Real estate confidence up: BNZ

BNZ has released the results of its latest BNZ Confidence Survey, which found a small lift in optimism about where the economy will be in a year’s time for the fourth month in a row.

Real estate agents, non-residential and residential, were among the more optimistic, although one commercial agent in Wellington said massive amounts of money that would otherwise have been used to purchase property was being spent on strengthening buildings – and another said large increases in natural disaster premiums were crippling.

One real estate agent in Southland said buyers were purchasing holiday homes again without needing finance.  Others complained about a lack of supply. “My area, Glenfield, has 97 listings. This time last year, there were 200.”