33 Auckland Market Activity Demand in Auckland has remained at the same level as it dropped to in Winter this year. Unaffordability, on top of Loan to Value (LVR) restrictions and tightening credit rules by the Banks has had a sustained impact on the market. With the new Government consisting of Labour and NZ First, with support from the Greens, we may not see much of a pick up this year due to tighter scrutiny on investor activity and foreign ownership. The share of sales in Auckland to multiple property owners has remained near record levels, with a slight lift in Q3, however the make-up of these buyers has changed. While previously as low as 20% of these multiple property owners were buying without mortgages, we’re now seeing this share increase to 30%. This is not due to cash buyers flooding the market – it’s due to those that require a mortgage to purchase property now being unable (or unwilling) to secure that finance. Market Activity Index - Auckland Buyer Classification - Auckland First home buyers in Auckland do not seem undeterred or unable to buy property with the largest share to this group in Q3 for four years. It appears sacrifices are being made to get into the market – either location or property type, although apartments are yet to be a popular option.