2015: Better by a country mile!
It’s official, 2015 is a much better year for Real Estate in Upper Hutt than last year and by a country mile! The number of residential property sales this year from January–August is up on 2014 by a massive 108 sales! We are currently running at 532 sales for this year to date compared with 424 sales last year.
We are tracking 21 sales down compared to 2013 but I’m confident that our final figures at the end of December will be higher making 2015 the best year since the market peaked in late 07 early 08. The reason for the huge jump in activity can be attributed to the loosening of the rules around the LVR (Loan Value Restrictions), the incentives around Kiwisaver introduced in April this year and of course the lowering of interest rates. These 3 things have combined along with a historically low level of listings to cause more sales and some price increases which people caught in the equity trap can hopefully take advantage of.
The real surprise this year is in the number of sales over the Winter period. 230 in June, July and August compared with 192 February, March and April.
My message to anyone thinking of selling but are waiting until the end of October is “Don’t”. Call me now and take advantage of the busier market today rather than come to market with more properties in competition with you.
If you are thinking of selling your home, would like an appraisal, or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email email@example.com alternately fill in your details here on my website.
(04) 212 6787
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