Housetalk 156

Dear Resident,

Winter, the coming general election and mortgages interest rate rises still have not been able to stop Auckland's rising house prices. Despite all the factors that normally halt price rises in Auckland they still increased by 0.7% from the July median figure (REINZ stats).

The over riding factor is the shortage of houses in Auckland. There is no doubt that this shortage will take at least 2 - 3 years to correct and it is more likely to take 5 years due to a shortage of trades people.

If the net migration to New Zealand continues at the present rate (over 38,000 to June 2014) then prices will rise even more as most migrants move to Auckland. With such a small number of properties on the market and a large number of buyers searching for a property it is a great time to sell.

Amazing prices are being achieved and many of the properties I market have multiple offers which naturally means very high prices. In an uncertain world where anything can happen now is a great time to sell when demand exceeds supply. Contact me for confidential advice on the value of your property - it’s probably worth much more than you think.

 

Capital Gains July 2009 - 2014

                  (3 bedroom homes)

Glen Eden               49.0%

Massey                    46.7%

Sunnyvale               47.9%

New Lynn               40.9%

 

Best wishes,

John Goodrum

Licensee Agent REAA 2008 Agent REAA 2008