Demand is high and prices continue to rise
Hi folks,
The Upper Hutt property market is continuing its growth with 81 residential properties sold in May taking the total this year to 435! At the same time last year the figure was 302 and in 2014 it was a measly 265.
There are currently 152 properties on www.realestate.co.nz and this figure is well down on last year's circa 400. The current trend is that properties are coming to market and selling much quicker than in recent years meaning the available stock numbers are not increasing.
This is keeping supply short while demand is high, meaning prices are continuing to rise.
When I waffle on about property, one aspect that I generally mock is the median sale price, the rises can be huge from one month to the next while prices don’t generally reflect the figures. Well today, I’m not mocking the figures as the monthly median price has been $407,000 for the last 2 months showing a huge rise from last years $330,000.
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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