So here we are, in a sellers' market!
So here we are in a sellers' market. There are 171 properties listed for sale in Upper Hutt (at the time of writing) on www.realeastate.co.nz, the lowest level of listings I have seen in Upper Hutt in my 12½ years of real estate here.
We are now seeing more investors here buying property including Auckland investors which have not been seen in Upper Hutt before. This means that local buyers have now got increased competition which combined with a shortage of stock is driving up prices.
I was speaking with a colleague who listed a house in central Upper Hutt last week and enquired as to how many people came through the open home, I was blown away when she said 24. To put that in some perspective, prior to this year, I doubt I would see 24 buyers in a month of open homes and yet the numbers are up across the board with multi offers becoming the norm and not the exception!
So what’s my advice? To buyers, it’s simple, buy something.
It doesn’t have to be through me but we have had 8 years of zero growth, so there are plenty of legs left in this current property cycle and what you are looking at today will be a very different price in 6 or 12 months time and with current activity levels it’s extremely doubtful the average buyer can save as much as the market is rising!
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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