After years of no growth, the market is moving quickly
Much as it pains me to say this, certainly after many years of quiet market, but everything you are reading in the mainstream media regarding the property market is pretty much accurate. Houses are selling quickly, there are more investors competing with first time buyers and there is a distinct lack of listings meaning that prices are continuing to rise.
June’s property sales figures have just come through from the Real Estate Institute and they show 84 residential sales in Upper Hutt taking the yearly total to date to 519. Contrast this with 402 sales in 2015 and 305 in 2014 and it becomes apparent that after 9 years of no growth, we are finally seeing it move, and move quickly!
The only thing that I can see to slow this market down is the imposition of an LVR by the Reserve Bank towards the end of the year but that is aimed (anecdotally) at investors which hopefully will aid all those first time buyers by removing cashed up competition.
However until that happens the market looks to continue to rise.
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(04) 212 6787
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