Market Directions on the North Shore

Daylight saving has ended and the temperatures immediately took on that autumn hint. I am reminded of Wanaka at this time of the year, and how beautiful Central Otago is when the leaves are falling. Now we are in that selling period before winter and these next 3 months will confirm the North Shore house market’s direction.

There are more homes for sale and a greater proportion of them are not selling in the initial marketing period.

One of the reason’s for this could be that  the seller was hoping the lift in values of late 2009 would continue. As a result their price expectations may have been a little ahead of the market.

The second reason is that buyers became a little cautious as values rose quickly. Thirdly, not every seller took action on the need for stronger marketing in this market.

The very positive aspect is that there are buyers looking and buying and when a property is well presented, well marketed and managed by a skilled sales consultant, great sales results are being achieved.

This is a market that also offers some great buying opportunities, especially in the rental market. Some investors are adjusting their holdings in light of coming tax changes. This is good news for investors with spare equity and for first home buyers.

For an update on the value of your home—just give me a call.