Tauranga Property Investors' Association
Our quarterly BNZ Confidence Survey of 14,000 Weekly Overview recipients elicited over 570 responses this time around, the vast majority of which were positive.
Respondents report difficulties sourcing staff, but little upward pressure on costs or selling prices outside of construction. That sector is growing very strongly benefitting a wide range of businesses all over the country. Demand for commercial property space is strong with falling vacancies and yields, while in residential real estate listings shortages continue near everywhere.
The strengthened loan to valuation requirements (40% minimum deposit for investors) are having an impact but some investors are pooling resources and sourcing second tier financing to get around the rule. Rents are slowly rising and tenant demand is firm. In farming dairying remains weak but with feelings that the worst has passed. Horticulture is strong as is tourism where capacity issues are becoming more important. Read the full report here