House sales in Auckland saw a big lift in numbers in March and that was also the case in Waitakere City. Both sales numbers and prices increased. Investors are buying because of rising rents and first home buyers who have been renting are also buying to avoid paying higher rents.
With so few new houses having been built in the last 3 years the shortage was already starting to show when several thousands of people moved to Auckland from Christchurch. All markets are governed by supply and demand. Supply is low and demand is high so it does not take an economist to know what is going to happen to prices.
If you are looking to sell beat the rush next spring when you will be competing with a lot more sellers (supply and demand) and take advantage of the present increases in both numbers of buyers and increased prices.
Phone or email me for a confidential obligation free opinion on the current value of your property.
Best wishes,
John Goodrum
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