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This week we kick off by unravelling the latest data from CoreLogic's May 2021 chart pack. From the significance of the first annual increase in sales volumes to the importance of understanding the bigger picture behind the numbers, this episode is packed with valuable insights!
We also delve into the drivers of the New Zealand property market and examine the recent increase in sales volumes, all while acknowledging that this growth is still low compared to long-term averages. Kelvin helps us comprehend the context beyond just the numbers, including the strength of the economy, current listing levels, and demand for property. We also discuss why we shouldn't necessarily expect a strong upturn anytime soon and how the market's growth is expected to be low and slow.
Lastly, we shed light on the rental market in New Zealand, with a particular focus on the Otago region and Queenstown, where the flow of rental listings is running 15% below normal. Kelvin walks us through the supply and demand dynamics due to high net migration and the potential rent increases we could see as a result. Learn about the importance of keeping good tenants (and a good landlord!).
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