Login
iscover
New Zealand’s government has further clarified the real estate activities that will become legal under looser level 3 restrictions to commence just before midnight on 27 April.
It will mean that from Tuesday, all businesses deemed to be capable of operating “safely” will be permitted to do so.
The country’s minister of housing, Dr Megan Woods, has stated that private viewings of homes for sale or rent will be able to take place by appointment under alert level 3.
It’s a move that’s been welcomed by the Real Estate Institute of New Zealand (REINZ), which had previously called for greater clarification on what real estate activities would be permissible.
Initial guidance was provided to businesses just under two weeks ago that had indicated real estate agents would be able to work during level 3 restrictions, albeit in a limited capacity.
REINZ’s chief executive, Bindi Norwell, expressed delight at the announcement and that the government had listened to industry feedback.
“We look forward to receiving the further details we need over the coming days in order to make this happen,” she added.
“This means that the thousands of people around the country who have been in limbo over the past few weeks can now move forward with their property transactions.”
She said the announcement would come “as a big relief” for those individuals who have been unable to conduct pre-settlement inspections during the level 4 lockdown period and have been paying hundreds or thousands of dollars in bridging finance each week.
“Additionally, for the hundreds of tenants around the country who have been waiting to inspect a rental property so they have somewhere to live, this will be much welcomed news. The same is true for landlords all across the country who have empty rental properties and are desperate for some income in order to pay their mortgage,” Ms Norwell acknowledged.
The clarity has also been welcomed by Ray White New Zealand CEO Carey Smith, who has observed “consumers have been quick to adapt to life in lockdown by engaging with new digital tools and content to help shortlist properties while in isolation”.
With searches for properties for sale and rent also increasing, according to the CEO, the agency is “very thankful for this news”.
“We know the property market is one of the core foundations of the New Zealand economy. The ability for purchasers to view a property for sale is critical to the sales and property management process,” Mr Smith commented.
According to the REINZ, real estate services account for approximately 13 per cent of New Zealand’s gross domestic product (GDP).
Mr Smith said Ray White had been receiving a good amount of enquiry from online portals over the past three weeks.
He said: “This would indicate that there is certainly demand from existing buyers to be able to look through properties that they may have considered prior to the lockdown.”
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
You are not authorised to post comments.
Comments will undergo moderation before they get published.