The best time to sell

The best time to sell? When people want to buy. That’s certainly the scenario we’re seeing across the region at present. In October, we were delighted to present multiple offers to our vendors in many instances. Properties have been selling in extremely short timeframes, with some going under offer from the very first open home. This local anecdotal evidence of competition for listings is supported by the national portals – trademe.co.nz just reported that 10 of 15 regions in NZ had record asking prices for residential property in October, and the total number of views of property listings on the site was up 12%.

Industry portal realestate.co.nz also reported active buyers, with more than a million unique users on their site, but both new listings and the total number of homes for sale were down on the same time last year. Supply and demand economics dictate that the less there is available for purchase, the more competition there is on stock and subsequently prices can be driven upwards.

If you’re considering a purchase, it’s never been more important to be registered with Colliers International as a potential buyer. Let us know the criteria of what you’re looking for, and the price range, and we can sign you up for our Property Alerts, giving you immediate notification when new listings come to the market that may interest you.