OVERVIEW / SELLING TIPS / ANY SALES?

Properties continue to sell

More and more people believe now is a great time to move on. Below is some feedback from what we experience on the coal face.

1. Returning Expats
Our area is popular for professionals returning from time abroad. There are a number of reasons for this; one is the close proximity to the CBD and other reasons include the vibrant cafe / restaurant culture and the fact that a lot of them already have an existing network of friends and family in the area. New comers to the area seem to like the fact that they are surrounded by like minded people and they want to invest their hard earned foreign currency in a top location. We are noticing a large increase in initial enquiry from expats considering returning home. The three key reasons we are hearing are 1. uncertain about job security, 2. the exchange rate is tending to make it more favourable to bring savings back to NZ and 3. many expats have had children and want to reconnect with family and return to the kiwi lifestyle. 

2. Short supply of top quality property in our area
Buyers still talk about the shortage of good options out in the market place. Our very wet, cold, and slow winter discouraged a lot of vendors and as a result, buyers have seen very little property to even consider.  There is pent up buyer demand on our databases, there are buyers out there who are deadly serious about buying and simply want to be shown quality options for them to consider. This is true of property brackets across the board from a young executive wanting a quality 2 bedroom apartment / Town house, A single mid 30's exec want a 3 bedoom villa to renovate, families wanting genuine 4 bedroom homes and a couple with a young baby wanting to spend around $2 to $2.2 million on the Northern Slopes. There are human reasons motivating each of these buyers. Families move, families grow, families contract, some people have an eye for villa renovations and love doing them, some people wouldn't even consider a project and are looking for a stunning designer kitchen so they can move in and start entertaining, for some people street address is king, for others it's simply a matter of finding enough bedrooms and storage to accommodate the children and all their activities. Needless to say, we are speaking to a lot of serious buyers who are definitely ready to commit now and into 2009. 

3. Growing local buyer pool
The local buyer pool is definitely growing in size. There seems to be a higher level of optimism in the market place. Interest rates and fuel prices have both seen significant drops in favour of the consumer. The new government is proving to be organised and proactive and we've seen positive reports about the strength and positioning of our major banks. We should not forget that a large number of people have done very well during the five to seven years of boom. There is definitely money out there that is looking for a home.