That autumn feel is upon us, days are drawing in and things are that little bit cooler. No doubt the winter bunnies are rubbing their hands in glee looking forward to their winter pursuits. For the summer fans it is a case of reminiscing over what has been a fantastic summer.  

Property market has continued to be very much supply and demand led. Sales numbers for Feb 18 totalled 57 up from 55 in Feb 2017. Sales for the 12 months to Feb 2018, 593 compared to year to Feb 2017, 772 so sales numbers are down year on year. The median sale price is now $1,000,000 as opposed to previous year $850,000. So number of sales down year on year but prices up; the real signs of supply and demand in action.

Last month I mentioned the association with an insurance specialist. One client requested a review and ended up retaining the same levels of cover and reduced premium by just over 25%. Needless to say a delighted client. If we can help simply let us know.

It is interesting to see the dominance of the Auckland real estate market. With sales volumes reducing the banks are suddenly seeing a drop in the number of new mortgage applications, result a slight (and I emphasis slight) change in appetite. Whilst lending in the above 80% LVR space is still restricted (as a result of Reserve bank rules), we are seeing a slight easing in capacity and we are seeing a more aggressive approach to pricing for under 80% LVR approvals.

Well a short and sweet intro to this month’s newsletter, enjoy the read and remember if we can help in any way simply let us know.

Cheers

Charlie & Michelle