16th September 2017
We seem to be in a real estate twilight zone with the election just ahead. Housing stock is still relatively low but I believe this will change after the elections combined with more houses coming on in spring. I have noticed more people at open homes over the past week or two and it does feel like there is a change in the air.
2nd August 2017
It has been an interesting market with some houses sitting on the market while others sell in a number of days. By my calculations, there has been about a 7 to 8 percent price drop from 2016 highs. The adjustment takes awhile to sink into vendors minds but for those that are serious about selling and price their houses accordingly are finding that they are selling in a timely manner. I wish I knew where it all goes from here, but I don’t. I love the peninsula lifestyle and the people that live here. Would love to hear your feedback. Keep smiling.
20th June 2017
I continue to see fewer buyers in the market and those buyers are taking their time. Many sellers still have their heads in last years clouds and often not ready initially to meet the market. What this means for vendors is increased frustration until they either choose not to sell or sometimes throw in the towel at levels that may be lower than some earlier offers. The volume of sales is also well down on last year. The positive news is houses are still selling if they are priced right nearer to the beginning of a campaign.
This shows me what sort of urgency there is in the current market. Are buyers taking more time or afraid to miss out? There are many other factors that can affect the average days on the market and one of those is access to capital and the banking industries willingness to lend. We can always see what has happened, it’s the why that is difficult to fathom.
This graph highlights some interesting things from a search point of view. The search term “Property”, Napier comes out on top and is given the highest score of 100. Auckland, by contrast, is almost half as popular for the same search with 58. We have fewer searches around the country during December which is something we already know but is highlighted here.
I would love to know what other indicators you might be interested in. More are coming but please tell me what you want to know by leaving a comment below.