Best Real Estate Sales in Six Years!
I haven’t addressed the Upper Hutt market for a while and having recently seen the sales stats I thought this would be a great opportunity to catch up. The first thing to note is that the March 2013 was the best sales month in the last 6 years with 95 sales! This coincides with the lowest levels of stock available for some considerable time showing that the supply demand imbalance may be turning to favour vendors.
At the time of writing this there are 351 properties for sale, considerably down on the 550-600 properties that have been for sale at this time of year. In fact looking back to the first 3 months of 2012 there were 182 sales, for the same period in 2013 there have been 224, a huge increase of 42 continuing the growth trend in the Upper Hutt market since 2010.
The main reason for seeing this growth in sales is simply affordability. Upper Hutt offers more for your money than many other parts of the Wellington region, after all we are not seeing the huge population growth taking place in Auckland, nor are we seeing a lack of supply like Christchurch, buyers are seeing that with our low prices combined with excellent transport links, lifestyle options and schools that this is great place to live.
On a different note, now that Summer has finally left us, let’s hope the rains stay away on Thursday morning for the Anzac Day marchers, I will look forward to seeing them and remember the sacrifices previous generations have made.
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