Some Like it hot
the weather
the market
It has well and truly had the dials turned up- how long will it last everyone asks and with shortage of stock and low interest rates it has all the ingredients of being a steady burn. But, let’s not sit on our laurels – houses still need to be prepped and ready to show even if vendors are choosing to sell off market. Buying in current conditions is most certainly proving beneficial to take to the market and watch it rise.
Covid-19 did little to dampen the New Zealand property market last year. New annual data from realestate.co.nz shows that as prices soared, so too did demand with 23.0% more users searching for property nationally when compared to 2019. Also increasing by 227.8%, the number of people searching for property in 2020 more than tripled when compared to 2016.
Vanessa Taylor, spokesperson for realestate.co.nz, says that despite all the challenges that came with 2020, our love affair with property didn’t diminish. “Up 10.7% to $775,976, properties in New Zealand, on average, cost $75,056 more in 2020 than they did in 2019. Coupled with the record demand, this tells us that people didn’t shy away from buying and selling last year.”
In Auckland we’ve started to see a change, with the large number of new homes being built exceeding demand caused by population growth. But supply is still tight because of the shortfall in previous years.
If you want to know how, call me, and for more information on selling my house Takapuna, property valuations Takapuna and Harcourts Takapuna please go to http://www.ilseevans.co.nz .
