Speaking to Real Estate Talks, GM of Sales & Marketing - Peter Bromley, provides an overview of what's happening in the NZ property market, with a particular focus on what's happening outside of Auckland. You can listen to the original podcast here .
NZ Property Values outside Auckland
The latest research from Auckland Cityscope shows that property sales value have decreased over the past three months.
The RBNZ led the way with the surprises in the last month – starting with the big OCR cut, but adding in debt to income reporting as well. Sales volumes in July also caught us by surprise – check out this months’ video to catch the detail.
Mortgaged multiple property owners (i.e. investors) accounted for 25% of property purchases across NZ in July, returning their market share to levels not seen since late 2016. This has reflected a bounce-back by smaller, ‘mum and dad’ investors, perhaps with only one rental property. The low returns available...