What are you waiting for?
The real estate market has not slowed down. It’s actually speeding up!
Here’s some recent data from industry source REINZ –
- Sales volumes are increasing. 8,377 properties sold nationwide in September – which was a 37.1% year-on-year increase compared to that time last year.
- Median house prices rose nationwide by 14.7% year-on-year to a new record high of $685,000 in September.
- The total inventory of properties for sale is now at the lowest level since records began.˜
- The number of properties sold always increases following an election year.
So, we can see that things are racing ahead. Post-lockdown NZ is not shy when it comes to the housing market.
Home buyers are still hunting for great residential properties that enhance their lifestyle.
Plus, the LVR rules were changed back in March, making it easier to borrow. Less LVR restrictions means easier access to capital. Thanks to the Reserve Bank.
Interest rates are also at never-before-seen lows. Lower mortgage rates means less money wasted in interest, meaning people are more comfortable. It also contributes to more consumer spending as people have more money left over after expenses, which is good for the economy.
And then there’s the fear of missing out… As price rises continue and competition increases there is no time to waste. The number of days to sell, combined with record median prices, means it is a very competitive property market.
So many people perceive that it’s either get in now, or get the leftovers – at a higher price.
The NZ real estate market in 2021
While we can never predict the future, we can look at what history tells us.
If the rest of the year is anything to go by we can expect to see a very busy summer and start to 2021 in real estate markets across NZ.
These are signals to act – NOW!
It’s hard to argue with the numbers. Evidently, now is the time to get prepared, get educated on the strategy, and position yourself to act on the investing opportunities that 2021 will present.
Start by attending an online Property Investor Webinar for your region – use the form below to book your free spot.
Remember, with the right knowledge and the right team to support and guide you, you can do big things in this current market.
Don’t miss this once-in-a-lifetime opportunity.
See you soon!
Sue Irons
Director – Positive Real Estate NZ
Property Investor Night – free tickets!