Tony Alexander ‘Weekly Overview 21st April 2016
Strong in the regions and now again also in Auckland. Deeper credit controls to come. More Chinese
buying likely as the Beijing leaders have opted to stimulate growth through increased infrastructure
spending and looser credit conditions – kicking the can of an economic/financial correction further down
the road again just as Europe has been doing. The improved growth (though it was just 1.1% during the
March quarter) increases the chances that restrictions on capital outflows will be eased later this year.
Combine that eventual easing with
buyers getting to grips with the IRD number requirements,
banks across the Tasman cutting lending to offshore buyers, and
rules affecting foreign buyers of residential property in Australia being tightened and applied
means we are likely to see some previously Aussie-bound buyers shift our way instead as we become one
of the few residential markets left around the world completely open to foreign buyers.