It seems as though normality is returning with schools back this week after the mid-year break. With this return we have noticed a sharp lift in engagement from home owners wanting to discuss selling in the second half of the year. Interestingly, this is not only coming from owner-occupiers looking to trade up, but also investors seeking to release capital. There has also been a significant rise in owners considering downsizing, not necessarily the size of the home but a lower price-point. Moving further out into the suburbs where more is available for the money, or leaving Auckland is definitely back on the agenda for some.
Given the shortage of homes available in our area for buyers, some owners are wondering if now might be a good opportunity to maximise yield. We have noticed that new properties coming to the market over the last two to three weeks have extraordinary buyer engagement – at levels we have not seen for some time.
Several recent sales have achieved record prices for the street, or the block (in the case of apartments) i.e 25 Cheshire Street.
Political parties have begun their push to secure votes in the upcoming election, with housing affordability developing as a lead platform. It will be very interesting to consider these ideas as they are released. Both National and Labour have promised serious measures and spending to address this issue.
In the meantime, at the coalface, we are busy preparing for a huge second half of the year. Appraisal activity is building, listings are scheduled right through until December and sales are climbing.
As always, we love talking property, and helping our clients make important decisions in this area. Please do not hesitate to contact us if we can assist you in any way. It is our pleasure to help.