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Comments from Tony Alexander's latest BNZ Confidence Survey email.
Regards
Comments from Tony Alexander's latest BNZ Confidence Survey email.
Real Estate – Residential
• Residential Real Estate. Last month was very quite. The market needs time to adjust to realign buyers
and sellers
• Real Estate - No signs of slowing down. Listings still very tight with many buyers still out there. Expecting
a little slower during winter.
• Real Estate. Buyers are not in a hurry anymore, less buyers now that a couple of months ago, interest
rate would have something to do with this.
• Property investing, and things are looking pretty good for trading properties. Have even bought two buy
and holds in the last 2 months.
• Rental properties full with little vacant time between tenancies. Rents edging up.
• Rental Flats. I’m downsizing and selling. The return on capital just isn’t there, and I can’t see much more
to come in the way of capital gain.
• Residential Real Estate Central Auckland - Many frustrated buyers trying to talk the market down. Sorry
(for their sake) to report that the market is as hot as ever with multiple offers everywhere and still a
shortage of listings for them to look at. Family homes in the $700,000 to $1.3mil bracket very popular
and selling quickly.
• Residential real estate, North Shore listings continue to be hard to get, investors are back in town,
realistically priced properties sell fairly quickly, buyers who hesitate to commit lose out and talk about it,
prices getting stronger. It will be interesting to see if the latest RB increase can stem a tide surging
around 8-10 % per annum and maybe accelerating due to lack of listings. The market has a feeling of
2003 revisited.
• Real estate.........Has slowed in volume and no doubt it will affect the price in time.
• Valuation & Property Consultants - Nelson, market still very buoyant despite interest rate rises. Demand
greater than supply, properties being sold very quickly, some not getting advertised, especially the lower
price bracket up to $350k.
• The real estate market has strengthened as the interest rates have increased. Our office has just had it’s
best Feb/Mar/Apr/May ever and June has started very strong.
• Real estate still more buyers with money and not enough variety of properties to satisfy the need. Still
appears plenty of mortgage money available
• Residential Valuations Most of my work is valuations for refinancing. Volume of work has almost halved
in the last 2 weeks.
• Residential Property Management. Rents for good properties in good areas are still in demand. Older
poorly insulated houses may have to be discounted.
• Real Estate. Far North. A lot more listings coming forward Especially near coastal sections.
Buyers harder to find.
• I am in Real Estate, the current market in our industry is light listings and heavy on buyers. Having
stated the obvious with the latter comment, the buyer market is in the main unable to purchase at the
current market rates, nor are they able to sustain the continually increasing interest rates.
• (Long-term residential property investment) I am finding firm demand from people wanting to rent houses
in provincial towns. As a result, rentals are rising by $20 or more a week every 6 months or so. Leasing
prices for residential property are rising faster in percentage terms than are house prices in percentage
terms. Less houses are being built now than 2-3 years ago so I believe an on-going shortage of houses
to rent is occurring. Prospects for the long-term residential property investor leasing housing look very
bright regarding rental increases.
• Real Estate: Lower South Island: Buoyant. Residential listing shortage. Rural sales strong. Competition
fierce.
• Property management (residential) Rent price resistance evident. More properties available. Owners
expectations of rent increases might not be sustainable. Higher rents ($600+) not moving, probably due
to falling immigration. Increase in requirement from tenants for long term contracts, goes to ownership
difficulties.
• Property valuation is slowing down
• Residential Real Estate. Listings are very hard to come by. Still more buyers than sellers but I would
expect interest rates to bite and affect affordability
• Property Valuation - In the past couple of weeks numbers of enquiries have definitely decreased but
work flow is still steady
• Residential valuation - the residential property market is still buoyant however building costs appear to
be slowing construction activity. Constructions margins are getting smaller as the ceiling of affordability
for the end product falls due to interest rate rises. A correction for some parts of the market is probably
not far away.
• Real Estate Slowed down - even for seasonal adjustments taken into account. Expect interest rates to
increase again this year. Some Property Investors (especially if coming off fixed rates) will lead start to
sell some of their investments as they see property values also don’t have the capital gain in the
foreseeable short term. Market will switch from current sellers market to a buyers market which will drop
prices and effect property values in the short term.
• Rural & Lifestyle sale-South Auckland. Good listings still hard to find. Buyers still ringing. There is a
demand for smaller (2 acre) blocks.
• Property advisory - Still going strong, can not see it slowing down in the short term. All areas of the
property industry are booming.
• Residential Real Estate. Last month was very quite. The market needs time to adjust to realign buyers
and sellers
• Real Estate - No signs of slowing down. Listings still very tight with many buyers still out there. Expecting
a little slower during winter.
• Real Estate. Buyers are not in a hurry anymore, less buyers now that a couple of months ago, interest
rate would have something to do with this.
• Property investing, and things are looking pretty good for trading properties. Have even bought two buy
and holds in the last 2 months.
• Rental properties full with little vacant time between tenancies. Rents edging up.
• Rental Flats. I’m downsizing and selling. The return on capital just isn’t there, and I can’t see much more
to come in the way of capital gain.
• Residential Real Estate Central Auckland - Many frustrated buyers trying to talk the market down. Sorry
(for their sake) to report that the market is as hot as ever with multiple offers everywhere and still a
shortage of listings for them to look at. Family homes in the $700,000 to $1.3mil bracket very popular
and selling quickly.
• Residential real estate, North Shore listings continue to be hard to get, investors are back in town,
realistically priced properties sell fairly quickly, buyers who hesitate to commit lose out and talk about it,
prices getting stronger. It will be interesting to see if the latest RB increase can stem a tide surging
around 8-10 % per annum and maybe accelerating due to lack of listings. The market has a feeling of
2003 revisited.
• Real estate.........Has slowed in volume and no doubt it will affect the price in time.
• Valuation & Property Consultants - Nelson, market still very buoyant despite interest rate rises. Demand
greater than supply, properties being sold very quickly, some not getting advertised, especially the lower
price bracket up to $350k.
• The real estate market has strengthened as the interest rates have increased. Our office has just had it’s
best Feb/Mar/Apr/May ever and June has started very strong.
• Real estate still more buyers with money and not enough variety of properties to satisfy the need. Still
appears plenty of mortgage money available
• Residential Valuations Most of my work is valuations for refinancing. Volume of work has almost halved
in the last 2 weeks.
• Residential Property Management. Rents for good properties in good areas are still in demand. Older
poorly insulated houses may have to be discounted.
• Real Estate. Far North. A lot more listings coming forward Especially near coastal sections.
Buyers harder to find.
• I am in Real Estate, the current market in our industry is light listings and heavy on buyers. Having
stated the obvious with the latter comment, the buyer market is in the main unable to purchase at the
current market rates, nor are they able to sustain the continually increasing interest rates.
• (Long-term residential property investment) I am finding firm demand from people wanting to rent houses
in provincial towns. As a result, rentals are rising by $20 or more a week every 6 months or so. Leasing
prices for residential property are rising faster in percentage terms than are house prices in percentage
terms. Less houses are being built now than 2-3 years ago so I believe an on-going shortage of houses
to rent is occurring. Prospects for the long-term residential property investor leasing housing look very
bright regarding rental increases.
• Real Estate: Lower South Island: Buoyant. Residential listing shortage. Rural sales strong. Competition
fierce.
• Property management (residential) Rent price resistance evident. More properties available. Owners
expectations of rent increases might not be sustainable. Higher rents ($600+) not moving, probably due
to falling immigration. Increase in requirement from tenants for long term contracts, goes to ownership
difficulties.
• Property valuation is slowing down
• Residential Real Estate. Listings are very hard to come by. Still more buyers than sellers but I would
expect interest rates to bite and affect affordability
• Property Valuation - In the past couple of weeks numbers of enquiries have definitely decreased but
work flow is still steady
• Residential valuation - the residential property market is still buoyant however building costs appear to
be slowing construction activity. Constructions margins are getting smaller as the ceiling of affordability
for the end product falls due to interest rate rises. A correction for some parts of the market is probably
not far away.
• Real Estate Slowed down - even for seasonal adjustments taken into account. Expect interest rates to
increase again this year. Some Property Investors (especially if coming off fixed rates) will lead start to
sell some of their investments as they see property values also don’t have the capital gain in the
foreseeable short term. Market will switch from current sellers market to a buyers market which will drop
prices and effect property values in the short term.
• Rural & Lifestyle sale-South Auckland. Good listings still hard to find. Buyers still ringing. There is a
demand for smaller (2 acre) blocks.
• Property advisory - Still going strong, can not see it slowing down in the short term. All areas of the
property industry are booming.