Tony Alexander Survey Report January 2023

Key points of interest from this month’s survey

• There are signs that the initial surge in concerns about rising interest rates and recession have backed off slightly.
• Borrowers are showing an increased preference for fixing one year over all other terms.
• Concerns about house prices falling have pulled back after a “shock” jump in December following the Reserve Bank’s policy tightening and warning of recession.
• For the first time since June a net positive proportion of investors have reported that it is easy to find good tenants.
• Investor interest in purchasing a new-build continues to trend downward. This is another data point backing up clear signs that residential construction levels around New Zealand have the potential to fall away strongly over 2023-2025.

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