The Real Estate West Auckland sales figures for June reveal that overall the market is positive we are still subject to seasonal fluctuations.

Across West Auckland there were 296 real estate sales with the median days to sell being 39. So far this year there have been 1597 sales in West Auckland compared with 1379 for the same period last year. Nationally there were 5229 sales in June with a median sale price of $360,000.

Although sales numbers are down slightly on the previous month, this is the result of a lack of houses available for sale. There are plenty of buyers, in the past month a property I listed on Te Atatu Peninsula had 23 buyer inspections in the first few days, eight offers and a cash sale.

One of my colleagues listed a property in Te Atatu South and over the first weekend of open homes had 35 inspections resulting in six offers and a sale. Both these properties were in the $400,000 to $500,000 price range, which in this area is extremely buoyant at teh moment.

Real Estate West Auckland: If Buying

Not all of the west is as sought after as Te Atatu currently, but if you are looking to buy you must be prepared to act quickly and if necessary compete with other buyers. The overwhelming feedback I am getting from buyers is that prices are going to rise so now is the time to buy.

Certainly the newspapers are reporting rising prices and the market evidence is clear in Auckland prices are on the rise. The mood of the market had changed, the banks have eased their lending criteria, opening up more buying opportunities so whether you are buying your first home, moving within the market or buying investment properties now is the time to act.

Real Estate West Auckland: If Selling

There is no doubt there is a shortage of properties for sale in many areas and in many ranges. Twenty plus buyers to an open home is very unusual for the West Auckland market. How long this will last is the unknown. I am certainly recommending that now is a great time to sell. All markets are controlled by supply and demand, if supply is limited and demand is high, prices rise and that is the current situation. The other major factor that is influencing buyers is the presentation of the home. Well presented homes are attracting greater interest from buyers.
Sold stickers are everywhere, don’t wait for spring, sell now.

Interest Rates:
The time is drawing near when you have to make a decision about fixing your mortgage interest rate. Over the past year it’s been easy, floating was the best option. It is highly unlikely that the banks will start increasing their fixed rates before the floating rate starts to move.

So start having the conversation with your mortgage broker or bank manager. Even if you hedge your bets a bit and fix some of your mortgage for 2 or 3 years and leave a portion floating that may be the best option for now.

I believe that in the current climate if you leave the decision till the end of the year you will probably be fixing at a higher rate than what is available now. Seek the advice from the experts you trust and act accordingly.