PHOTO: Property market
While predictions for the property market were all doom and gloom six months ago, New Zealand is now seeing a scramble for real estate amid the Covid-19 pandemic and an economic recession.
From first home buyers to multimillion dollar dealmakers, Kiwis are lining up to take advantage of the hot property market – and there aren’t enough houses to meet the soaring demand.
On Auckland’s Paritai Drive, house prices are rising, with one home buyer buying a $1.85 million property without stepping a foot inside.
The situation is the same in the South Auckland suburb of Manurewa.
“I’m quite frustrated. It’s every New Zealander’s dream to own their own property but we are struggling to do it, to be honest,” first home buyer Fua Talafua said.
The Talafuas are currently renting, but are hunting for a three-bedroom house with a backyard for their growing family.
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