Home transfers hibernate during lockdown

Day20192020
Mon 2 Mar384474
Tue 3 Mar297315
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"Home transfers picked up just before the COVID-19 lockdown as it appears that parties brought forward transfers," acting property statistics manager Dave Adair said.

"The number of home transfers then fell away significantly in the first half of April, while the lockdown was in place."

There were 774 home transfers on Friday 27 March, down 1,263 (62 percent) compared with the equivalent Friday in 2019.

Typically, property transfers (including home transfers) increase during the week and peak on Fridays, excluding public holidays. Property transfers do not occur on Sundays, and only occasionally on Saturdays.

Why we talk about 'transfers' not 'sales'

A transfer is not the same as a sale. Transfers often involve a sale, but there are many other possible reasons for a transfer (such as marriage settlements, boundary changes, trustee changes, or changes in the share of ownership).

Every sale is a transfer, but not every transfer is a sale. We refer to the parties involved as buyers and sellers for simplicity.

/Stats NZ Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.