Looking back, it has been a turbulent year for the world. Politically, financially, economically and even culturally, 2018 has witnessed some extraordinary events, resulting in a world that feels quite different than it did this time last year. Farcical as some of these situations appear to be, they continue to have an ongoing impact on how we live our lives in New Zealand.
Top of this list has to be Trump and Brexit, whose on-going and ever incredulous scripts send regular ripples of disquiet and apprehension through all levels of our society… and commerce. Add to this a raft of new legislation, headed principally by the OIO (Overseas Investment Office) and the AML (Anti Money Laundering) and you’d think you would have a prefect storm of events that would send the real estate market into a tailspin.
However, despite all this doom and gloom and uncertainty, buyer demand has remained relatively strong in the suburbs we operate in, with slight increases in sales numbers over the past year. Sure, sales prices have taken a few body blows, but the positive news is they have firmly held their ground in most areas.
All things considered, 2018 has not turned out to be as a bad a year as many predicted. The market is certainly not booming, but in the same breath, it has not taken the dive that some of our Australian counterparts across the Tasman have experienced. Record low interest rates look to be with us for the foreseeable future, and there’s no sign of demand for good homes in the city fringe suburbs abating, both of which bode well for the real estate market in our neck of the woods for 2019.