I’ve just released the results of my latest survey and the numbers are not much changed from where they were at the end of June. Buyers remain in the shadows and prices are falling all around the country.
Between recent legislative and bank policy changes, and the increasing likelihood of a recession, it looks like we should be hunkering down for a period of pretty significant uncertainty. So, how can property investors protect themselves in the current environment?
Caution is advised for property investors, as New Zealand starts to feel the impact of recent legislative and bank policy changes.
Lenders to consumers are having to take into account all potential changes in an applicant’s income and that is hitting people intending to take maternity/paternity leave along with those approaching retirement.
We now have data in hand showing that after an obvious collapse in real estate activity from late-March through to early-May, sales have since rebounded.
Property isn’t as liquid as you might think. Just try selling an investment apartment in this market, especially one under 50sqm.