Rubbish, rubbish and more rubbish goes the biline to Anne Gibson’s sensational headline in the NZ Herald of Saturday last – House prices at 10-year high! http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10609449
The talking up of the market by the Real Estate Instutute president is down right naughty and misleading. The real truth is that sale numbers are only reaching 50% of numbers acheived at the high of the last boom and more disppointingly have dropped dramatically in Hamilton at least.
Last year in September sales of dwellings in Hamilton were 194 and this month in the supposed boom we have done 20 more wow time to celebrate!!!! In fact Septembers sale numbers of 214 are the lowest for 8 months down from a peek in April of 259 and down from September’s 247 (-13.4 % from last month or a wopping 17.4 % down from the April high).
Presently residential salespeople active in the Hamilton market total 240 and with 214 sales and with the top 20% of agents doing 80% of the business you can see that many agents are starved for income and opportunity.
So I say to Mr Mcdonald of the Real Estate Institute – keep it real!!!!