We have anecdotal information from people we deal with in Auckland, Hamilton and Tauranga that those centers have turned from rampant sellers markets to much more subdued and balanced markets. The LVR’s imposed by the Reserve Bank have really slowed investors down. This has had an effect on the whole market slowing buyer enquiry and activity in that greater Auckland area. This situation will flow down the island and in time it will soon become evident in New Plymouth. All things being equal, it could take 2-6 weeks – but it will happen. Be prepared to move ahead of that eventuality. Treat offers seriously meantime, you don’t want to regret dismissing a good offer and selling for less in months, not weeks.
John Christiansen
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