PHOTO: REINZ & Tony Alexander Real Estate Survey
The latest REINZ & Tony Alexander Real Estate Survey is out.
Taking a gauge of what real estate professionals across New Zealand are seeing in the residential property market in their areas at the moment, we get a view of changing activity levels, the views of first home buyers and investors, and the factors affecting sentiment across those two large groups.
The key results from this month’s survey include the following:
- The Reserve Bank’s cash rate increase and words of warning about recession have had an immediate impact on the real estate market.
- Agents report new downward pressure on average sales prices.
- First home buyers have pulled back but remain much more interested in making a purchase than investors.
- Buyers remain concerned about high interest rates, access to finance, and prices falling after buying.
For more information, please see the report attached or you can access it online here.
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