Sales volumes eased back a little in Q2. A continued lack of listings is still a restraining influence on volumes. However, data on valuations ordered by banks suggests demand has eased too.
Buyer Classification data is showing a turning point in Q2. Investors share of purchases eased to 25%, with higher deposit requirements starting to bite. While the opportunities this has provided for other buyer groups has seen first home buyers share increase to 24%.
These trends have been mirrored in the Wellington region, which has seen strong growth in property values over the past year.