City Sales Note Some Indicators For Apartment Sales in 2022

High sale prices were achieved yet again in many regions during December 2021 so now is still a good time to sell. The current low number of properties for sale is still putting pressure on purchasers to compete for the limited supply driving prices off the charts in many locations. 

Longer settlement periods have become more common place to allow more time for vendors to find their new homes helping to alleviate pressure, and banks are putting pressure on loan to value ratios and deposits, and interest rates are slowly rising. So, if the time is right for your circumstances, now is a very good time to be selling a property. 

A significant market headwind is the changing lending environment. One element of this is mortgage rates, which have been increasing since the middle of the year. Kiwibank chief economist Jarrod Kerr says at the start of the year a two-year rate in the low 2s was common, but now finding a two-year fixed rate below 4 per cent is virtually impossible. And they have further to go, with an increase of another percentage point likely across the board, he says. “While that will still be much lower than the double-digit highs of the past, it is a meaningful increase, and it will be shocking to many people who have only experienced rates falling.” 

A real estate appraisal sets the foundation for a property sale and if it's poorly researched in the economic climate of the day, you will be on the back foot from day one, possibly without even being aware of it. Successful property sales in this market depend entirely on the competence of a real estate agent's forward thinking digital marketing, integrity, personal attributes, ability to manage various methods of sale and of greatest value, their negotiation skills.  

The following is a testimonial from a City Sales’ client. 

“Seriously impressed with the client-centred approach, delightful friendliness, ability to listen, to anticipate and willingness to share accumulated knowledge all the while displaying an amazing commitment to their goal; the best outcome for clients. K.A. (VENDOR)” 

So, with this in mind, please take a moment to find out more about apartments in Auckland and apartments for sale by visiting the website at http://www.citysales.co.nz .