This from the New Zealand Herald yesterday.
Properties in NZ are selling in a record low average 25 days this year. Last year the average was about 35 days. The 4 years before that it was averaging 50 days. (August sales)
So if you are in NZ and you see something you like, dont hang around or it will be snapped up by someone else. Not exactly a buyers market at the moment.
The same article also said that the current boom is excepted to last for at least another year.
Now – where did I put that crystal ball. I know it is around here somewhere…
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi Andrew
Perhaps your posting might have been better in NZ Suburbs.
Fortunately not all areas are having their property sold as fast as the newspaper made out.
In some areas which have a slower turnover, the vendors appear to be holding out for a higher price while waiting for the big centre bubble to reach them.If +ive cashflow properties are still available in Auckland in particular, why are the property hunters not producing as many bargains for their respective web sites as they were earlier in the year.
Mind you there has been very little movement in interest rates by the big banks over the last few weeks.
And with NZ’s appreciating dollar aginst the US dollar there is now talk that some people would like the Reserve bank to reduce interest rates again.
Yep Andrew, that crystal ball is looking interesting.
When is your next newsletter due out, Andrew?
The Warriors by 1/2 point on Sunday.
Regards
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