Tag: Upper Hutt
The Real Estate Market's Peaks and Troughs
Hi folks,
I’ve had an interesting week after the Sunday Star Times carried out 2 stories in its business section stating that house prices had dropped 22.6% in Upper Hutt, interesting because a number of people have asked if it’s true, and if so what next?
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Behind the Median Price
Hi folks,
Just thought I would let you know that I’m in a good mood today (Monday), I had a pleasant weekend, caught up with friends, held some open homes, placed a property under offer (hi Sandy and Peter) oh and finally spent some time looking at the recent real estate statistics.
It's a Great Time to Buy!
Hi folks,
Good grief, another week of real estate misery in the papers, I don’t know about you but I am so bored with it all. Just once could the stories go along the lines of "why now is a good time to buy"? It actually is a great time to buy. There is more choice available to buyers and the rate of property price growth has slowed almost to a standstill. Almost, but not quite.
Is It a Bad Thing to Have Fewer Agents?
Hi folks,
I thought today that I might cheer a few people up and mention an aspect of the property market slowdown that some of you will enjoy. No not the affordability factor coming back, something that for some people is even better. What’s that Steve? I hear you ask. The ever shrinking number of real estate agents!!
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A Return to a Traditional Market
Hi folks,
For those of you who read this on a regular basis, you may have noticed that I haven’t talked specifically about the market for a number of weeks. I’m always happy to and indeed it seems I talk about nothing else while at work, actually I’m pretty much a boring date too as it seems that’s all I seem to talk about when I’m out and bump into people. So to cheer you up, today I will mention the market.
People Move, Regardless of the Market
Hi folks,
For those of you that read this column on a regular basis, you will know that the statistics I source regarding property sales are from The Real Estate Institute of New Zealand. Their statistics usually come out a little later than Quotable Value but are an excellent snapshot of the real estate market.
Some Property Good News
Hi folks,
Well slap my thighs and call me Bob!! I’m writing today to give out some property good news because I’m absolutely fed up with reading total rubbish put out by the mainstream media about how badly the New Zealand housing market is doing. For the last 2 weeks every story I have read has been negative, neurotic and on more than one occasion utter, utter garbage.
House Prices Haven’t Fallen
Hi folks, due to a family bereavement I recently returned to the UK for a short visit which is why there was no column for the last couple of weeks.
Tommy's is a True Hutt Valley Success Story
After my last column where I was extolling the many virtues of Upper Hutt I have to confess to being very happy with all things real estate and the property market in general especially with Spring arriving and the imminent extended daylight savings just around the corner. I rather hoped anyone reading it would be feeling as confident as I am. Since then a number of finance companies have been put into receivership. It appears that the effect of the first couple of finance companies going into receivership has affected further finance companies rate of reinvestments and trying to get new investors joining them.
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Upper Hutt is Booming.
People Not Property
There are a couple of questions I am frequently asked, one is “Steve, what’s happening to the property market? “ The other is “what’s going to happen to the property market?” I guess the reason for asking either of these is simply that the rate of growth in property prices we have seen over the last 3-4 years has been massively surprising to the majority of people.
In answer to the 1st question, the local market place is acting the same as it does every year at this time, there are less properties on the market and therefore less sales. People are less inclined to sell in the winter months for a variety of reasons, the property may not look so good on an overcast day, its cold and people tend to “nest” over the winter months. The most common reason is that people want to wait for spring, gardens look more colourful and people simply feel better. Not long to go now thank goodness!
The 2nd question is a lot harder to answer. It’s fairly apparent the economists don’t know, after all for the last 3 years comments have abounded about the market overheating and prices coming down. If you had taken their advice and not bought that property for $265,000 18 months ago, you would now be paying in excess of $300,000 and with higher interest rates to boot.