Market Comment – April 2019

Despite sales slowdown, steady demand bubbles under surface

Let’s not beat around the bush: the current market is somewhat unpredictable, and properties are taking longer to sell. But despite a slight drop off in the number of apartments sold per month throughout the inner city, a steady demand still bubbles under the surface. The difference is buyer behaviour, they’re spending more time researching before making any big offer or purchase decisions.

With this attitude impacting the urgency for inner city abodes, we’re noticing that properties are selling faster when taken to auction – the finite date of the auction day appears to get buyers to take action.

In the wider property landscape, the potential introduction of a Capital Gains Tax proposed for 2021 is making some investors think about exiting the market early. At this stage, this is a concern to only a small number of investors that we’ve dealt with. However, listing numbers remain strong because of this news.

To wrap up; in a relatively active yet slightly unpredictable market like this, agents are having to work much harder to secure successful sales. But while we knuckle down, there are some very exciting opportunities for motivated buyers and sellers out there. So, if you’d like to chat to one of our experts about how best to navigate this current situation, get in touch – whether you’re buying, selling or investing in Auckland’s apartment market.