PHOTO: Tony Alexander
Welcome to the third issue of the REINZ and Tony Alexander Real Estate Survey. This survey gathers together the views of licensed real estate agents all over New
Zealand regarding how they are seeing conditions in the residential property market in their areas at the moment.
We ask them how activity levels are changing, what the views of first home buyers and investors are, and the factors which are affecting sentiment of those two large
groups.
In this month’s survey, for the second month in a row, all measures have improved except for the proportion of agents seeing extra enquiry from offshore. A net 25%
of agents are seeing more people attending auctions compared with a net 9% seeing this in July. A net 45% are seeing greater Open Home attendance versus 40% in July.
A net 59% feel that prices are rising, up from 34% in July, 18% in June, and a net 17% in May who felt that prices were falling.
These and the other results are consistent with the data and anecdotes revealing continuing strong investor and first home buyer interest in the residential real estate
market. Such interest may be getting encouraged by a decrease in concerns expressed about the risk of prices falling and the risks of income and job loss. Investors
remain highly motivated by low interest rates, but they are less hopeful of finding a bargain.
READ THE FULL REPORT HERE – Tony Alexander_Report_August_2020
