Residential real estate is reporting a better matching of buyers and sellers in the last month and there are reports of an upturn in residential construction according to the BNZ Confidence Survey.
BNZ chief economist Tony Alexander says residential real estate appears to be variable with a bit more balance between buyers and sellers.
Many residential builders report being booked up and busy, although there was a comment that many people are altering rather than building from scratch.
Exclusive Residential Construction made a comment saying it has had an increase of 500% on new leads for projects to tender compared to six months ago and a quantity estimator reports turn over up 58% on the same period last year.
The BNZ survey also noted a small decline in confidence about the economy with 43% of the 536 respondents optimistic, down from 50% in October, which is still high by historical standards.
Alexander says this optimism will largely be a "sigh of relief factor" that a Depression has been avoided rather than a sign of confidence about the economy.
The following are some comments made to the BNZ confidence survey about residential real estate:
Real Estate - Residential
Source: Landlords.co.nzcomments powered by Disqus