One of the most surprising developments in New Zealand’s economy this year is not where activity has weakened, but where it has endured, says Ray White New Zealand Chief
Executive, Daniel Coulson.
Consumer spending has slowed, business confidence remains subdued, construction activity is contracting, and financial markets have rapidly shifted from discussing lower interest rates to preparing for higher ones.
Through that lens, residential property has proven unexpectedly resilient.
While the wider economy has struggled to generate lasting momentum, buyers and sellers have continued to engage with the housing market at a level that many economists wouldn’t have predicted six months ago.
Understanding why matters – particularly for homeowners considering whether now is the right time to bring a property to market