Survey: Residential Real Estate Market Starts Year Firmly

Thursday, 14 February 2013, 3:30 pm
Article: Tony Alexander Market Reports

Residential Real Estate Market Starts The Year Firmly

Welcome to the results of the first BNZ-REINZ Residential Market Survey for 2013.

In our first BNZ-REINZ Residential Market Survey for 2013 we have found strength across all our indicators from attendance at Open Homes to auction clearance rates, and interest from first home buyers and investors. Prices are strongly seen as rising and agents view the market as being a sellers one. This month for the first time we have introduced a question regarding whether foreigners appear to be more or less active in the market. While not revealing the actual level of their presence the results do show that in aggregate there has been no rise in foreign buying activity compared with a month ago. With regard to where such buyers largely come from the top country is the United Kingdom with 27% of agents noting this, followed by China at 24%, then Australia 22%. In Auckland however Chinese buyers are seen as prevalent among foreigners by 45% of agents responding. It will be interesting to track these results over time.

Click here to read: REINZ_Survey_February_2013.pdf

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