The Tauranga’s Housing Market is “HOT”
The first quarter of 2015 has been particularly active evidenced by the volume of House Sales recorded. There is high demand for houses in the below $ 400.0K range, driven by first home buyers entering the market. There has also been strong sales numbers in the $ 400.0K to $ 600.0K range driven by ;
- Aucklander’s moving into the area
- Immigration
The auctions I have attended has seen a number of bidders, which have previously been absent, further indicating the increased demand for homes. In the lifestyle area, there has also been increased volumes and agents have a list of people wanting to buy Kiwifruit Orchards.
The stability of Interest rates (reducing Fixed Home Loan rates) combined with the short term outlook for rates to remain at current levels, is giving more fuel for people to buy with confidence. The Bank’s are eager to assist people to get into homes, with lots of special rates available.
With the below $ 400.0K house value range being so active, I am recommending to all people in this market to align themselves to a Real Estate Agent, and be ready to act quickly (preapproved finance). Some new listings are not even hitting the press, with them being sold within days of agents listing them and a there have been a number of multiple offer situations.
Real Estate Agents are complaining of lack of stock, and are eagerly looking for listings so if you are contemplating a change, it’s a good time.
The feedback from agents is the property market looks set to continue at this buoyant level going into the colder season, which in the past have been quieter.
