Key Facts:

  • The Auckland property market is expected to pick up in the coming months due to the easing of COVID-19 restrictions and ongoing low interest rates.
  • The median house price in Auckland reached a record high of $1.1 million in July 2021, fueled by strong demand and limited supply.
  • Sellers have been holding back their listings, waiting for the spring surge to maximize their potential returns.
  • Real estate agents are anticipating a busy spring season with strong buyer demand and increased market activity.
  • The Reserve Bank of New Zealand’s decision to delay the reintroduction of loan-to-value ratio (LVR) restrictions has also contributed to the optimism in the property market.

Article Summary:

The Auckland property market is set to heat up in the coming months as the real estate industry gears up for the traditional spring surge. Despite the challenges posed by the COVID-19 pandemic, the market has remained resilient, supported by low interest rates and strong buyer demand. In July 2021, Auckland’s median house price reached a record high of $1.1 million. However, sellers have been holding back their listings, waiting for the spring season to maximize their potential returns.

Real estate agents are confident that the market will see increased activity in the coming weeks, predicting a busy spring with a strong influx of buyers. The Reserve Bank of New Zealand’s decision to postpone the reintroduction of loan-to-value ratio (LVR) restrictions has also contributed to the optimism in the property market.

Buyers who have been waiting for the right time to enter the market may face increased competition and potential price escalation as the market picks up. It is advised to seek professional advice and conduct thorough research before making any property purchase decisions.

To read the full article, go to:

https://www.nzherald.co.nz/nz/auckland-house-prices-property-market-turning-in-time-for-the-spring-surge/LWZBYPJYORCMZP7YOAZYPRJ6V4/