Quick news/update - 2nd September 2011

1. Spring arrives early – September usually sees the start of a traditional ‘spring lift’ in real estate activity, with a rise in new property listings coming to market.  Noticed all that pollen on your car? .  Spring has started earlier this year - 701 new homes came onto the Wellington market in August, up 6% on July though still 4% below August 2010*.  The spring lift will be welcome news for buyers waiting to buy but unable to find what they want.  Sellers, it’s great time to bring your property to market with buyer interest levels strong and listings still in relative short supply – act now!  We listed several properties last month and have a number currently being prepared to come to market.  We still have some slots available so if you (or anyone you know) wants to get moving in Spring or Summer let us know to reserve a place (027 518 0008).

2. Market favours sellers…in particular those who help themselves!! - With sales very active over recent months and new listings down, the stock of homes for sale on the Wellington market fell in August to just 19 weeks (equivalent weeks of sale**), our lowest inventory level on the market in 18 months, and below the long term average for Wellington of 22 weeks***.  To achieve the best results in THIS market, you simply must work with a top agent and take the RIGHT approach - our last sale had 53 buyer groups through the property in 3 weeks, 7 offers and sale above RV at 23 days (median days to sell in Wellington market is 45 days***).  While the market is more positive for sellers, these results are down to preparation, smart marketing, leading edge technology, the right pricing approach, and best practice advice, processes and negotiation.  There is a lot a seller can do to improve their results, starting with calling us .  To find out how, get in touch for a no-obligation appraisal and tailored plan (leonie@leoniesnook.com).

3. Smart tips for buyers - If you’re thinking of buying a property check out the helpful tools and resources on our website, including  ‘Top 10 Home Buying Dos’ and ‘Essential Tips for First Home Buyers’.  For investment property, have a look at ‘Buying a Smart Investment’.  We have bought and sold, are property investors as well as agents, and have seen more than our fair share of skip bins and paint brushes.  As valued clients, if you ever need property advice just give us a call (027 518 0008).  We can also refer you to quality and affordable tradespeople.  No add-on charge from us…just service!

* NZ Property Report – August (realestate.co.nz)
** Equivalent weeks of sale, i.e. how long it would take at the current rate of sale to clear all of the stock currently available on the market.
*** Real Estate Institute of New Zealand - Market Trends

Leonie Snook and Steve Welsby, Top Wellington Real Estate Agents

#1 Team Active Real Estate Limited (REAA2088) 2010-2011