Changes in the Real Estate Market
Hi folks,
As you read this we will be approximately halfway through a glorious 10 day stint of what has been called perfect weather. Isn’t it brilliant? The unfortunate thing for me and most of us is that it comes when we are back at work, which brings me on nicely to the Upper Hutt property market.
For a second consecutive year the number of property sales in Upper Hutt has increased showing a huge change in the market since 2010. Back in 2010 the number of local sales for the whole year was 583, in 2011 it increased to 707 and last year the numbers rose to 747.Add into the mix that there are, at the time of writing this, only 363 properties for sale and the question has to be asked if we are going to see price increases as it looks like the supply demand imbalance of recent years may be about to change back to the benefit of vendors.
With Auckland and Christchurch leading the charge in terms of price growth, can it be long before the Wellington region follows suit? As ever not an easy question to answer and the reality is that typically we only see market conditions from a rear perspective, by that I mean we always look backward to see what has happened and predicting confidently forward can come back to bite us if we get it wrong. I will say with confidence though it is a better time to sell now than recent years.
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 steve@steveslicker.com alternately fill in your details here on my website.
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Kind regards, (04) 212 6787
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