Accepting the fact that April last year was our great lockdown, April was the strongest it has been for 5 years.
Inventory levels continue to fall and whilst adjusted for the seasonal norm of the autumn/winter period they still continue to place still more pressure on the housing market. Low supply and high demand holds prices!
There have been less investors in the market for April but this could be as a result of the LVR restrictions which have taken effect. Investors could also be taking stock of the impacts of the government restrictions before deciding whether to invest again or sell.
The average age of the first home buyer has remained pretty static at 34 over the last three years – this could be due to more accessing their Kiwisavers for the all-important deposit but also a reflection that some are looking at compromising on what they are buying to get into the housing market.
GVs are out for homes in the Waikato and Auckland’s are due October and already they are predicting higher values which may mean higher rates bills after all the values of homes in Auckland has risen by more than 30% in the last three years.
Franklin saw a $12,000 increase month on month in the median house price or $188,000 increase in the last three years to median house price of $838,000. Year on year that is a 20.6% increase.
Auckland which we hear so much about in the press for the same period rose to $1,125,000 or 21.6% year on year.
The average days for April rose to 30 from the previous 27 in March much reflected as a result of people taking more time before making buying decisions and stricter restrictions from the bank.
Are you doing research at the moment before buying or selling?
You may want to get our booklet on sales for the region monthly. If you want a copy, then text Victoria your email address and she can send you a copy.
She is after all the Key to your Next Adventure.