The Very Usual Seasonal Bubble
It seems it’s been a while since I last looked at the sales market in Upper Hutt so thought I would address it today. I’ve been talking to a lot of people who are raving about how the market is back to normal and all is well in the property world again after the “high” sales figures of recent months. Before I go any further I would like to point that I’m a happy chap generally, my glass is half full and I tend towards the positive, life is too short for anything else.
However....... please, can we have a healthy dose of reality here? Yes, it has been a great market for the last couple of months and while we don’t have April’s figures yet as agents we know it has been another good selling month. One recent change I have noticed is been in some companies promoting a more positive market by comparing March 2009 with February 2009, I suppose the next step will be to compare April with March, May with April and so on. If we continue with this month on month comparison then I feel obliged to show the world my hidden clairvoyant powers. Now they aren’t that good as the nearest I have got to a lottery win is 3 numbers but I will take a wild stab in the dark and say that June figures will be much lower than May and July will be lower than June.
When that proves to be the case will we back in a recession? Doom, gloom disaster? The answer is no.
All we have been seeing is the very usual seasonal bubble that happens every year, admittedly with fewer sales than most recent years. When the winter market hits us it will not be the end of the property market as we know it, it will simply be the usual winter market, less sales, stock sitting longer etc. One statistic gleamed yesterday was the amount of property available in Upper Hutt, there are 484 properties for sale, this is the lowest figure of available property in Upper Hutt for the last 18 months where the levels have been 620 at t he highest point but generally running around the 580 mark. Congratulations to the 76 people who sold in March, also congratulations to the 76 who bought. Even with all the doom and gloom and dreaded R word you have proved that life goes on and getting on with the next chapter in your lives was more important than sitting there worrying about it.
If you are thinking of selling or moving, please contact me on the numbers below or send me your contact details by clicking here.
0275 661 949