21 March 2005
February 2005 real estate results for Harcourts revealed an ongoing trend of continued positive activity, according to
CEO of Harcourts New Zealand, Bryan Thomson.
Commenting in the March 2005 edition of the Harcourts MarketWatch newsletter, Mr Thomson advised that with the number of
new property listings continuing to sit below the numbers which were being listed at the same time last year, buyers in
particular had to be “active and ready to move” to secure their desired properties.
In terms of recent interest rate rises, Mr Thomson noted the Reserve Bank announcement appeared to be having little
effect on the property market as “the residential property market is driven by several factors, including the key
factors of job security and income rather than just interest rates.”
However he cautioned buyers to look closely at not just their borrowing limits, but to also carefully consider their
ability to service home loans in this climate of interest rate changes. “Applying this advice prior to inspecting
properties will also ensure you view properties that match your buying ability.”
With regards to those selling property, Mr Thomson reinforced the importance of taking the right steps to maximise their
sale outcomes. “While buyers are certainly active and competing hard for good quality properties, it is important that
your property is well promoted and your expectations are in line with the market based on sound market advice from a
professional sales consultant with the latest data.”
ENDS