One of the most common questions real estate salespeople are asked, is whether the current market is conducive to vendors or buyers.
Whether buying or selling, it is always good to know what’s going on in the property market, and right now in our beautiful city of Nelson we are in the midst of a market strongly in favour of sellers.
Properties which are located within walking distance to shopping centres and amenities are sought after in this current market – particularly those priced within the $200,00 to $400,000 range. This is largely due to low interest rates, which is enabling first home buyers to enter the property market.
Investors are also actively looking for good rental properties, due to the potential for higher returns on their investment.
There are a significant number of buyers interested in houses which fit this profile, so if you are looking at selling, now could be the perfect time.
*Statistics just released also show housing sales for February were the highest in six years, with 6632 houses switching owners nationwide, worth a total $3.15 billion!
The latest Real Estate Institute of New Zealand figures show house sales were up 7.5 per cent on the same month last year and up 34 per cent on January 2013 (*refer to Stuff.co.nz article for further details).
Personally I have found the high demand for such properties has meant buyers are more flexible, and the serious ones can be willing to negotiate over and above the asking price.
Testament to this is my recent sale of 13 Van Diemen St, Nelson South, which sold for a considerable amount above the GV (Government Valuation). Needless to say, the vendors were rapt with the final outcome!
If you’re sitting on a little slice of Nelson paradise, contact me today to arrange a complementary consultation – and you could be doing cartwheels over the moon as well.