I've seen booms and busts. Upper Hutt is in a strong growth phase.
As some of you may know, I’ve been doing this job for quite a while. (15 years in Upper Hutt at the end of 2018) In this time I’ve seen a property boom and a property bust, right now, it’s my 2nd NZ boom. Prior to moving here I was selling real estate in West London. I started in 1995 and still tell the story of selling property then for less than it was bought in 1987.
So all up I'm around 23 years in, hard to believe as I still think I’m 35! "Steve, what’s the point of bringing this up?" I hear you ask. It’s quite simple really, because I’m hearing some of the guff and rubbish again that gets repeated ad infinitum. The particularly cretinous article I’ve recently read that got me going was the prediction of house prices dropping imminently.
It's fair to say that I’m not an economist, also being in the real estate industry some people think we’re not necessarily that bright. (they may have a point!) But one thing I do know is how to spot a pattern in a real estate market and while we may see the number of sales drop over winter, which by the way, happens every year prices will not drop.
The simple fact is that Upper Hutt is going through a strong growth period right now and has been for a while. there have been thousands of new houses built over my time here and there continue to be hundreds more on the go, I’m not seeing older homes being demolished so where have people come from?
Wellington, Lower Hutt and Auckland are the easy answers, also overseas. Our immigration levels in NZ have been running around a gross figure of around 70,000 per month for a few years, well they all need somewhere to live, if they buy in Wellington, where prices are high, the first-time buyers who can’t afford there come here. Not exactly rocket science is it? We are still one the best and cheapest areas in the region with great travel links.
I'm limited to how many words I can write in The Leader and I could write another 450 words to further clarify but 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
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