Properties are selling faster!
Hi folks,
It’s nice to report some good news with the release of the latest sales figures from The Real Estate Institute NZ (REINZ). The number of sales in Upper Hutt is continuing to track much better than 2014.
As at the end of May, the number of residential property sales stands at 302 across all the real estate companies in Upper Hutt, this compares favourably with 265 at the same time last year, a steady rise of 37 more sales. I’m not sure I would trumpet a rock star economy but it’s certainly better than less sales.
Of course in the interest of balance, it is still not a patch on the 371 sales as at end May 2013. I’m certainly hopeful that recent changes to accessing Kiwisaver for first time buyers will start to have an effect on the market sooner rather than later.
Interestingly the median days it takes to sell a property has dropped to 39 days, again compared with last May’s 43 days, so lots of positives, more sales and less time on the market. Long may it continue! And if anyone is curious about what portion of a national market Upper Hutt has, it’s a miniscule 0.48%. It’s fair to say that we aren’t affecting the Auckland market one iota but I do know one thing with certainty, it’s a matter of when and not if that the immigration that is flooding into north of the Bombay Hills spreads throughout the other main centres and when that happens then our market will start to move again. I just wish I could tell you when that would be!
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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