There has been an abundance of media comment about the affect the - TopicsExpress



          

There has been an abundance of media comment about the affect the Reserve Bank’s adjustments to Loan to Value Ratio (LVR’s) has had on the real estate market. The requirement of having a 20% housing deposit for most borrowers has certainly reduced the number of first home buyers, many of whom have had to put their home buying intentions on hold while they bolster their savings. It would be fair to say though that the new restrictions have probably had a greater impact on the Auckland market than in the central Wellington area that is serviced by Tommy’s city office. Like any policy changes, new lending restrictions sometimes take a little time to work through the system. It would not surprise me if a greater impact of the changes became apparent in the months ahead. After all, while first home buyers may not constitute a large portion of inner city buyers, they do start a chain reaction that in turn creates buyers for higher priced inner city property. Our experience in recent weeks however, is that the city and suburban market has been strong, with generally good buyer enquiry and a steady level of sales being transacted. Looking ahead to pre and post-Christmas trading, we can expect another 6/7 weeks of good real estate activity, with buyers looking to establish themselves in Wellington ready for the start of 2014 when new employment and educational opportunities kick in. For home owners considering selling in the early New Year, mid-January through to March is a period that has historically produced some of our best selling months. The next few weeks then are an ideal time to prepare your home for sale. This is also a good time to work alongside Tommy’s and to have your marketing plans finalised and set up ready to take advantage of these good selling months
Posted on: Tue, 29 Oct 2013 03:49:18 +0000

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