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Private property viewings allowed under level three

The property market has received a boost after Housing Minister Megan Woods confirmed that private viewings will be allowed under alert level three.

Thursday, April 23rd 2020, 7:37AM

Prospective home buyers and rental tenants can view homes under level three, Bindi Norwell, chief executive of the Real Estate Institute of New Zealand, confirmed.

Private viewings by appointment can resume once alert level three comes into effect on Tuesday. 

The government's decision will allow buyers to complete pre-purchase inspections and will help landlords fill vacant properties after a month of inactivity.

Open homes remain off-limits, however.

The government is working through the details of how viewings will work under level three, with social distancing and safety measures to be implemented amid the covid-19 outbreak. 

REINZ's Norwell (pictured), welcomed the decision to allow viewings.

She said: “We’re delighted to receive the news that private viewings can take place under alert level three, and we look forward to receiving the further details we need over the coming days in order to make this happen. We are also pleased that the government has listened to industry feedback.

“This means that the thousands of people around the country who have been in limbo over the past few weeks can now move forward with their property transactions."

Norwell said the government decision was a "big relief", and would help buyers who have been unable to conduct pre-settlement inspections, and buyers left in limbo "paying hundreds of thousands of dollars in bridging finance each week". 

The government is yet to give guidance on what the real estate market will look like at alert level two, which is expected to come into effect two weeks after level three.

Tags: Covid-19 REINZ

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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 5.50 - - -
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 3.35 3.85 -
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 2.55 2.65 2.79
Kainga Ora 4.43 3.29 3.39 3.85
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 3.45 ▼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 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.65 3.69 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.10 3.19 3.12

Last updated: 7 August 2020 5:51pm

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