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Despite the economic slowdown Covid-19 restrictions caused around the globe in 2020, New Zealand avoided getting stuck in an economic rut, and swiftly got out of a recession.
Contrary to popular opinion, the rental market is actually a tenant’s market, according to new data from Trade Me Property.
Immigration, lower interest rates and a shortage of property for sale all equal a buoyant busy market.
New Zealand at present has two different economies and two different real estate markets.
The new government I believe, are looking to make housing New Zealand tenants more accountable – as up until now there has been a lifestyle of dependency with many tenants abusing the system.
You will all agree it’s great to see the days getting longer. Roll on summer.
Many regions of New Zealand are experiencing a shortage of quality properties on the market for sale.
Are you currently away from NZ?
The LVR has certainly had an effect on the market predominantly out of the hot spots - Auckland and Christchurch.
LJ Hooker General Manager Keith Niederer says “We have seen some investors cashing up one or two of their portfolio capitalizing on the recent capital gain predominantly in the Cities rather than the regions.