MARKET COMMENT AS AT 24th June 2019

With the shortest day of the year now behind us, for many it will be a time to wrap up warmly and seek the comfort of our heated and insulated homes as we hunker down until the worst of the winter weather has passed by. For others though it may well be a time to make housing decisions, to move from one residence to another for convenience or family reasons or it may be a move that is motivated by employment, career or educational opportunities. It is a fact of life though that life doesn’t stand still and particularly in and around Wellington, real estate activity never stops even in the depths of winter.

Many home owners who have a choice will prefer to offer their homes for sale in spring or summer but in Tommy’s view, winter has its advantages as a buying or selling time. From a home buyer’s perspective, you will view properties when the sun is least effective and any areas of dampness or outside surface water will be more evident. If you like a property in the winter there is every chance that you will love it in spring and summer!

When selling a home, the vendor is always in competition with other properties that are on the market at the same time. Every year, stock levels reduce over the winter months yet there are still home buyers looking to make buying decisions and this scenario can work to the home- seller’s advantage. Tommy’s is of the opinion that if you are contemplating a sale, capitalize on a market where there is a reduced level of competition and don’t be deterred by adverse weather conditions.

Although home buyers appear to be taking longer to make buying decisions, June has continued to produce acceptable sales levels and we see no reason why this can’t continue through the months of July and August. Finance rates are favourable, there are still buyers anxious to make buying decisions and Tommy’s is ready to manage your property transactions at all times seeking the best possible outcome as your agent.

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