One does need to be a rocket scientist (and I’m certainly not one!) to appreciate that Canterbury has and will continue to have a flush economy for some time yet. A citywide rebuild underpinned by a $40+ billion price tag makes reasonably simple economics.
Driven by the key components of the above, combined with positive net migration and an overall citywide housing shortage, it is my opinion that the local real estate market will generally remain in good health over the short to medium term, even with the prospect of rising interest rates.
That aside, it is inevitable that even within such buoyant times there will be periods of hesitation and flatness for whatever reason. Sometimes the market simply needs to “catch a breath” – right now is one of those moments. Here at Harcourts Gold we run a weekly focus meeting that is attended by between 35-40 high performing salespeople. Meeting and rubbing shoulders with those who live and breathe the vibe of the market is invaluable and allows us to analyse, strategize and tweak our approach.
It has been noted that enquiry levels over recent weeks have softened, numbers attending open homes have dropped off and generally the marketplace is more tempered. The bottom line for home owners is that there may not be multiple interested parties jostling for their home and prices paid may be a little more conservative than those of the rampant market that we have become accustomed to/taken for granted.
Some food for thought and just wanting to keep you abreast of what’s happening out there.
Enjoy your week and may the new financial year provide for you more exciting opportunities and challenges…