Monthly Market Update | December 2019
Favourable factors for a fast paced 2020 market
December saw a significant upsurge in activity both in the North Shore market and across the country. When comparing against the same time the previous year; North Shore volumes were up 64%, prices were up 7% and days on the market reduced by 7 to 33 days!
This flowed through the Christmas & New Year period with the market energy & activity the strongest we have experienced for several years with large numbers of determined buyers active in the market.
An apparent acknowledgement amongst the buying public that prices are likely to increase again, combined with low interest rates is fuelling the confidence of investors, first home buyers are endeavouring to get on the property ladder before further rises and existing homeowners looking to upgrade.
The high sales volumes have reduced available listings and with multiple active buying segments, this is resulting in a strong demand for quality properties.
An extremely positive start to 2020 with all factors pointing towards a busy year ahead.
Update for North Shore market based on REINZ statistics for December 2019, released 16th January 2020.