Alert Level 3 – so what does this mean for real estate?

Flinders House living room (3)

The latest announcement from the government in regard to real estate is good news.

The Minister of Housing, the Hon. Dr Megan Woods, has confirmed that private viewings, by appointment, of homes for sale or rental properties can take place under Alert Level 3.

The ability to buy, sell and move into homes is fundamental to the health and wellbeing of New Zealanders and our economy. The ability for purchasers to view a property for sale is critical to the sales and property management processes.

Bindi Norwell, Chief Executive at REINZ says: “We’re delighted to receive the news that private viewings can take place under Alert Level 3, and we look forward to receiving the further details we need over the coming days in order to make this happen. We are also pleased that the Government has listened to industry feedback.

“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,” points out Norwell.

“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, today’s announcement will come as a big relief,” continues Norwell.

“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 are desperate for some income in order to pay their mortgage,” concludes Norwell.

Hayden Duncan, General Manager for New Zealand Sotheby’s International Realty is relieved that at Alert Level 3, the community can move forward in regard to their property needs. “We’re very keen that when it comes to our clients we can undertake the necessary inspections safely both for the community, our clients, our customers, and as importantly for us.”

Real estate services are critical to the New Zealand economy and account for approximately 13% of New Zealand’s gross domestic product (GDP). As New Zealand navigates the effects of COVID-19, the professionally managed facilitation of property sales and purchases will be key to confidence and wellbeing and will help minimise the impact of the pandemic on our economy.

Source: REINZ


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