After 2 months of good average volumes of house sales in Feilding in June and July, the volume dropped in August and September locally through all real Estate Agents. According to the BNZ/ REINZ national survey of last week, by far the main reason (32.8%) holding Buyers back is the poor quality of listings.
This means that anyone genuinely wanting to sell is provided with a good opportunity right now as Buyers are waiting for new listings to enter the market. The survey also states that there is a surge in the number of first home Buyers that believe that now is the right time to buy. The ease of borrowing, low interest rates and improving labour market will no doubt account for that.
The median house sale price for Feilding calculated over 3 months currently sits at $210,000, and I would expect this to rise again into the $220,000 – $250,000 range. The low volume means that our median jumps around more than in a larger city.
Don’t hesitate to contact me for a free no obligation market appraisal and presentation report.
Kind Regards, Michael