Market news (a quick summary of recent articles):

Tony Alexander’s (economist) recent comments on the interest rate increases: “Do I think the interest rate rises will be enough to cause new weakness in the housing market?

Only to a minor …

Trends we are noticing are:

• Buyers are concerned about the rising interest rates
• Sales activity is down and properties are staying on the market longer
• Owner occupiers remain a strong buyer pool

“As the market stabilises, agents report the majority …

Trends we are noticing are:

• Demand remains dampened due to mortgage rates and continued affordability concerns
• Vendors are increasingly realistic with their asking prices
• First home buyers are returning to the market

“That said, some real estate agents are reporting …

Trends we are noticing are:

• Hesitancy amongst buyers due to higher mortgage cost and concerns over inflation
• Market activity and prices have eased to moderate pace
• First home buyers are beginning to return to the market

“Real estate markets are …

Trends we are noticing are:

• Hesitancy amongst buyers due to higher mortgage cost and concerns over inflation
• The market has slowed down to moderate pace
• More negotiation happening

“Canterbury was the region with the strongest annual percentage growth in June. …

Trends we are noticing are:

• Median days to sell has increased again to 43 days from last month’s 38 days.
• The price growth of last year is receding
• Tightening of lending criteria and rate increase has further slowed the activity