It's a seller's market: Survey
With investors returning to the market and more first-time buyers looking for homes, the shortage of listings is igniting competition for available properties.
It comes on the back of several reports that say low interest rates and global economic turmoil are spurring people into property investment.
BNZ chief economist Tony Alexander said it did not come as a surprise. “I’ve just been at Fieldays the past few days and had people coming up to me saying ‘I’ve saved this much for my retirement, where am I going to put it?’”
He said the prospect of low interest rates for the next few years meant investors would go in search of better yields. “There will be a wave of investors hitting the market.”
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