Auckland market activity picks up

  • Late last year, rule changes announced by the Government and Reserve Bank were aimed at slowing down the rapid growth in Auckland property values. Coincidentally, at around the same time, the Chinese stock market dropped sharply and the Chinese Government imposed tight controls on money leaving China.

As a result we saw sales activity slow in Auckland in the last few months of 2015, down 10 per cent on the previous year. Chinese buyers, who had been very active, largely disappeared from open homes and the auction rooms from late August onwards.

picks up