CURRENT MARKET CONDITIONS - MAY
The latest Real Estate Institute of New Zealand sales figures show a quieter month for Hamilton,most likely due to inclement weather and three short work weeks over Easter and ANZAC Day, combined with school holidays. There were 240 residential dwellings sold in April, down 39% from the 337 sales recorded for March. The average days a property takes to sell rose to 35 from 31 days the previous month. While activity lessened, prices remained stable. The median sale price of $535,000 was down marginally on the record high in March of $540,750 but an increase of 17%(or$77,000) on April 2016. The amount of property available for sale remains steady,in the late 700’s at the start of April. We expectl isting numbers to decline over the cooler months ahead as many vendors favour selling in the warmer seasons. This reduction in supply will likely be met by a continuation of the strong buyer enquiry Harcourts are experiencing across all price points and suburbs, thereby adding upward pressure to prices. Owner occupiers are accounting for a higher proportion of buyer enquiry than in 2016, enjoying less competition from investors, however many Auckland investors are beginning to realise their 20%deposit,which is no longer sufficient after October’s LVR changes, equates to 40% in Hamilton. If you are looking to sell it is a good time to consultyourHarcourtssalespersonabouthowtobestsucceedandmaximisetheprice in this market. The auction method of sale looks set to continue as the preferred option throughout 2017 – understandable given Harcourts Hamilton’s auction clearance rate for the past year was 88%! Fairly presented properties, widely exposed to buyers through our excellent marketing campaigns, continue to enjoy strong buyer enquiry and the best possible prices.The right time to act is right now!
Mortgage & Insurance Adviser
Mobile: 021 926 331
Freephone: 0800 226 226
Phone: 07 834 0601
Fax: 07 834 0602
PO Box 9457 Hamilton, Waikato Mail Centre
Regions available: Hamilton, Waikato
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