Is Now a Good Time to Sell?
Tuesday 14 January 2020
Knowing when the right time to sell is can sometimes be confusing and overwhelming. To make your decision a bit easier, in this week’s article we are taking a look at some of the key insights from this month’s NZ Property Report:
- The total homes available for sale have hit an unprecedented record low, with only 18,230 properties available for sale around the country. Data shows that there were 24.5% fewer homes available for sale than in December 2018.
- Vanessa Taylor, spokesperson for Realestate.co.nz, says that, “with our population growing at a rate of approximately 60,000 people per year over ten years, significant demand for housing is likely to be putting pressure on our property market.”
- In 2020, the total population of New Zealand is estimated to be nearing or exceeding 5,000,000, so we might see this stock shortage continue for some time.
New listings dropped below 6,000 for the first time, to 5,528 listings nationwide – a decrease of 10.7% since the same month last year. The lack of new houses coming onto the market could mean that Kiwis were more focused on getting through the last few weeks of work and into the festive season than on selling their homes.
So, yes, the ‘New Year market’ is a perfect time to sell; call one of our Summit team today to get a no-obligation, up-to-date appraisal on your home.
