As winter starts to bite we reflect on another year of very flat real estate activity. There has been a gradual but quite erratic increase in sales volumes this last year, but there has been no real market change. We still have a shortage of property on the market in New Plymouth, and there are still a reasonable number of active buyers. The Buyers have been very restrained though. Although mortgage rates are as low as ever, and the banks are back into the market aggressively, buyers seek real value and are quite specific about what and where they buy – and what they are prepared to pay. Investors are particularly discerning and when pushed over their price just walk away. Winter will not help this situation. Although real estate is not seasonal, it certainly slows when daylight savings ends. Dusk is early; home buying visits after work are difficult. In this climate daytime open home activity and perfect pricing are key.
John Christiansen
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