Short & sharp this week obviously a huge amount going on for people to talk about but given this is a property update and not a political update I’m going to avoid that topic as usual and following our full monthly wrap last week there isn’t a lot more to add on property. Except maybe with a ban on foreign purchasing of existing property set to be introduced, we may potentially see in the short term some rush buying from overseas investors as they look to secure a land holding here, before they are locked out of the existing home market.
To put it nice and short though, based on activity on the ground over the long weekend following the announcement on Thursday – it appears business as usual for the time-being.
In This Week’s Market Wrap:
– Foreign Investors – will we see a rush of activity?
– Combined clearance rate of 48%
– New listings increasing in numbers
– Still time to sell before Christmas
Cooper & Co Auctions
To the Auction desk and we saw a clearance rate of 48% last week combined across the two big brands on the Shore, now this is similar to the week prior actually sitting slightly better, so not a bad result for a long weekend.
New listings are continuing to climb with nearly 1550 North Shore properties now available on realestate.co.nz, which is about 10% up on this time last month, so plenty more for buyers to get out and see.
Despite the weather and the holiday weekend, we still had some pretty good numbers through our opens and it’s great to see, that with the increase in property becoming available, we’re also seeing more and more buyers entering the market.
Presentation more important than ever
Presentation, presentation, presentation. Whether you have a new home or an old home, presentation is still the key, and now it’s more important than ever as buyers have become a lot fussier, and a lot more cautious than they have been in the previous few years.
Albany – An amazing high end lifestyle property set on 2Ha in the heart of Albany
Forrest Hill – A large 5 bedroom family home
Torbay – A 3 bed 2 bath on a freehold site with sea views
Milford – A fantastic 2 bed 1 bath brick and tile unit – one of the best I’ve seen here for some time!
We hope you enjoyed the long weekend and managed to get in a wee break as we are now in the often crazy home run into Christmas. Remember if you’re wanting to sell before then, you have 2-3 weeks left to get your property on the market for a pre-xmas sale, so really you should already be in discussions with your agent.
That’s it from me, remember to check out our fantastic new listings below or at kriscunningham.co.nz and we look forward to seeing you out and about this weekend. Thank you for viewing and as always, if you have any questions by all means just give me a call.
Have a great week!