Homecomers seek houses

First National New Zealand: Homecomers seek houses

Kiwis keen to return home may be the boost the real estate industry is looking for, according to First National Real Estate.

First National offices around the country are receiving a noticeable increase in enquiry from New Zealanders living overseas who are considering moving home.

First National Tauranga fielded 27 calls last week from ex-pats keen for more information on homes for sale, and seeking more photographs of the homes' interiors. Other offices around the country are dealing with around half a dozen enquiries per week, compared with just one or two a month at the same time last year.

First National Real Estate General Manager John Stewart says New Zealanders living overseas are being enticed back by the international effects of the recession, the low Kiwi dollar and low interest rates.

In some cases, people are deciding to buy from photographs, without viewing the properties in person. Interest is being expressed from ex-pats in countries including France, Chile, the United States, Canada and South Africa, as well as from those living in the United Kingdom.

First Nationals North Island offices are experiencing strongest demand at this stage, with less demand in the South Island offices.

Mr Stewart said people returning to New Zealand shores could provide a much-needed boost for the property market and help redress the imbalance between sellers and buyers by providing more demand. If the trend became established, it could help stave off further property price decreases.

ENDS

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