GAME CHANGER HITS MARKET
It’s been a rollercoaster of a month. As the Covid-19 pandemic has swept across the world, Government responses to the developments have come thick and fast. And, in tandem, the economy has taken a significant downfall. The situation has not unravelled as quickly in the world of residential property though.
In fact, the periodic release of the latest housing market data throughout the month stood in stark contrast to the dire situation elsewhere. That’s because it shows the national market was rebounding, with exuberance, from the quieter times seen last year. Even Auckland’s market, long in the doldrums, was on the rise.
The data was a bright spot in the economic gloom. But Covid-19 means the game has changed, and the future of the market is a little more uncertain now. Most commentators are not expecting a crash, but they do say quieter times lie ahead.
