News out this week has seen Reserve Bank Governor Adrian Orr warning that the Central Bank is “looking at”the prospect of re-introducing loan to value ratio (LVR) limits on bank mortgage lending.

We are continuing to see supply not keeping pace with demand created from buyers, particularly those in the first home buyer category and increasingly investors coming into the market

Buyers behaviour remains constant with their journey starting out by looking at property online.

There is a lot of information readily available to buyers through online research which they assess and develop a perceived market value estimate, creating a “ceiling” price.

Creating competition is the best way to achieve an exceptional result for your property. Our aim is to achieve a figure which we are happy to present to our sellers and a figure that reflects the buyers competing for the property.

Despite these indicators having a positive influence on the market in the short term, those considering selling should remain cognisant of the potential influences in the economy and the residential market into next year.

Buyers having the maximum financial capacity to purchase a property is one of the key leading indicators when it comes to buyer confidence.

For Ray White last week, while there has still been a tail of virtual auctions, the majority of the areas have now moved their auctions back into rooms or on-site with safe practices, social distancing and requirements for contact tracing and registering.

Interest rates continue to be a key driver of the confidence for those buying property. Affordability is allowing more first home buyers also to consider purchasing property.

The government will tighten Auckland to Alert Level 2 with a 10-person limit on gatherings, while the rest of the country stays at the current Level 2, real estate activity to continue via virtual auctions, controlled open homes, and safe distancing.