Leonie's blog

Wow - another great week in real estate AND I have been invited to be on a panel at the Harcourts National Conference speaking about growing your business by using technology.  Its exciting to be part of a Real Estate company that embraces technology (check out the bluebook online) and to be recognised for being leading edge.

Quick Update

1. Prices up and flattening – REINZ figures released show Wellington property prices for March 2010 were 7.8% above those in March 2009 after a good recovery, though showing signs of flattening out.  Uncertainty continues to weigh on the market with upcoming tax changes and interest rate rises, though a healthy pool of buyers is out there.  All eyes will be on the government’s budget on 20 May to see plans for boosting economic growth.
2. Ticking the boxes – sellers who want the best prices (in this market) need to excel in the areas of presentation, marketing (especially photography) and also need the best marketing strategies.  I have just worked with a client who ticked all the right boxes and they are very happy with the price achieved. If you know someone thinking of selling put them in touch. 
3. Economy growing – business confidence is up**, and economists expect employment and economic growth to improve over the next year.  With approx 23,000 new dwellings needed each year, and only 14,500 new dwellings being built***, a housing shortage is expected to prevail, and good property remains a good investment.  As a property investor myself I’m happy to share what I have learned - for free advice and tips, click here or drop me an e-mail. I’m always happy to talk property.

 
* Real Estate Institute of New Zealand Monthly Housing Price Index
** NZIER business opinion survey (March quarter)
*** Tony Alexander – BNZ Weekly Overview – March

As we welcome the rain we also welcome many sales and offers!  Such a great part of my day to give settlement gifts and referral rewards :-) It shows that as per normal seasonal fluctuations, buyers are wanting to buy now - and then settle into the couch for the winter months.

1.    Property values up - property values are up 6.6% for the Wellington region*. See my website for free and updated market sales information for April (www.leoniesnook.com/real-estate-resources). If you or a friend or work mate want to know where your property sits in the market, give me a call for a free and no-obligation appraisal. I work all over Wellington!

2.    Interest rate rises may be delayed - business confidence is up for the March quarter with a net 36% of firms expecting conditions to improve in the next 6 months.** This and a slower economic recovery (than expected) has economists divided on whether interest rate rises will start in June or September.  Either way, if you’re thinking of buying or trading up, now is a great time to get in before rates move.

3.    Cautious buyers = competing sellers - buyers are out there (I’ve had 5 houses go under offer in the last 6 weeks), but there are more properties to choose from and buyers are taking their time.  Sellers have to beat their competition to get the best results in THIS MARKET. This is where I come in with leading edge technology, marketing and approaches.  If you know someone thinking of selling put them in touch - they will be pleased with the results and you will enjoy helping a friend and receiving a generous referral reward (leonie@leoniesnook.com).

 *Quotable Value – 3 months to 31 March 2010 compared to the same period last year
** New Zealand Institute of Economic Research (NZIER) March quarter business opinion survey, seasonally adjusted