Home buyers seem to be out in droves but why do the stats not show it yet? A lot of we read in the media is based on activity in the past few months, with a major world events this is not reliable data, even a month out.
People get their funding together then look, they buy. The house does not actually settle for a month.
So how do you work out what is the right price to pay for a home?
Well actually turning up to the auction rooms and open homes does give you some indication. Interest.co.nz, have a great tool under their property tab, which shows you up to the minute auction results.
So whats driving the market?
Three major factors I reckon.
- Returning kiwis – Nzer’s abroad are starting to look back home as a place to start planning to live in again
- Pent up demand from buyers coming out of their temporary holding facilities – some finding the size of their prisons too small
- Low interest rates with a very accommodating central bank – the message being sent that cash is about to get weaker
