Real estate market showing positive signs: Survey

The latest glimmer of hope for the market comes from BNZ’s first monthly survey readers this year. The survey, which had around 16,000 responses, showed an overall deterioration in sentiment from the previous survey in December.

A net 23% of respondents expect the economy to get worse over the coming year from 6% three months ago.

BNZ economist Tony Alexander says businesses generally are facing cash flow constraints and are trimming expenses in expectation of tough conditions continuing.
While most sectors remained weak there was one very clear change in this month’s survey compared to last year’s ones.

He says that is in residential real estate.