As New Zealand continues to be in a protective framework known as the Red traffic light system, the country has experienced much higher cases. The new framework provides safety while operating with fewer restrictions, given the vaccination levels across the country.
This month there have been several announcements regarding changes in isolation and the definition of close contacts. The announcements have gone further regarding managed isolation and quarantine facilities with the partial opening of the international borders for Australia and other parts of the world. It is encouraging that there are fewer restrictions; however, remaining safe is a key part of the government’s strategy in managing the current surge in case numbers.
For the real estate market, while there are safety protocols in place, there has been a continuance of open homes and safe property viewings. Sales numbers decreased over the same time last year, and property prices flattened in March to only see a small drop of 0.2 per cent. Asking prices have seen a slight reduction, although a considerable percentage of property submitted to auction may not necessarily vindicate the asking price data.
