The last 2 years has seen the topic of real estate across the country in the forefront of news media and conversation constantly, whether that be ever increasing property values or changing legislation surrounding rental properties. With so many varying perspectives from commentators around market trends, it is becoming hard to understand the dynamics of the market. Without a doubt covid in 2019 and the subsequent cash injection into the economy not only in New Zealand but world wide has helped fuel our appetite in owning properties. This is especially so for investment buyers and couple this with interest rates being at an all time low has added fuel to the market. This has lead to a high number of first home buyers being locked out of the market and more so in the major cities but this has still been very evident here in Wanganui. The government in conjunction with the reserve bank have implemented lending restrictions along with the removal of tax incentives on investment buyers which has slowed down their desire to invest in property. It will now remain to be seen what the effect in the longer term this will have on property values and the availability of rental properties. I suspect that we will see some fall out in the foreseeable future, but in the present market with still a high volume of New Zealand citizens coming home and few leaving our boarders housing will be at a premium which will keep our property values at this all time high for a period yet. In the mean time now is as good as any to sell your property and if you are buying on the same market then the difference will remain the same no matter what happens to property prices.
