Welcome to the first issue of the new 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.
Key findings are:
- This month’s survey shows that while attendance at auctions is still relatively low, more people are attending Open Homes, there is greater market interest coming from investors, but more so from first home buyers. Price expectations are positive, though buyers have some concerns about them falling, along with concerns about their income and job security. Yet buyers also feel that listings are in relatively short supply.
- Prices are generally seen as rising everywhere, except Central Otago Lakes – Queenstown and Wanaka principally.
- Only a net 2% of agents see prices as rising in Auckland compared with a nationwide reading of a net 18%.
- First home buyers are seen as active almost everywhere, especially in the Waikato, Taranaki, and Canterbury.
- Investors are also seen as active almost everywhere, especially in the Bay of Plenty.