PHOTO: Tony Alexander | REINZ & Tony Alexander Real Estate Survey
REINZ MEDIA RELEASE
Welcome to the REINZ & 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. The out-performance of the residential real estate sector
compared with the overall economy, and especially expectations of six months ago, has continued over the past month.
A high net 58% of responding licensed real estate agents say that they are seeing more people attending Open Homes, while a net 38% report more people at auctions. Prices are seen as rising by a net 88% and FOMO (fear of missing out) has risen again – from a net 77% in September to 81% this month.
But it is not all one-way traffic. Properties are being brought to the market to list with a net 36% of agents reporting that they are receiving more requests to appraise the potential sale value of properties. This is a sizeable jump from a net 19% last month.