Christchurch property update – supply eases market

supply-demandTypical New Year vigour has spurred the market into action with prospective purchaser’s circulating in good numbers who generally are not holding back to secure that right property once identified. It is also fair to say that along with buyers being out in force, sellers have also moved up a cog, wasting no time to put their homes on the market following the festive season. As a consequence there is a large quantity of quality housing on the market which inevitably provides plenty of choice for buyers. Feedback from the buying public supports that they are being a little more selective, making comments like: “but the one down the road…”, “we’d be happy to make an offer but… or “I wouldn’t pay that in this location…” Such comments are much rarer when supply is low.

Listings – 2 to 1…
Heading into the February as I look at our Parklands branch office listing board new listings are exactly double to the number of sales – a trend that was even more pronounced in January. Time will tell but already I am noticing some properties are requiring more attention and focus to ensure that they get noticed and generate enquiry, not to mention foot traffic. With higher numbers it is easier to get lost in the crowd.

Buyers enjoy choice…
For a change purchasers are relishing having more choice, being able to make comparisons and not having to make a decision on the spot in the fear of missing out. More choice means more time and while a seller is always keen to secure a sale quickly with minimal inconvenience, there are signs that buyers are enjoying a bit more bargaining power than they’ve had in recent times. You’ve probably heard me say it before: “like kids in the lolly shop, buyers can’t make up their mind because they’re spoilt for choice”.

Great time to buy…
If in fact these are the early signs of an easing property market, this clearly spells opportunity for buyers, who can purchase their next home or investment in a more temperate market, make a more educated decision and hopefully not having pay an over inflated price.

Yes, now is the right time to get serious about moving your property buying plans into the next gear!

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About Peter Griffioen

Peter Griffioen - or simply Griff to those who know him - has an established reputation as a high-producing Harcourts Canterbury salesperson. With a focused approach to customer service you can rest assured that you are in good hands, whether it be a relaxed chat about the state of the market or an in-depth discussion regarding your next property transaction. The key advantage of engaging Team Griff’s services is their local knowledge and experience. Currently in this post-seismic era, it is vital to have true professionals working on your behalf, ensuring that you are guided through the process professionally and with a caring approach. The advent of the ‘as is, where is’ market means specialised expertise are required and Team Griff has taken it on themselves to both understand and explain the pros and cons of this now accepted sale/purchase option. For over 26 years the Griff brand has become synonymous with achieving results. Griff now prides himself with his five member team and takes much satisfaction from empowering them to both achieve and reach their own goals. A team with a proven track record placed with the highest ranking Harcourts Million Dollar Club members, exceeding the $275m level. Such accomplishments highlight the team’s exceptional marketing and negotiating skills. Team Griff are recognised as industry leaders for their online presence and regular blog posts of current and relevant real estate information. E-marketing and readily available property specific detailed info means Team Griff’s clients have the edge when it comes to selling their homes, not forgetting purchasers who benefit first hand. A simple Google search says it all – the Griff brand ranking with the most frequent. Griff’s life focus extends beyond business, with quality time and fun being high priorities, while mountain biking, boating and fishing provide that vital time out. His Christian faith is his anchor for daily living, and his community is important to him. For a team approach to optimize the result for your next property transaction, be sure to talk to this award winning team - synonymous with hard work and results! Griff and his trusted team welcome your enquiry today.

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