New year, new property perspectives

New Zealanders are back behind desks – with one eye on the next long weekend, and the other on what 2016 will bring for them over the course of the year.

The question of how the residential property market will unfold this year is also coming into focus.

Many property owners and investors may still be catching their breath after the residential property market sprint through the first three-quarters of 2015, while others will be revising their positions for 2016.

Though the market temperament has cooled somewhat, buying a new home, or adding to the residential investment portfolio will remain a priority for many Kiwis, and the Bayleys sales teams are ready to meet this demand.

Bayleys is forecasting a much more subdued period of capital growth over 2016. The big ‘what ifs’ which will decide just how much that capital growth will be are the return of investors to the market, the continuation of the Auckland ripple effect with big city dwellers buying up in the provincial cities, and how quickly offshore buyers get to grips with changes to legislative requirements regarding their personal banking and IRD details.

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