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Apartment Report From City Sales

Friday 19 January 2018, 7:20PM

By Beckie Wright

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“KEEP CALM AND CARRY ON

2017. Thank god it’s over.

Political instability across the globe, political turmoil, a country held to ransom (yet again) and plus pulled by the banks. This was the year to look at past crises and keep a cool head.

It was a fitting chaos to celebrate our 20th year of success, notching another successful outcome to a difficult year.

This quarter we urge you to look at the December graphs with a grain of salt. The massive spikes are due to an erratic market, low volume of sales and our new million dollar apartment market picking up some serious steam. Another of our predictions reigning true.

 

“Investor hesitancy

And who would blame them? We have more buyers in our auction room than we’ve had all year but their hands are in their pockets and the expressions are like a possum in headlights.

Why?

It has been a hard period to make sense of…

A novice government says they’re loosening LVR restrictions but tightening immigration. Does one hand know what the other is doing? A plethora of committees won’t amount to anything much in our opinion. Immigration committees, housing committees, capital gains tax committees… all points to a lot of discussion but signifies little action or change.

 

“Summer outlook

As always, we like summer better than winter. There’s a bit more substance to that this year. Listings have risen dramatically from the market wide-trickle which held through winter and spring. But though most vendors are committed, meeting in the middle has been tough for buyers. Our brokers are working harder than ever before in the negotiation rooms.

The good news is we are seeing more stability and positivity, suggesting this summer may be less turbulent than the year that’s been.

The 2017/18 summer has been well and truly earned. Take care on the roads and have a safe and relaxing break if you can.”

 

For more information on apartments in Auckland, property management Auckland and new apartments Auckland please go to http://www.citysales.co.nz