Isn’t it great when it stops raining!

We note buyers at the top end of the market are coming back with force. We have made a significant number of sales in the $2 - $5m range in the last three months. While, activity is definitely returning to the top end, we also note many are converting rental payments to a mortgage.

The overlap of a low interest rate environment, a shortage of homes, buyer demand and home owners observing that it is a good time to sell, is together developing a vibrant Auckland residential market in 2012

The media is reporting it and various surveys are confirming strong buyer interest in Auckland. Certainly we are experiencing high interest on most of our marketed homes. Last week saw 11 of our 14 Auctions sold.

It’s busy. There is no question that the lack of home development over the last 2-4 years is starting to show in the supply/demand area. We do note however that buyers are particularly selective.

The year is developing around us fast. We’re enjoying a very active market. It’s clear there are many determined purchasers in the market, consequently most vendors are receiving strong enquiry.