Young buyers lured by low interest rates are competing for homes in Christchurch amid a supply strangled by the Covid-19 lockdown. Mortgage broker Rob Parsons of Mortgage First said while he had expected pent-up demand, he thought the forecast economic downturn might dampen buyers' enthusiasm. RNZ A new report about the property market suggests New Zealanders are continuing their love affair with houses. "You'd think if people believe property prices will drop, why would you buy this month? Its figures show Christchurch asking prices have risen for smaller and cheaper homes, but dropped for larger homes.

Source: Stuff June 02, 2020 17:01 UTC