The Pulse – 10 Sept 2019

By Craig Smith

NIWA may be predicting a wet September, but in terms of real estate this month the heat will start to go on.

All indications suggest a continued upturn in real estate sales, as buying conditions ease and more property becomes available. This upturn will be welcomed by a real estate sector hampered by a shortage of listings throughout the winter months. There is nothing worse than the frustration of having good buyer resources with not enough property to support this demand.  As new listings continue to hit the market with increasing rapidity, this trend is changing as we expect to see a steady and growing flow of property to the market.

Prices in many Auckland areas are showing signs of firming. The return of higher numbers of first home buyers, (almost 1/3 of all homes sold in Auckland were to these buyers last month), has created a surge that will benefit the whole market as first home sellers buy second homes and so on. This trend will ensure that prices remain stable and will at some point begin to appreciate into 2020. With interest rates still softening, banks seemingly easing lending restrictions and more property hitting our “shelves”, this is a great time to buy or sell.

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