Ilse Evans Reports "Crazy Hot Market Right Now"!

Ilse reports that listing volumes are the lowest she has ever seen, with fewer than 1000 listings on the North Shore, with buyer demand “crazy high”. Ilse recently sold a property with a pre-auction offer of $2.7m after five days. The auction was brought forward, and the property sold for $3,101,000, with four bidders – a crazy hot market indeed! 

Amid a global pandemic, Kiwis are lining up to buy houses, meaning there aren’t enough houses to meet soaring demand. During a quiet winter, real estate agents in the country’s biggest market have reporting auction results that have exceeded expectations. 

Independent economist Tony Alexander runs a regular survey to find out what is happening at the coalface of a range of business sectors. He said a key point to emerge from his latest survey, released on Monday, was that respondents in the housing sector, including accountants and valuers, noted more concerns than he had seen for many years on how panicked people were about the need to buy property, the risks being ignored, and the debt being taken on. 

Respondent comments described the interest in property in such terms as “totally manic”, “very bubbly” and “bullish”, with one respondent saying it was the most aggressive market they had experienced in more than 30 years, while another said the market was characterised by “crazy prices, very few listings and stressed-out feral buyers”. 

So, with this in mind, please take a moment to find out more about property appraisals Takapuna and property appraisals Hauraki by going to the website at http://www.ilseevans.co.nz .