Late Spring Should Signal Busy End of Year

Late Spring Should Signal Busy End of Year

A late Spring has impacted on both the rural and residential property markets with many sellers having delayed putting their properties on the market, according to New Zealand’s largest real estate group, Harcourts.

As noted in the October issue of their monthly MarketWatch newsletter, CEO of Harcourts New Zealand, Bryan Thomson said Spring was traditionally the time of the year sellers took advantage of the better weather and to also settle any moves prior to Christmas and the new school year. However he pointed out that the poor weather conditions had seen sellers throughout the country holding off a little longer this year.

Looking ahead, Mr Thomson said, “This all points to October and November being exceptionally busy as hopefully the sun arrives and people take advantage of the weather they’ve been waiting for.”

Mr Thomson added that despite the lower than expected number of properties on the market, buyers continued to show enthusiasm towards good quality and well marketed properties resulting in some outstanding sales. He also noted that the predicted interest rate rise for later this year could also increase that enthusiasm as people looked to buy now to lock in attractive fixed interest rates.

Mr Thomson said some of the key areas of note in the country over recent weeks included the continued demand for well located and presented property in the Auckland market despite some media suggestions to the contrary; Christchurch continuing to be perhaps the strongest market in New Zealand; and our rural property market looking even stronger than last year.

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