Harcourts NZ CEO’s comments include a simple truth
Bryan Thomson Harcourts NZ CEO has just made his monthly comment:
http://blog.harcourts.co.nz/2009/06/02/may-sales-activity/
“The first indications of real estate sales activity during May 2009 are beginning to appear and for Harcourts in New Zealand they are a continuation of the trend we have seen for the majority of 2009. Written sales numbers across the country for the month of May are looking to be 35% ahead of May 2009 with the standout location being the Central North Island where numbers are a significant 74% up on last year through to the South Island provincial areas where numbers are more in line with the previous year being 10% ahead.
These results are both a reflection of the sound market we are seeing currently and also the abysmal market that was in play during May 2008 in many locations.
As already reported by Alistair Helm on Unconditional blog new listing numbers remain low putting pressure on buyers to source their new property.
My advice for both sellers and buyers remains as it has always been, if selling, buyers are available, so market well and have realistic price expectations and you will succeed. Buyers, you need to make sure you are in a position to make decisions both rapidly and intelligently otherwise you will miss the best opportunities.”
Levin listing levels are still at strong levels with 422 listings online at http://www.realestate.co.nz/residential/all/levin - I’m still waiting for the fully confirmed sales figures for May 2009 …I’ll wait before confirming these.
We still have a HUGE amount of stock for sale – and among them are a good range of small investor suitable properties right through to substantial family homes. So what does this mean if you are selling now?
I might upset a few people here but there appears to be a gap between Levin vendor expectations and buyer purchasing power.
Mr/Mrs Vendor if your expectations are above what buyers can borrow (whether because of valuations or 20% deposits required for lending) then buyers simply cannot buy your property.
There is a lot of market commentary supporting falling levels of properties for sale and listing shortages …this is not what is happening in Levin. Are you following National Trends as reported by the media and missing the local trends?
If you feel you might have fallen into this trap – call Mason Parker Harcourts Levin Sales and Marketing Specialist for a free appraisal. We’ll openly discuss the Levin trends, National trends and how to effectively position your property to sell.
And watch out this week for the NEW “LEVIN PROPERTY REPORT “
June 03 2009 02:10 pm | Bryan Thomson Harcourts NZ CEO and Levin Real Estate Statistics and Property News and Trends and www.masonparker.co.nz