ASK ME ANYTHING: REINZ chief executive Colleen Milne
A slowdown in Auckland since October 1? Where's the smart money heading? The Real Estate Institute of NZ boss answers your questions NBR Radio and on-demand on MyNBR Radio.
Click the NBR Radio box to hear her answers via MyNBR Radio on-demand audio or our free stream on iHeart Radio.
The property market is hot, crazy and being poked and prodded by politicians.
Last month there were anecdote-based news reports of Chinese fleeing, and stalling auctions (sound familiar?), only for the Real Estate Institute of NZ (REINZ) to ultimately report increased volume and higher sale prices in Auckland and nationwide (luckily for NBR's — cough — anecdote-based report on two $1 million bungalows selling for $2 million each).
What does it all mean? What's actually happening and where's it heading?
How will the changes that kicked in October 1 (and those on the way on November 1 and mid-way through 2016) affect the market?
Real Estate Institute of NZ chief executive Colleen Milne is next up in the AMA chair.
On the November 1 tighter rules for investors, particularly in Auckland, Ms Milne says "We've already seen investors moving from Auckland; not all of them, obviously but we've been watching investors moving to Northland; we're seeing them moving to Waikato. For example, Northland sales volume is up around 69% and days-on-the-market has dropped 20 days just in the past month. Waikato/Hamilton sales volume is up 85%. There's strong evidence investors, first-home buyers and even retirees are moving from Auckland."
To hear all of the REINZ boss's replies, click the NBR Radio box to hear her answers via MyNBR Radio on-demand audio or our free stream on iHeart Radio.
See previous installments of Ask Me Anything by clicking the AMA tab on our menu bar, or bookmarking www.nbr.co.nz/ask-me-anything.
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ASK ME ANYTHING: REINZ chief executive Colleen Milne
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