MARKET, INTERRUPTED
Speculation on the future of the property market abounds but no-one is sure of what lies ahead. Commentators have started to produce tentative outlooks and, while none make for cheery reading, some are much bleaker than others.
To date, the data doesn’t provide conclusive signals, although the impact of the lockdown period is evident on sales. Nonetheless, it seems likely that the economic impact of the Covid-19 crisis will derail the momentum of the market this year.
Right now though, New Zealand is getting used to life at alert level two. It’s seen real estate and lending activity pick up again and it’s also ramped up discussion of how the market might be set to fare.
LOCKDOWN SALES FALLOUT
It is no surprise that the standout feature of April’s market data was the massive nationwide drop in residential property sales. That drop was because the country was in lockdown which meant real estate
