Investor interest has returned to the Auckland property market according to a new survey by property management company Crockers.
A monthly survey found that the percentage of investors looking to reduce the size of their holdings had declined dramatically whilst the number seeking to increase their portfolios increased.
26% of respondents said they were looking to increase their property holdings compared to only 7% who were looking to divest.
The numbers suggest a bounce back in confidence since the new government was formed in October.
Results for the survey in November showed less than 20% of respondents were looking to increase their holdings and nearly 20% were looking to divest.
40% of respondents now expect the rental property market to deliver “better” returns over the next 12 months. That’s up from about 20% feeling confident post election.
5% thought the market would get worse, down from 10% post the election.
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