Hi folks,

So this is the first column I’ve written since 2019 and it’s fair to say that there has been some considerable change since my last musings. Not only in the property market but throughout the country and last week the government changed. We are still waiting on the special votes to be counted so we don’t know yet what the makeup will ultimately be but whatever it is, to paraphrase Bob Dylan, "the times”, they are a changin."

And this is definitely a truism in Real Estate! The real estate market saw massive price rises during the COVID years, caused by somewhere in the region of 200,000 kiwis coming back home, followed by huge falls in part by ever increasing interest rates.

The questions to be asked if you’re thinking of buying and selling are "Where are we today and what’s happening in the market?" Simply put, we are on a rising curve, still some way to go for some properties to get back what they paid in late 2021 but we are on a rise, nonetheless.

I foolishly forecast at the end of April that we were going to have a quiet winter, it’s fair to say that I could not have been more mistaken, 92 sales in Upper Hutt in May caught the real estate world out and it continues as I’m writing this. To put that into perspective we are tracking at 493 sales year to end September for the whole of Upper Hutt compared with last year’s 455 sales. Now I know the difference is only 38 but there have been months when there have been less sales than that.

I’m still surprised at how low the numbers of sales are compared to some years ago, especially as our population has grown hugely to around 47,000 people (thanks Google)

Now I could waffle on but you’ve probably got better things to do but if you would to know more about the market, or how our larger marketing reach at Bayleys can help you if are thinking about selling or simply wish to see how much your house is worth then call me on the numbers below or contact me via email steve@steveslicker.com. Alternately, fill in your details here on my website.

Steve Slicker
Branch Manager
Bayleys Real Estate
DDI: (04) 212 6787
Mobile 0275 661 949
Office (04) 568 6044
Licensed under the REAA 2008

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