11 July 2012

Positive Activity In Waikato Property

Waikato District Council has seen a significant increase in LIM and property requests over the past 12 months.

The rise in applications for Land Information Memoranda (LIM) indicate the district could be bucking the national trend when it comes to the property market.

Over the past 12 months the council has seen an increase of over 60 per cent in the amount of LIM applications received and the number of property information requests are also up more than 50 per cent.

“People must be buying in the district,” said general manager regulatory, Nath Pritchard.

“What we are seeing at the council suggests people are choosing to buy or invest in existing homes and fewer people are building new.

“There has definitely been positive movement over the past 12 months within the district’s property market.”

Mr Pritchard said there was currently no indication that the requests and applications for property related information were slowing.

“From our perspective people are taking advantage of the property market and the district is buzzing, for example in May 2011 we had 54 LIM applications and in May this year we received 98.”

Mr Pritchard said he believed there were two main reasons for the increased activity.

“We have received an increase in LIM applications from people outside the district, including a number relocating here from Christchurch.

“And given that building consents are overall down in the district, which includes new build and renovation/extension work to existing properties, our figures suggest people are buying homes in the district that require either no work or minimum effort/cost to tidy them up.

“People must be buying in the Waikato district, which isn’t a surprise with all the benefits and lifestyle choices the district has to offer.”

ENDS

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