Welcome to the August BNZ-REINZ Residential Market Survey

 

 

Good evening everyone.

Our August BNZ-REINZ Residential Market Survey has found that not only in Auckland but in some other parts of the country a sellers market dominates. Price pressure is upward on average nationwide but particularly in Auckland, Canterbury, and Otago. Only in Northland does there appear to be a wave of potential sellers appearing whereas in Auckland and again in Otago few potential vendors appear to be stepping forward.

With NZ interest rates set to stay low for a long time, mild signs that net migration flows may be turning around, and high awareness on the part of investors of the housing sector gains, strength in the residential real estate sector appears set to last through at least this year and next – though with continuing supply issues.  

Best regards
www.tonyalexander.co.nz
Tony Alexander
Chief Economist
Bank of New Zealand

Survey August 8 Survey August 8 (258 KB)

Any views expressed in this publication are the views of Tony Alexander and do not necessarily represent those of BNZ, or its related entities. The information in this publication is provided for general information purposes only, and is a summary based on selective information which may not be complete for your purpose. To the extent that any information or recommendations in this publication constitute financial advice, they do not take into account any person's particular financial situation or goals. Bank of New Zealand recommends that you seek advice specific to your circumstances from your financial adviser. Neither Bank of New Zealand nor any person involved in this publication accepts any liability for any loss or damage whatsoever may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this publication.

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