House prices have risen to a 6 month high in Auckland to be almost at the peak of the market of late 2007. In Waitakere City there is a very similar situation. The low number of new houses being built for the past few years means that there has been far too little to keep up with demand.
Not only are first home buyers very active in the market investor buyers are also very active too – perhaps scared off by the very volatile share market. Add to this a shortage of existing properties for sale (in part because of the rugby world cup, but mainly because most sellers wait for the warmer months to sell) and it is clear why prices are presently so high.
If you are looking to sell I would get onto the market now while there is a shortage in property for sale as this may not be the case in the coming months.
I have many buyers looking for a property. Call me now for a confidential discussion.
Best wishes,
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