Market cooling: BNZ/REINZ survey
More agents say they are seeing fewer people at open homes but there has been a rise in the number who feel buyers are more motivated than sellers.
“Overall the housing real estate market is showing some signs of flattening out but on the face of it this could reflect buyers needing to adjust their price settings rather than failing to show interest at all," the report said.
A net 13% of agents responding this month said that they were seeing fewer people going through open homes. This is the weakest result on record and a sharp turnaround from a net 30% positive in November.
The report said: “The change of -43% is also far greater than the drop-off in December last year of 20% and on the face of it suggests that buyers have backed away quite sharply from the market. However, given the suddenness of the change we need to make special effort to see if any of the other indicators we track show signs also of a decline in buyer interest. The answer is some do but not to the same degree, and some don’t.”
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