Hi guys
being in New Zealand means its hard for me to see whats happening in some of the areas i own in. I would like to hear what people are seeing in Morwell, have prices flattened out? are there more homes for sale there now than last year. The last i heard was there wasn’t much at all under $100,000 is that still the case.
Just thinking about selling some more homes in Oz in the next financial year, so getting all the goss i can.regards westan
Westan
Morwell right now I would say is in the transition between topping out and declining. More and more houses are appearing on the market but sellers are still expecting top dollar (a few are still getting it which encourages the rest – but it is slowing). Cheaper houses (ie those under $100k) are selling quickly (you see maybe 2 per month) but anything above that magic figure is taking a while. I’ve seen houses in the area on the market for months now where as 6-12 months ago a house would generally only be on the market for a period of a few days to a few weeks.
Rental wise the market has well and truely topped. There is a flood of houses and not too many tenants. Believe it or not the most popular rental at the moment is the 2br unit which is unheard of down here. We’ve had a 4br and bungalow house on the rental market for almost 5 weeks now. The longest this house has been empty previously (over the last 4 years) was 2 weeks and that was because it needed a good clean up and I wouldn’t let the rental agent in until is was completed.
Don’t know if I answered your question clearly enough or if I’m too generic. If you need anything more specific just drop me an email. pepptalk at yahoo.com or PM me
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