No signs of slowdown with another month of property market records

The property market continued to hit record highs in November, with the highest number of residential properties being sold since 2006, according to the latest data from the Real Estate Institute of New Zealand (REINZ).

It has now been more than a month since the re-emergence of Covid-19 in our community and the subsequent lockdowns, giving plenty of time to assess its impact on the property market.

New Zealand’s property market remains relatively strong despite the recent movement of Covid-19 Alert Levels throughout the country, with a number of key property performance indicators holding their own in recent months.

Contrary to many economists’ predictions, most actual, key property market indicators are looking positive for sellers when you look at June sales data, with the number of sales throughout the country in June 2020 up 11% on the same month last year and house prices also trending upwards.

As we move well into the winter months, there is no doubt the property market has been affected by Covid-19 – as is the case with almost all sectors in New Zealand. It’s too early to make any definitive calls about the full effect of the virus while the market is still in recovery mode, however t..

With the welcome transition into Alert Level 1, New Zealand is now in the enviable global position of being able to begin rebuilding its economy in post-Covid environment. That being said, the future of many sectors and industries are still up in the air – and a hot topic on everyone’s lips is th..

Now we have entered Alert Level 1 as a nation what does that mean for the property market.

Like many industries in New Zealand you may well hear a collective sigh of relief from your local Real Estate agents and Property Managers when we enter Level 2.

Professionals offices across New Zealand are open for business under Alert Level 3 from Tuesday 28 April. All of our teams are committed to the health and safety of our staff and community while working to provide our clients with the best possible outcome in current market conditions.

To keep ou..