Investor Insight with Tony Alexander 

Crockers launched a survey of residential property investors, in June 2021, in conjunction with independent economist and all-round housing guru Tony Alexander. Over time the survey will allow us all to gain insights into how the sentiment of the property sector is changing over time, and how things are shifting with regards to intentions to buy, sell, change property type and so on.

Tony’s commentary on the real estate market is always valued and sought after, and each month we report back on the results with Tony's measured and data-driven commentary in our edition of Investor Insight that can be accessed below.

Tony Alexander Survey Report  May 2023

Noticeable improvement in access to bank credit in recent months. A rising proportion of investors selling say they are motivated by removal of interest expense deductibility. Investors are increasingly net sellers of property. The average term for which investors plan retaining their property is declining.

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Tony Alexander Survey Report  April 2023

Investors  preference is shifting away from townhouses to standalone dwellings. New interest rate uncertainty has led to a slight rise in the average term investors plan fixing their rate for. Removal of interest expense deductibility is becoming a more important factor for those investors looking to sell.

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Tony Alexander Survey Report  March 2023

Property owners report that good tenants are increasingly easy to find. A relatively high 82% of investors intend raising their rents over the coming 12 months from just 70% in December. Fixing one’s mortgage interest rate for one year is the strongly preferred option for those with debt.

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Tony Alexander Survey Report  February 2023

Net intentions of purchasing another property have shifted back to average.  The return of tourists and foreign students may account for a rise in plans to purchase an existing apartment. Over 70% of existing investors favour fixing their mortgage rate for just one year.

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Tony Alexander Survey Report  January 2023

There are signs that the initial surge in concerns about rising interest rates and recession have backed off slightly. Concerns about house prices falling have pulled back after a “shock” jump in December following the Reserve Bank’s policy tightening and warning of recession.

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Tony Alexander Survey Report  December 2022

Following recent interest rate rises investors’ net intentions of purchasing property have declined. Investors have become more concerned about interest rates rising and property prices falling. But there is a slow decline in concerns about the loss of interest expense deductibility.

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Tony Alexander Survey Report  November 2022

There is a slight rise evident in the proportion of investors looking to buy who will seek an existing rather than new property. The proportion of investors concerned about legislation changes strengthening tenant rights continues to track slowly downward.

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Tony Alexander Survey Report  October 2022

High volatility and uncertainty regarding interest rates and the economy have had little impact on investor plans. Interest in purchasing a new townhouse is waning marginally. A slight shift in mortgage interest rate fixed term preference away from one year towards two years.

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Tony Alexander Survey Report  September 2022

Investor interest in purchasing property has strengthened. The downward trend in plans for undertaking one’s own property development has re-established itself. Interest in buying an existing property remains stronger than interest in buying new properties.

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Tony Alexander Survey Report  August 2022

Proportion of investors looking to increase their rents continues to decline as does the average rent rise sought. Bank willingness to lend is seen by investors to be improving. Net plans for purchasing more investment property have fallen. Investor concerns about rising interest rates are abating.

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Tony Alexander Survey Report July 2022

Investors are increasingly pulling back from selling their properties despite rising interest rates. Proportion of investors planning to try to raise their rents in the coming year has fallen to the lowest level. Fewer investors are finding their bank to be tough on them.

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Tony Alexander Survey Report  June 2022

There remains no indication that rising interest rates are causing extra acceleration of debt repayment plans. Net intentions of buying more property have eased but remain consistent. The average term investors are fixing their mortgage interest rate for continues to shorten.

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Tony Alexander Survey Report  May 2022

Decline continues in the proportion of investors looking for a new property who will undertake the development themselves. Ease with which investors can find good tenants is slowly falling away. Interest in purchasing existing townhouses remains low, but demand for new ones is strong.

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Tony Alexander Survey Report April 2022

Demand for more property has eased slightly, but intentions to hold for the long-term remain unaffected by rising interest rates and falling house prices. There is no clear sign that rising interest rates are causing accelerating plans to pay down debt.

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Tony Alexander Survey Report March 2022

Reduced interest in selling and a small rise in plans to buy residential property. Investor interest in developing their own property has decreased slightly again. Demand for existing apartments has waned over the month. Rising interest rates have yet to produce a lift in mortgage repayment plans.

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Tony Alexander Survey Report February 2022

No upward trend in existing investors quitting the property sector is underway. Investor interest in undertaking their own property development is slowing. Borrowers favouring 2-year term for fixing their interest rate. Slightly more investors are showing concerns for house prices falling. 

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Tony Alexander Survey Report January 2022

Investors are shortening the average term for fixed rate mortgage. Banks have become less willing to advance extra funds. Preference of investors in new dwellings has shifted. Despite rising interest rates, slight trend towards accelerating debt repayment or moving from interest-only payments. 

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Tony Alexander Survey Report November 2021

Rising mortgage rates have yet to alter buying and selling intentions, and debt repayment is not being accelerated. However, more investors are looking to fix their interest rates for longer periods. One-quarter of investors planning a purchase will develop a property(s) themselves.

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Tony Alexander Survey Report October 2021

Lockdown has not brought about a sustained deterioration in investor plans to purchase property. Rising interest rates have yet to incentivise selling by investors. Planned resource consent changes on intensification have yet to shift intentions more towards purchasing new builds. 

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Tony Alexander Survey Report September 2021

There is a slight easing trend in the average rent increase desired by investors. They perceive a slight toughening instance from their banks. There is no discernable change in sentiment arising from Auckland’s latest lockdown (despite over 50% of the responses being from that region).

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Tony Alexander Survey Report August 2021

Investor plans to sell their properties are declining. 18% of investors say March 23 tax changes have encouraged them to sell, 12% say they will hold their properties. If mortgage rates were to rise 3%, only 8% of investor say they would be forced to sell property.

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Tony Alexander Survey Report July 2021

There is no strong impact as yet from discussions about rising mortgage rates. There has been a rise in the proportion of investors preferring to buy a new rather than existing property. Tax rule changes are a factor for about one-third of investors planning to sell.

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Tony Alexander Survey Report June 2021

Results for the Investor Insight survey rolled out in June. This first survey gives us some valuable insights into the structure of the residential property investment sector.

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