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Investor activity muted nationwide, large variations across regions

Nationwide real estate agents have reported little evidence investors are looking to buy in the current market – though investors are buying in some locations.

Thursday, September 8th 2011, 12:00AM

by The Landlord

The latest BNZ-REINZ survey of real estate agents found that while the number of agents reporting increased investor interest stood at a net positive 6% - from negative 9% in August – “at 6% the result is still low.”

“There is little serious evidence that more investors are looking to buy in the current market,” the survey said.

In contrast, the number of agents reporting an increase in first time buyers has been in positive territory for all six months of the survey and hit a record high of a net 37% of agents seeing more first home buyer activity this month.

Over the last two months the survey has also found a slight downward trend in the number of agents that cited investing as the main reason people are buying property, from 0.5% a month ago to 0.4%.

The contrast in investor activity across regions was also highlighted in the survey as agents reported on investor buying activity across the country.

Otago Lakes/Other Mount Maunganui had by far the highest amount of investor activity, with a net 40% of agents reporting investors buying.

Canterbury/Westland and Other West Coast/Queenstown was second with a net 30.8% of agents reporting investors buying.

Other regions with agents reporting significant investor buying activity included Hutt Valley (38.5%), Waikato Country (25%), Dunedin City and Waitakere City (23.1%) and Auckland City (20.7%).

The lowest areas of investor activity included Kapiti Coast (-33.3%), Christchurch City (-29.5%), Whangarei/Northland (-21.7%) and Tauranga (-15.4%).

All of the eight measures the survey uses to examine the current state of the property market strengthened over the past month, indicating “slowly but surely on average things are shifting to a sellers market.”

“This month’s survey results show a market increasingly driven by first home buyers, power slowly shifting toward vendors and perhaps a surge in the number of potential vendors looking to take advantage of this situation by placing their properties on the market.”

 

 

 

 

« Some valuers are scaremongering about panel system: PropertyIQResidential building activity near to 20-year low »

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Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 3.85 3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 3.05 3.19 3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.55 2.69 2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.15 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.00 3.13 3.02

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