We’ve talked in previous newsletters about what we see as the contributing factors to our heated property market– expats returning to NZ because of COVID, low interest rates etc. but it’s becoming increasingly evident that FOMO is playing a role as well. We read recently that there are 30% less properties being advertised for sale in NZ at present than at the same time last year, so hearing those sorts of stats is definitely going to contribute to investors FOMO. And you don’t have to be a property statistician to be suffering from a touch of FOMO because let’s face it – like any good pet story our media commentators are fixated with the ‘easy pickings’ commentary on the NZ property market presents. And if you didn’t know it or haven’t worked it out already – FOMO means Fear of Missing Out.
FOMO National Propertyscouts
If you happen to have visited an open home recently then you’ll know that our property markets running hot because dollars to doughnuts yours weren’t the only pair of shoes sitting on the front door porch