REINZ Market Confidence Report June 2020

REAL ESTATE MARKET STARTING TO SHOW SIGNS OF CONFIDENCE POST-COVID

This month (May) there have been some green shoots of confidence starting to show as sales volumes, listings, sales by auction and sales price to valuation ratio all saw an uplift during the month.

Median price is as we expected – up (significantly) in some places, flat in others and down in other regions. New Zealand isn’t just one market, so we expect this volatility to continue – particularly in areas that are heavily reliant on tourism and with no signs on the horizon that the borders will be opening for international holiday makers any time soon. With more expats coming home we expect the top end of the market to hold up for now, but time will tell what impact this has on pricing overall.

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