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 market. 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. 13