More choice for buyers as record prices continue
Despite the entire month of November being in Covid Alert level 3, six of the seven Auckland districts reached record median prices, including both the North Shore and Waitakere City.
Early signs indicate the market settling into a more to a stable & sustainable stride, albeit a very steady one. Predictions are that price growth will continue yet at a more controlled rate. The Governments measures to cool the market, the Reserve Banks OCR increases and banks tighter lending criteria all contributing, albeit minimally. There is also the anticipated increase in kiwis arriving home MIQ-free in early 2022.
An increase in listing volumes is providing stimulus for some, particularly those who have been hesitant to sell in the fear of not being able to purchase. The FOMO – fear of missing out – is beginning is dissipate amongst some buyers.
Our virtual auction rooms continue to be a hive of online activity with determined buyers vying to secure property. This week Harcourts Cooper & Co have 71 Auctions to be called.
All signals suggest the property market remains strong and a busy Summer selling season is ahead.
As we head into the heat of Summer there are no signs of the market cooling. Growing confidence of vendors and buyers to make property decisions is evident.