Lockdown has engendered extra determination from buyers to make a purchase, OneRoof suggests, and the extension of Auckland’s lockdown has added to that feeling of buyer urgency in our biggest city. In July, before the current lockdown hit, a gross 66% of agents nationwide and 59% in Auckland said they were observing FOMO on the part of buyers. The most recent survey at the end of September showed nationwide FOMO at 72% and Auckland even higher at 79%. What about the opposite of FOMO – FOOP or fear of over-paying? In April, 37% of surveyed real estate agents said buyers were worried that prices would fall right after they made a purchase. For Auckland, that proportion is now just 18%.
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