2 Jan 2019

Stronger prospects for housing market

4:20 pm on 2 January 2019

This year is likely to be stronger for the real estate market than some earlier predictions.

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Photo: Composite

National manager of Century 21 real estate, Ryan Mitchell, said relaxed restrictions on lending criteria, low interest rates, and housing shortages in Auckland would keep New Zealand's housing market increasing in value.

He said, although some parts of the Auckland market had slowed, many suburbs on the fringes of the super city had seen significant growth.

Auckland's fast-growing population means demand will continue to outstrip the houses available.

Housing in Waikato, Central North Island, Manawatu and Kapiti all gained value strongly last year, and he expected those areas to also grow well this year.

Ryan Michell said it may not be a stand-out year for the housing market, but all signs were good.

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