Some Property Good News
Well slap my thighs and call me Bob!! I’m writing today to give out some property good news because I’m absolutely fed up with reading total rubbish put out by the mainstream media about how badly the New Zealand housing market is doing. For the last 2 weeks every story I have read has been negative, neurotic and on more than one occasion utter, utter garbage.
I will clarify (again) that there has undoubtedly been a change in the market. This is not bad news but a long awaited return to a traditional marketplace. The good news that I have is that according to REINZ figures in February 2008 there were a total of 109 sales in Upper Hutt, these being houses and sections. Admittedly this is down on the total of February 2007 figures of 120 sales but clear signs that Upper Hutt is still going strong when compared with many other parts of the country. 109 sales in a market like ours is marvellous. It shows confidence in the area and clear signs that Upper Hutt is still going great guns and experiencing constant growth. And to the naysayers I would like to point out that while the average selling time has gone from 19 days (February 2007) to 40 days (February 2008) the average price is up from $310,000 to $325,000. Not what I would call a picture of doom and gloom.
I actually wasn’t going to write about these changes this week but after picking up my Sunday newspaper and reading the front page I felt I had to say something. By the way my apologies to Toha at the BP garage in Silverstream, I didn’t mean to swear so loudly after reading the headline, but rather foolishly thought that maybe we could have one day off from property market negativity. I had 8 open homes that day and I was feeling quite positive until I picked up the paper.
Changing tack a tad, if there are any property topics that you would like covered, please drop me a line at firstname.lastname@example.org alternatively write to me at Tommys Real Estate, 897 Fergusson Drive, Upper Hutt. I will do my best to answer any questions and if there isn’t space in this column, then I will get a personal reply to you asap.
0275 661 949