A DIFFERENT TYPE OF DEMAND
Part of the explanation for this lies in the changing nature of the market itself.
“ The extraordinary conditions that characterised the postpandemic period were largely driven by financial factors: historically low interest rates, abundant liquidity, and expectations of future capital growth. Those forces amplified activity, but they also made the market highly sensitive to shifts in sentiment.”
“ A greater share of current activity is being driven by longterm decision-makers( first-home buyers, families, movers) rather than short-term market expectations. Employment opportunities, family needs, schooling, retirement planning and lifestyle preferences generate housing demand regardless of the economic cycle.”
That demand may be more deliberate and focused than it was several years ago, but it remains remarkably persistent. The result is a market that appears to be operating with greater discipline and greater stability.
Today’ s market is different, Coulson says.
Source: Ray White New Zealand
RAY WHITE NOW NEW ZEALAND | 7