Looking into the rental market
The NZ Property Market Podcast
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Trade Up Premium: How Much Does It Hurt the Market Turnover?
If April's number continued then yeah I think you'd have to start thinking extended recessions. The trade up premium essentially the difference in cost between say a three bedroom property and a four bedroom property is still quite large but has come down pretty much everywhere. There's probably been a few movers as we call them or relocating owner occupiers who have just set still just done nothing for a while so it might be one of the reasons we can get from this data. We're seeing an increase in those that have been downsizing with more people being refixed when they've had bitten off more than they can chew.
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