PHOTO: CoreLogic New Zealand Report
The latest CoreLogic Quarterly Property Market and Economic Update has just been released, and in it we suggest that the overall property market outlook may be one of future uncertainty with the foreign buyer ban yet to make its full impact. As a researcher living and breathing property data, I’m suggesting that the buyer ban has the potential to dent values in areas such as Queenstown and Auckland. The flipside to that risk is a general undersupply of property (particularly in Auckland), with NZ’s currently high levels of building consents needing to continue for some time yet to close that gap. In the meantime, shortages of property will support values.
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