Where's the Real Estate Market Heading?
Spring 2011 / Summer 2012

As usual we have seen a large number of properties come onto the market for Spring with the
possibility of even more coming onto the market as we head into Summer. Supply is now exceeding demand resulting in the market now becoming a buyer's market.

Properties that tick all the boxes for buyers will still achieve good sale prices for their vendors
however those that don't will either not sell or their vendors will need to lower their sale price
expectations to achieve a sale.

The financial situation in Europe appears to have been completely disregarded during the winter
months here in NZ with some significant sale prices being achieved during this time when the supply of good property was low.

Now supply is significantly higher and population growth from migration is very low buyers can now afford to take their time about making a buying decision with the confidence that the right property for them may come onto the market in the near future and prices are unlikely to go up.

If the US slips into a double dip recession as some commentators are predicting we will probably see this have a negative impact on our property market where the financial situation in Europe appears to have not influenced our market to date.