Winter Slow Down Listings Drought

winterWinter is on it’s way even if our weather is slow to catch on.  The volume of property listings around the country is lower than this time last year and asking prices in many regions are lower too which is characteristic of this time of year. However in Auckland property asking prices are much the same today as they were in March and Wellington is experiencing a mini-boom with property values increasing due to increased demand from investors.

There are regions bucking the trend with substantial price increases including Northland, Coromandel, Bay of Plenty and Marlborough.  The winter slow down listing drought however is of concern to first home buyers.  Winter is typically a good time for first homebuyers with less competition from ‘fair weather buyers’.

Maintaining low interest rates and a healthy release of new resource consents is a key to keeping a lid on the housing crisis in Auckland.  interest.co.nz reports

“I note in the period that I have been the Minister house construction has gone from 13,000 a year to 27,000 a year. In fact, the housing build rate has increased more in the last 3 years than it has at any time in New Zealand history,” Smith responded.

The release of newly renovated homes onto the market is also welcomed.  PropertyTutors mentors property investors in the property trading strategy  and it’s churns out hundreds of affordable homes every year.

Wellington is also getting the same treatment in the lower socioeconomic areas of the Hutt Valley.  For more information on this project go to propertytutors.com

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