.3% Christchurch City 450,000 460,000 480,000 2.2% 4.3% Hurunui District 390,000 420,000 414,000 7.7% -1.4% Kaikoura District 420,000 420,000 453,500 0.0% 8.0% Mackenzie District 430,000 481,250 535,000 11.9% 11.2% Selwyn District 549,000 542,000 560,000 -1.3% 3.3% Timaru District 350,000 355,000 350,000 1.4% -1.4% Waimakariri District 443,000 458,000 475,000 3.4% 3.7% Waimate District 220,000 260,000 282,000 18.2% 8.5% CAPITAL GAINS Canterbury Region 7 RENTAL YIELD - CANTERBURY Median Rental Price Median Rental Price Median Sales Price Median Sales Price Yield Yield Location 3ME Mar 2019 3ME Mar 2020 3ME Mar 2019 3ME Mar 2020 Mar 2019 Mar 2020 Ashburton District 330 350 352,000 360,000 4.9% 5.1% Christchurch City 410 425 460,000 480,000 4.6% 4.6% Hurunui District 300 310 420,000 414,000 3.7% 3.9% Kaikoura District 420,000 453,500 Mackenzie District 300 320 481,250 535,000 3.2% 3.1% Selwyn District 450 460 542,000 560,000 4.3% 4.3% Timaru District 320 340 355,000 350,000 4.7% 5.1% Waimakariri District 390 410 458,000 475,000 4.4% 4.5% Waimate District 270 263 260,000 282,000 5.4% 4.8% RENTAL YIELD Canterbury Region 8 Disclaimer: This report is intended for general information purposes only.
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