Investors treading water in housing market
The latest BNZ-REINZ Market Survey suggests first home buyers are active in the market and investors are staying put.
Thursday, July 21st 2011, 12:00AM
by Benn Bathgate
The survey was unable to discern any visible trend on whether investors were becoming more or less active in the market.
"For three months in a row now the number of agents feeling more investors are entering the market has roughly matched the number feeling that there are fewer investors."
The survey found a net 1% of agents felt there were fewer investors in the market, a figure that was in stark contrast to the net 30% that feel there are more first home buyers in the market.
"This is the fourth month in a row during which this result has been positive and the latest result is reasonably well above June's net 19% of agents feeling more first home buyers are around."
In summation the report said the survey results point to evidence in most of the country of more buyers in the residential market, though they tend to be first home buyers rather than investors.
"In most of the large centres prices are perceived to be rising and in those centres buyers are more likely to capitulate to transact than sellers. But there remain some notable areas of weakness outside the main centres."
Benn Bathgate is a business reporter for ASSET and Good Returns, email story ideas to benn@goodreturns.co.nz
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