Tags: market update
Buyers are hedging their bets in NSW in 2010
February 5th, 20102010 is bringing with it a comeback in the real estate market. Suburbs that saw the greatest drop in value over the past couple of years are really starting to come back. Overall, NSW’s property market is about to enter a year of solid growth.
In 2009, the First Home Buyer’s grant stimulated the property sector throughout the global financial crisis, encouraging many first home buyers to get into the market and take advantage of the increased incentives.
Harcourts New South Wales, CEO, Chris Stephandellis said this first home owner’s rush produced a downside.
“Due to the increased competition in the market place, there was a spike in the market, with many sales exceeding asking prices particularly in the Bathurst area,” he said.
“Now, there is a decreased amount of first home buyers in the market because of the Grant reduction in December, and the looming threat of a fourth interest rate hike when…
“Pricing” your Home Unwise in Current Market
October 6th, 2009People currently putting their homes on the market in New Zealand or Australia with a price tag on them are not doing themselves any favours according to Harcourts International Managing Director Mike Green.
Mike Green, Harcourts International Managing Director
In the current environment, where buyers are still cautious and “testing” the market due to uncertainty caused by the global financial crisis, homes with a price tag could stay on the market for a lot longer and potentially achieve less than they would if the market determined the price, he says.
“The current real estate market is rapidly changing, very much impacted on by volatile global economic conditions, and the number of properties being listed for sale is lower than usual too so that’s adding another dimension, namely a build-up of demand in some areas,” he says.
“Given these circumstances it is particularly difficult for real estate sales professionals to give sellers an accurate appraisal…
Tags: house buying, market update, property market
August good, but too soon to talk about housing boom: Harcourts NZ CEO
September 14th, 2009
Harcourts’ August figures show spring came early to much of the New Zealand real estate market, but it’s too early to talk about another housing boom, according to Harcourts New Zealand CEO Bryan Thomson.
According to the final, audited August figures of New Zealand’s largest real estate group, Harcourts’ sales consultants completed a national average of approximately 47% more written sales last month than in August 2008, with a total of 2030 written sales making it the second highest amount since November 2007, Mr Thomson says.
Commenting in the latest Harcourts MarketWatch newsletter he says the largest increase occurred in the group’s Northern region (which includes Auckland) where the volume of written sales last month was a significant 78% ahead of August 2008 and in addition the average sale price was up 11% on the same month last year.
“In three of Harcourts’ other regions there was also an increase in written sales…
Property Focus Newsletter – NZ, Aug 2009
September 1st, 2009
Click below to view Harcourts Property Focus Newsletter for August 2009
