After a delayed start last spring, the property market ended 2019 on four year high.
The low number of listings tilted the market in favour of sellers during November, which meant that buyers were in competition mode. There was a significant price increase that carried on through to the very last sales.
Most properties listed during this time sold, leaving a shortage on entering the next peak in February and March. It is clear that buyers will come back from their break on a mission!
For those who are thinking of taking advantage later in the year on the assumption that prices will keep rising – act wisely. Historically, the market goes into hiatus before an election.
The resurgence of buyer interest started at the bottom of the ladder with first-time buyers cashing in their matured Kiwisaver accounts with low interest loans. There was a window of opportunity for them to purchase ex-rental properties.
Some long-term landlords were not interested in upgrading costs associated with healthy homes standards and changes in tenancy rules.
GETTING READY TO SELL?
Think about first impressions
Before a buyer enters your home, they’ve already formed an opinion based on what they’ve seen from the road. Take a walk out to the kerb and think about anything that could potentially turn buyers off.
Freshly cut lawns, a well-cared for garden or hedge, clean paintwork on the house exterior and water-blasted concrete and fences make a huge difference and will make the buyer want to step inside.
We have an extended team of professionals who can help you prepare @thinkbigkiwi.com.
Geraldine Zareian, Residential Sales
Barfoot & Thompson
021 184 0312