Under Level 3, buyers will “at least be able to view properties in person,” he says
The country’s housing market will likely experience “pent-up demand” during the Level 3 lockdown, according to the owner of Century 21 New Zealand.
Tim Kearins said that Century 21’s website had received significant traffic during the Level 4 lockdown over the past fortnight.
But with most of the country set to go into Level 3, Kearins said his agents south of Auckland “are anticipating they’ll see quite a bit of pent-up demand.”
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Under Level 3, while auctions can only take place through a teleconference or over a phone, property viewings and appraisals are permissible by private appointment with certain restrictions.
“Our agents have been fielding plenty of enquiries about listings and giving virtual appraisals via video calls,” said Kearins. “However, Level 3 will be when many buyers feel more comfortable to make decisions. Although it will take an appointment, with strict protocols in place, buyers will at least be able to view properties in person. That will make a real difference to seeing more transactions inked.”
Overall, Kearin believes it is a good time to market properties given low interest rates and low listing competition.
“Real estate under Level 3 is very doable and so we’re expecting a busy time. This spring could be the sweet spot for those selling with demand still high but supply incredibly low. With these dynamics, I wouldn’t be waiting until summer to sell. I’d be listing right now,” Kearins said.
