Let’s face it the housing market was out of control in NZ so the Government had to step in and do something – didn’t they? Turns out NZ is really not a lot different from a lot of other countries at the moment. House prices across the ditch are going through the roof. Even Canada reported a 39% sales increase on a year ago. The evidence around booming Worldwide property sales points to the same or similar reasons as here in NZ – lack of supply, low interest rates, limited travel due to Covid and of course FOMO – buyers’ Fear Of Missing Out.
Is the NZ Housing market really out of control? National Propertyscouts
According to the Government it is.