Quarter Update | December 2019

MARKET MOVEMENT

The Hibiscus Coast residential and lifestyle market has gathered big spring momentum. Listing levels have risen quickly and there is an influx of new buyers hungry to get decisions made prior to summer. In recent months we have seen several buyers paying a premium to purchase properties before they are advertised on the market. This, as well as many pre-auction offers shows the strength of buyers at the moment. The start of this month will see large volumes of activity as several buyers secure their dream home before Christmas. As expected, the market will quieten over the Christmas period but as city slickers head to the beaches there are great opportunities for the Hibiscus Coast in the new year. If you’re looking to make a change yourself in 2020 then now is the time to start talking with us.

BAYLEYS MARKET ROUND-UP

Poised for a flurry of pre-Christmas market activity, Bayleys salespeople have upped-the-ante this month, fielding more enquiry from buyers keen to take advantage of record low interest rates and a fresh supply of new listings on the market for sale. The general consensus across the nation has been that spring has well-and-truly thawed the frosty winter sales market; lifting sale volumes by 3.3 percent across the country and delivering median sale price rises in 13 out of our 16 regions, according to REINZ data. This positive performance from the residential housing sector may take some of the country’s leading economists, who are all but consigned to another Official Cash Rate cut this side of the new year, by surprise. However, Westpac’s chief economist Dominick Stephens muses that housing market buoyancy may just give the Reserve Bank of New Zealand (RBNZ) ‘pause for thought’.

It’s an interesting sentiment echoed by interest.co.nz’s David Hargreaves as he speculates whether the RBNZ’s review of loan-to-value (LVR) restrictions due later this month will provide further impetus to the housing market and the economy as a whole. With such strong competition across the mortgage market, Bayleys anticipates a busy summer for our salespeople, driven by the return of property investors as well previously passive families looking to leverage their assets.

Announcements scheduled for December will see our four major banks find out whether they’ll be required by the RBNZ to hold nearly double the minimum equity held against assets including residential housing loans. If passed, this could certainly make finance harder to come by for small-time developers and budding home buyers.

For those seeking a sale during the warmer weather, Bayleys Hibiscus Coast are well-placed to perform for you, if you are thinking about your property needs at present and are looking for a professional to give you some no-obligation advice, please feel free to contact us today.

1-(2).jpgMTF SILVERDALE GET MOVING FESTIVAL

Gabrielle is excited to be teaming up with Go Run Girls this summer to be their ambassador for MTF Silverdale Get Moving Festival. With four events spread across Rodney, from Warkworth to Gulf Harbour this is a fantastic way to get outdoors and challenge yourself this summer! Walkers, runners, dogs and kids are all welcome to join a FREE Social training session every Sunday at 9am starting on the 5th of January, for more information contact Gabrielle – she would love to see you there!

For more information on the events, check out: http://getmovingfestival.co.nz
For more information on how to train, check out: https://www.gorungirl.com