December 2018

Who can believe it’s almost the end of the year! NCEA is over, prizegivings are happening, and end of year functions are in full swing! We have been inundated with new listings as owners decide to hit the market with hopes of sales before the new year. Buyers are out in full force, hoping to secure their new home before Christmas. It’s all happening out in the market place! The bigger picture shows that Hibiscus Coast is holding value well and continues to see properties changing hands in an otherwise difficult lending environment. ‘Spring has sprung’ (it may have come late) but there are plenty of buying options ahead. Last month we successfully sold 30 Ngahere Views with 57 groups through the property and competitive bidding in the auction room. With a final sale price of $1,730,000.

So, what are the prevalent trends in the current real estate market:

  • For unique properties like 30 Ngahere Views, auctions with a great deal of marketing can be a fantastic opportunity as there are many buyers looking for properties comparable to this.

  • Buyers are appreciating asking prices out in the market place, with all the options available they like being able to see what exactly the price expectation is.

  • Deals are taking slightly longer as many buyers and sellers are either finding an option to buy before selling, or in need of selling before buying – it doesn’t halter transactions, but deal trains can arise within the market.

  • The majority of owners on the market are there because of motivation, whether it’s downsizing, upsizing, moving out of town, very few owners are selling just for capital gains.

‚ÄčEnjoy the holidays, stay safe, and know that we will be around over the Christmas and New Year period, here to help you with all and any of your real estate needs