First-home buyers missing out: Survey
BNZ chief economist Tony Alexander said all the measures used to gauge the strength of the property market had improved compared to the last survey, conducted in December.
A net 5% of agents now think it is a seller’s market, compared with a net 16% in November who thought it was a buyer’s market. A reading of 0% would indicate that agents were evenly split in their opinions on whom the market favoured.
The net percentage of agents reporting fewer first-home buyers in the market dropped in January from the near 80% readings in November and December. But still a net 40% were seeing first-home buyers forced out of the running.
But the number of agents seeing more investors has jumped to a net 21%, well above the three-year average of 16%.
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