OVERVIEW / TOP FIVE REASONS TO BUY /

Top Five Reasons to Buy Now

1. Affordability
For the first time in a long time we have a situation where interest rates have experienced very healthy cuts and house prices have tracked in a southerly direction. What could possibly be better for buyers?
Sure, we have had slightly lower interest rates in the last 3 to 4 years but that was in a climate when house prices were ramping up steeply and dramatically. It was probably a false economy for a buyer to be happy to secure a low fixed interest rate mortgage only to end up paying $50 - $100,000 more for his new home due to market conditions and intense buyer competition.

2. Prime Real Estate
Let's not forget that the greater Ponsonby area makes up an exclusive and highly sought after city fringe location.
There is no doubt that quality property will always be quality property. Global consulting firm Mercer ranked Auckland 5th out of 215 cities in its 2008 survey on quality of living. That puts us first in the whole Asia – Pacific region. Auckland received perfect scores for housing and got special mention for its prestigious residential districts. Now is possibly the perfect time to secure yourself a piece of that action. Just out of interest, we also scored highly in the areas of climate, education and personal safety and were placed well above “marquee” cities like Sydney 10th, Melbourne 17th, Paris 32nd, Brisbane 34th, London 38th New York 39th.

3. Comfort
You can negotiate and purchase in a more comfortable and orderly environment. There are far fewer multiple-offer situations at the moment. For the first time in quite some time, the "buyer frenzy" has disappeared from the market. There are still a good number of strong and serious buyers in the marketplace but the days when 5 or 6 buyers all had their hearts and wallets focussed on the same home have passed us by for the moment. You don't have to go too far back to recall the days when local buyers would inspect a property once (and only once) at the first open home then wait in their car until the end of the open home and make an offer to the agent while they where packing up their open home flag and signs. This type of activity was incredibly frustrating for other buyers. History tells us that those days will certainly be back. We are already seeing a spike in initial enquiry from ex-pats looking to return home and purchase. Recent movements in the exchange rate tend to favour them at the moment and our own interest rates are tipped to fall again in the near future. When the market turns, it can move very quickly.

4. Mortality
None of us are going to be here for ever. How do you want to live your life? Do you see a home as an important cornerstone of security, memories, lifestyle and comfort? Is your current dwelling a true reflection of your personality, and does it allow you to lead the life you want? A home is far more than just a house, it's a haven for family and friends to enjoy. We are talking to more and more buyers who are choosing to get on with life and looking to secure the lifestyle they've always wanted.

5. Opportunity
Billionaire investor Warren Buffett was quoted as saying: “Be fearful when others are greedy and be greedy when other are fearful.” Many an investment book will tell you that you actually make your money when you buy and we believe there are a number of great opportunities out there at the moment. Mainstream banks are actively seeking mortgage applications from clients with solid income and good equity position. Talk to your bank or mortgage broker, you may be pleasantly surprised.