The constant barrage of media hype around ever increasing house prices is becoming quite confusing for many homeowners. The concept of establishing value by extrapolating a percentage premium on top of a home’s C.V. is fraught with problems and we note in some cases, costing vendors a sale of their home at the market’s value of it.

It’s interesting watching various ‘bidding tactics’ at Auction. Most often comments we hear are “I don’t want to start. I’ll just see where it goes or I’m not going to bid.” The reality is if you want a property, you’re going to do something sooner or later. Bidding allows you to see exactly what you’re dealing with there and then. If there’s no bid at Auction, a post Auction offer is required - often as one of several in a best ‘foot forward’ scenario, one generally not enjoyed by buyers. Best to bid.

Improving employment numbers, an IMF pat on the back and a low interest rate environment that seemingly has no end in sight are all contributing to a general perception that Auckland house prices will continue to firm. Generalisations can be confusing however, as the market’s reaction is very specific – large premiums on sale prices are not generally available.

Buyer intensity in the market continues unabated. Most home owners are enjoying high interest from buyers who are reacting quickly and competing hard.

School holidays are traditionally a slower time for us in Central Auckland. This year is however proving an exception. We are particularly encouraged by the increasing number of homeowners inviting us to appraise and list their homes for sale.