Acording to Barfoot and Thompson listings are down on last year, they are also over 30% down on the previous elections. Sales agents in Auckland Property are playing it cool at the moment, saying its “Winter Blues” and normal for this time of year, financial forecasters and independent experts have a different theory.
With the Auckland Property prices soaring, investors and purchasers are wondering how far it can go. This has pushed some people to snap up properties in Auckland desperate to get a step on the ladder, it has also pushed others right out of the market like the infamous first homebuyers.
With the election looming, and the results of this being anyone’s guess, there is doubt in the Auckland property market again which means, auction clearance rates are at a 10 year low, as are listing and prices are up to 20% down in the regions, and 15% down in Auckland.
As a property investor in Auckland, it is a bit of a “wait and see game” we wont know what policy that is being thrown about at political debates will really come through, and how it will affect the owners of Auckland Investment Property.
As Property Managers in Auckland, we don’t pretend to have all the answers. What we do have is a great list of experts we can put you in touch with, who have the knowledge and experience to guide you and your investment portfolio through this tricky time.
Here is a link to a great interview on the issue, short watch but worth it!