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What levels 2 and 3 mean for the market

Auckland has been put into alert level three following the latest community outbreak of Covid-19, while the rest of the country goes into level two. Here's what it means for the property market.

Monday, February 15th 2021, 8:47AM

The rules will be enforced for three days as authorities attempt to uncover the origin and extent of the outbreak in South Auckland.

Based on guidance issued last year by the Real Estate Authority, here's what can still happen at alert level three (Auckland).

  • Moving house is permitted at alert level three – including to and from a region that is at alert level one or alert level two. If you will be crossing into a region at a different alert level, you should bring documents to support your reason for travel, if possible.
  • Property inspectors, valuers, engineers and tradespeople can visit properties at alert level three, if they comply with public health and industry-specific guidance and if the property’s occupants agree.
  • Visits to a property are limited to a total of two visits per property per day, whether from prospective buyers or professionals.
  • In the case of visits that are private viewings, there should be no more than two prospective buyers from the same extended bubble and the agent at the viewing.

According to Tenancy Services, routine inspections are not permitted under alert level three, unless it is an "emergency situation".

Based on last year's guidance, The Real Estate Authority says the following steps need to be taken at alert level two (outside of Auckland).

  • People can move house, including to and from a region in alert level three. Documents are required to support clients' reason for travel. 
  • People can hold open homes, private viewings and auctions at alert level two for potential buyers from within their region, or from another region at alert level one or alert level two.
  • Requirements for gatherings, hygiene, physical distancing, wearing a face covering and contact tracing must be followed.
  • Property inspectors, valuers, engineers and tradespeople can visit properties at any time during alert level two, with the consent of the property occupants.

Tags: Covid-19 lockdown

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▼2.29 ▼2.59 ▼2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 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 Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.79 2.99 2.80

Last updated: 4 March 2021 8:47am

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