Property value followed by rates increases are the greatest concerns regarding their property, 94% of respondents said in Corelogic’s latest property survey.
In Auckland the order was reversed, with rates increases the number one concern and property value second.
“This reflects the unique nature of the Auckland housing market,” the report stated. “Rates in our largest city have recently been forecast to increase by an average of 9.9% – driving up concern for Auckland home owners.”
Of those respondents who were renters, 88% indicated that they would like to buy into property but said they were hampered by house prices and saving for a deposit.
Among the 20% of respondents who had bought property in the last 12 months, the biggest reason for buying was investment with upsizing/ downsizing and first-home coming second and third respectively.
The survey showed the single most important variable for people considering buying a property was the “opportunity to add value”, with nearly twice as many people choosing this option over the next most popular “low maintenance”.
The results of this survey were based on responses from 16,000 CoreLogic customers who use QV.co.nz and are currently active in the property market and over half consisted of baby boomers.