Read the article or watch the video.
Market conditions in Tauranga
The market this year has been really positive with big number of sales each month. March had the highest number of sales we have seen for years with 184 sales. April was also high at 144.
It’s interesting looking at the curve of the sales in the price ranges. We see the usual good numbers in the $300,000 to $350,000 range. There’s also still a lot of sales in the $400, 000 to $600,000 range. These numbers used to be a high, but is becoming the new normal.
Out of town buyers
We’re seeing high numbers of out of town buyers, and with that you typically think Auckland buyers. There are a noticeable number investor buyers from out town also.
In the last few weeks we’ve spoken with a number of investors from Auckland buying multiple homes with no intention of living here.
Tauranga House Prices
The demand means prices may have crept up a little, but on the whole they remain pretty stable. We certainly haven’t seen the extremes that Auckland is experiencing. Buyers are still very discerning around how much they will pay.
Genuine buyers are being frustrated at the difficulty in finding a home. Stock levels are low relative to the number of buyers. We have seen a little more listing activity just recently. But it’s still turning over quickly.
If you’ve thought about selling your home, now is a very good time. Even though it’s winter the buyers are there.
If you own an at risk home, the plaster/monolithic home, and you’ve thought about selling, then now is definitely the time to be going on the market.
Price is a funny issue at the moment. The majority of the market is solid but hasn’t jumped up. We aren’t seeing the Auckland price rises by any stretch of the imagination.
What we are seeing is the odd house selling for more. Someone comes along who is willing to spend to get the house they want. On the whole there’s no real trend up. Buyers are discerning and are paying market value.