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February 2009 has been an exciting month (and theres still more of February left) for Levin Residential sales...
www.zoodle.co.nz and www.realestate.co.nz CEO Alistair Helm predicted on 28 January that the Residential Market would bounce back in 2009 see http://www.infonews.co.nz/news.cfm?l=1&t=104&id=32789
www.trademe.co.nz/property Head Brendan Skipper reported on 15 February a skyrocketing in Mortgagee and Buyer activity on www.trademe.co.nz/property
AND today BNZ Economist Tony Alexander made a couple of interesting statements in his "BNZ Weekly Overview 19 February 2009":
Individually these statements mean little but collectively they indicate a strong shift in perceptions that housing is stabilising rather than falling freefall and that the New Zealand housing market has a demonstrably positive future - given migration into NZ is expected to increase and there is a trend towards decreasing of housing availability.
As a Harcourts Levin Sales and Marketing Specialist, I have also had interactions with a range of active buyers who are borrowing at rates less than 6% - buyers who six months ago were not even contemplating looking to buy. New buyers are entering the Levin Residential Market because housing affordability in Levin is now at a level where rental properties may well be generating positive cashflows.
This seems supported by the noticeable increase in vendor motivation - vendors are making positive actions to sell their homes both in terms of reducing stale prices and investing in Auction campaigns or vendor funded marketing for increased market profile.
The results - an observed swing from seeing more than three times new property listings vs new written contracts each week to seeing more written sales contracts than new listings! This is a very simple indication that the buyer activity is visibly stronger than it has been for some time.
Is this a short term spike or the START OF A LEVIN HOUSING RECOVERY...who really knows? Accurately predicting when markets turn is a skill that would make me millions...but the people who will benefit are those who make positive steps to actively market their property to SELL NOW or those who get pre-approved mortgages and BUY NOW while the Levin Market is full of great properties at simply amazing prices.
If you do not feel 100% ready to take hold of a housing confidence spike/recovery call Mason Parker Harcourts Levin Sales and Marketing Specialist on 06 368 9449 and get ready.
www.noaddedfluff.com or www.masonparker.co.nz