Ray White Now New Zealand 29.6.2020 Version 6 - 29 June 2020 - Page 13
Why is there buyer
confidence at the moment?
There are many reasons for the current buyer demand.
The most significant of these reasons relate to finance
and in particular interest rates.
With interest rates at all-time lows and with banks being
supportive of purchasers, we are seeing many buyers
wanting to take advantage of these factors. Obtaining
secure credit on excellent terms while they are available
is certainly influencing demand. This is not only the
case with first home buyers but across all sectors of the
Fortunately, we continue to see confidence in buyers with
job security working in industries not materially impacted
by the current economic environment.
Ray White auctioneer Tim McGoldrick in-rooms at Ray White Metro
where four properties successfully sold under the hammer.
In any market environment, there remains a significant
number of buyers who are looking at buying and selling
within the same market. When you consider this, market
conditions generally don’t weigh in as much on the
decision for those looking to upsize, downsize or relocate.
If there are future risks in the market, why should
buyers enter the market now?
For buyers, to try and ‘game the system’ and wait to pick
the bottom, it’s a difficult game to play. Things can move
against you, and you risk being able to get the thing you
really want, especially if it’s a family home. Longer-term,
there seems to be broad agreement that New Zealand’s
fundamentals will remain strong. Property investment has,
and will always be a long term investment.
Ray White Whangarei salesperson Rae Dennison applying a sold sticker
on 362 Ngunguru Ford Road in Kiripaka.
If finance continues to be provided on the current terms,
and we have no reason to see why not, the purchasing
power of buyers is expected to remain strong and be the
main driver of buyer confidence.
Ray White Full Circle salespeople Sid Charoenpornsavat and
Deepak Gangar attracted six offers in the first three days of
30 Cornwall Street, Christchurch of being on the market.