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Property Market Report

Graham McIntyre ‐ October 21, 2019

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Let’s be sure to understand that the market has reset, and the time to buy at discounted prices is all but over. What I mean by this is that over July and August we saw a lot of property pulled off the market. We also saw a lot of property sold through the last two months. This has balanced the books, so to speak, and we are entering a phase of careful buyers meeting considered sellers. Many sellers are appreciating the market has stabilised and pricing needs to be conservative. Many buyers do not have the wide ranging choice that was on offer in the first six months of 2019. In addition many speculators have rented out their homes and curbed the supply of new homes in order to protect capital gain. Banks continue to be over opinionated and fussy about homes and land titles but without a great deal of reasoning to justify that. It also begs the question how are Banks going to cope with shared ownership under the new kiwibuild debacle. Answer – best of luck with that, another impending fail for kiwibuild awaits. The sooner Government and Council understands that they need to reduce the cost of red-tape, compliance costs and GST on developers and builders to achieve affordability housing the better.

Recent sales for the month:

Coatesville Lifestyle                                $2,185,000

Helensville Residential                              $470,000 to $670,000

Helensville Lifestyle                                  $1,140,000 to $2,400,000

Huapai Residential                                    $886,000 to $950,000

Kumeu Residential                                    $582,000 to $1,190,000

Kumeu Lifestyle                                        $1,500,000 to $2,610,000

Muriwai Residential                                   $1,400,000

Parakai Residential                                   $621,000

Paremoremo Lifestyle                               $1,370,000

Riverhead Residential                               $950,000 to $990,000

Swanson Residential                                $635,000 to $1,090,000

Taupaki Lifestyle                                       $1,300,000

Waitakere Residential                               $590,000

Whenuapai Residential                             $785,000 to $1,341,000

Whenuapai Lifestyle                                 $5,600,000

To ensure you get the very best return on your property sale. Ensure you have the best relationship possible with your chosen agent, agree on a focused marketing plan and an audience profile coupled with a process that will deliver competition and commitment. Failure to understand that this is a very careful and considered market is a failure to complete a sale.

I would recommend that you and I get together and have a chat about the advantages that a Mike Pero solution delivers in services and support to ensure the very best price is achieved in the very least amount of time.

Call me today on 0800 900 700, text me on 0276 320 421 or email me at graham.mcintyre@mikepero.com

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Mike Pero Real Estate Kumeu
327 Main Road
Kumeu
Auckland 0810

Mobile 027 632 0421 Phone 09 412 9602 Email graham.mcintyre@mikepero.com

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