Investors less keen to buy Crockers
For the first time this year, Crockers' latest Property Investment Index survey found that more people were planning to reduce the size of their residential property investment portfolios than increase it.
Intentions to invest in commercial property also dropped, to a 12-month low of 9%.
Among those who were looking to invest, non-apartment residential property increased in appeal, while apartments outside the CBD held steady and CBD units dropped in favour.
The Crockers research showed that people buying Auckland apartments seemed to be seeking those that fell in the middle of the price range. Since 2009, the number of sales of apartments in the $150,000 to $249,000 price bracket has increased, at the expense of both more and less expensive apartments.
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