UNCERTAIN TIMES AHEAD
New Zealand may be heading out of its extreme Covid-19 prompted lockdown, but uncertainty is set to plague the housing market throughout 2020. There’s some grim predictions of what might come economically and, as you’d expect, there’s also speculation that the housing market will follow a similar path.
As with the economic forecasts, there’s a broad range of opinions on how badly the market will be affected by the recession the country has moved into. These are unusual times so no-one can be too conclusive. And that makes for uncertainty. But there’s also some common themes that have emerged from all the talk. And they provide some hope.
MARKET SNAPSHOT AT LOCKDOWN
Given the lockdown began towards the end of March, the latest data releases serve to provide a picture of the market in March. That means it essentially establishes a baseline for the way the market was on entering lockdown.
As such, it shows the
