At present the unbelievably low levels of homes for sale are the hot topic of conversation not only for us in the business (real estate agents, lawyers, insurers, bankers, mortgage brokers to name a few) but home owners and purchasers as well WHY……?????
Best educated guess….
The traditional drivers of a buoyant real estate real estate market are usually
All these “drivers” exist and have for some time and the situation looks set to continue for the short term (3 years)
I believe home owners are in the enviable position of being COMFORTABLE but still remember the 07-08 crash that resulted in hardship for many. The alleviation of hardship has taken 8 – 10 years but in response to that house prices have gone up generally across the country.
Along side that the Government and Regional Councils and Banks have been under fire for
As this information has been “pounded” into everyones psyche over a number of years, owners of homes have I believe become more RISK ADVERSE and are enjoying
They are under no pressure to sell therefore only move when they find a better option, selling and buying on the same market is relatively risk free.
In my opinion the law makers should –
Kiwis understand this type of tangible investment rather than the share market, finance company and the like.
So there it is, my opinion on WHY the real estate scene is what it is at the moment, interesting to say the least!