WHAT LIES AHEAD?
No one could have predicted what 2020 would hold for the world and how different an outlook we would have just a year later. We saw the global outbreak of Covid-19 and the unprecedented move of countries around the world going into lockdown. On March 25 we went into our own level four lockdown and predictions for the future of the economy and the housing market were dire.
Amid the pandemic there were many changes to tenancies, starting with a pandemic-induced rent freeze which ended in September. Other regulatory changes came in the form of the implementation of the Healthy Homes standards and amendments to the Residential Tenancies Act. However, as expat New Zealanders flocked home few were convinced to exit the booming market, and the prices started to climb.
Less than a year later and the economic outlook for New Zealand is markedly different. It’s far more positive than expected on the back of a strong labour market, and we’ve experienced an upward trend in property values with record-breaking sales prices recorded across the country.
To get an understanding of whether we can expect
