Is It Really a Sellers' Market?
I haven’t spoken about the Upper Hutt market for a couple of months so I’m well overdue addressing a couple of things. Firstly let me offer my opinion about recent media reports saying about how the market is at a record high and it’s a sellers’ market. I’m sure they are completely correct in Auckland or Christchurch but completely wrong in the Wellington region.
In Upper Hutt in May 2012 there were 66 residential sales, there were 450 (approximately) residential properties plus lifestyle and rural properties for sale. The median sale price was $315,000, down from a May 2011 figure of $330,000. Call me old fashioned but that does not sound like either a sellers market or a record high market. It is massively important for real estate agents to know and understand their market but sometimes when a national snapshot is taken and the local market place is vastly different to what’s being reported it can create confusion.
The only way I know how to deal with this 2 tier market is immerse myself in what’s really going on, the number of sales that have occurred, length of time on the market, GV to selling price ratio etc. That way the advice I offer can be taken or disregarded but you know it will be honest and clear.
On a different note, I’m pleased to say that I recently picked up the 2011/2012 Tommys top agent award at a recent meeting of all the Tommys offices so I would like to say a huge thank you to all my vendors over the last year. I really couldn’t have done it without you, thank you very much.
If you are thinking of selling your home, would like a home appraisal, or simply want more information on the Upper Hutt property market please call me on the numbers below or contact me via email firstname.lastname@example.org. Alternately, you can fill in your details here on my website.
(04) 212 6787
I also have a Facebook page Please “like” www.facebook.com/steveslicker if you would like to be kept up to date on the on the latest real estate news and listings.