Despite news of the market flattening out, NZ residential property market remains upbeat with 41% investor confidence rate.
• Acc. to Colliers Int’l survey, investor confidence in NZ’s property market remains positive – gaining an overall confidence of 41% in the residential property market & 24% in commercial.
• The research also reveals a tale of 2 post-quake cities, with investors remaining optimistic about the Wellington market and more negative about Christchurch.
• Wellington has gained an overall 29% confidence rate despite November’s 7.8m quake, up from 22% in Q4 2016, w/ 51% in residential market & 39% in commercial.
• On the contrary, Christchurch’s confidence rate dropped to -2% in commercial market & 0% in residential due to RBNZ’s cooling measures, yet prices & volumes remain steady & strong.
• Meanwhile, Queenstown is leading the country’s residential & commercial markets for investor confidence with 74% & 67% rates respectively, followed by Hamilton & Bay of Plenty.
• Queenstown has been leading the way for some time now due to the solid growth that is characterising every aspect of the region and its property market right now.
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