This current hot market might be around for a while!
As regular readers will know, I have been stating in recent times that the property market in Upper Hutt is extremely busy with more sales happening, properties not staying on the market long and combined with a historically low level of listings we are seeing property prices rise.
But the question that I have been asked is why?
The answer is fairly simple and comes down to the net gain in immigration levels.
These are caused by a number of different factors, the first is that fewer people are leaving New Zealand, the second is that there are more Kiwis coming home and the 3rd is that more non-native New Zealanders are moving here. Think of the huge population growth in Auckland that has gone on over the last few years, it was a matter of time before it spread to the rest of the country and this is what we are seeing now.
When you combine this with really low interest rates, a softening of the Loan Value Restrictions once again allowing buyers to buy with a 10% deposit as well as accessing their Kiwisaver and it becomes apparent that this current hot market might just be around for a while.
If you are thinking of selling your home, would like an appraisal, or 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 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.