The Waitakere’s seem to be the place to be at the moment and popularity for our area is rapidly increasing with statistics from the REINZ showing houses selling faster here than anywhere else in the entire country! More and more we are welcoming buyers from inner city locations and the North Shore as often they are priced out of their local markets. These buyers are great news for vendors as they are generally prepared to pay a premium for their property.
REINZ Chief Exec Helen O’Sullivan says “The traditional rush of spring listings has not eventuated this year and the market is tightening as buyers face a limited choice of offerings. A shortage of new listings is causing buyers to make rapid decisions, lifting house prices”. Competition is fierce between purchasers and many miss out on at least two of three properties before managing to secure their new home.
Professor Hargreaves, director of Massey’s Real Estate Analysis Unit says, “House prices in Auckland are increasing faster than other regions due to the imbalance of new supply to meet demand from the increasing population. In the short run, while interest rates stay low and builders aren’t building, house prices will continue to rise in Auckland”.
What a great sellers’ market this is!
The above article is a regular contribution from Kay Wilson, executive member of the Massey & Birdwood Settlers Association and a Licensed Real Estate Salesperson in Massey