Real estate companies expecting increased sales as restrictions ease

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Auckland – Real estate agents are expecting a flurry of activity, with viewings under tight restrictions resuming today.

House prices have been tipped to fall by up to 10 per cent, meaning good news for first home buyers.

Property viewings will be a little different during the Covid-19 pandemic though.

Settlements on properties stopped in Alert Level Four, leaving around 6000 home owners waiting for lockdown to lift.

Real estate firm Barfoot and Thompson says March was its best month in Auckland in three years, with over 1000 properties sold.

While the impact on the market won’t be known for some time, economist Cameron Bagrie has a big prediction.

“Migration inflows will be limited, so that supply demand and balance that we’ve talked about housing shortage, I don’t think that’s going to be too much of a problem going forward.”