PHOTO: Tony Alexander
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.
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 first survey for this report was sent out last week and received a good 442 responses. Where relevant we will compare results with a similar survey undertaken late in May which garnered 236 responses.
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 – a situation supported by monthly data from realestate.co.nz recently showing nationwide listings at the end of May down by 19% from a
year earlier.
Over time our survey will produce sufficient results for us to establish baselines regarding what are “normal” levels of readings for each topic we look at.
READ THE FULL REPORT HERE
