November ready for action in market
November is likely to be busy for the residential property market, as homeowners who have been in wait-and-see-mode for the last seven months start to move.
Thursday, November 6th 2008, 3:52PM
by The Landlord
“We’re listening to both buyers and sellers who have felt the frustrations from the last few months of uncertainty tell us they’re ready to unleash,” says director of HomeSell, Kirsty Gillespie.“Property prices are more affordable than they have been for many years and a decline in interest rates has made it an attractive time to buy for those with a good deposit and good incomes. Some investors are having difficulty borrowing the amounts they need for large scale investment which is also good news for the ordinary home buyer.”
Gillespie cites three other reasons why the pre-Christmas weeks will be picking up momentum after a lack-lustre year:
- The general election, which traditionally has homeowners holding off on major decisions, will be over
- Parents whose children may have missed out on the high school of choice endeavour to move into the desired zone
- Low share prices and world economy fears often result in people investing in the traditional trusted ‘solid’ purchase of bricks and mortar.
The release of Quotable Value’s and REINZ’s housing numbers next week, will no doubt shed some light on predictions of the housing market.
To find out what The Landlord has to say on the topic, click here.
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