Experts cannot agree on whether the current Auckland housing bubble will continue or the bubble will burst.
interest rate decreases, strong competition between banks for new customers, a serious lack of homes available for ever increasing demand, and rising Auckland immigration numbers are the key price drivers up there. These factors are not expected to change in the near future. Hence the bubble may well continue to expand.
Auckland average house price is now around $810,000, and prices increased about 15% over the past year.
In our Tauranga market the comparable figure is under 6% price rise, and an average house price of $475,000. There’s a steady supply of new homes being built in existing subdivision areas with plenty of capacity for more stock. Demand from buyers outside our region continues.
The comparable advantage of our region’s life styles, plus excellent real estate value for money has never been more evident.
Competition between buyers is becoming more intense. Our successful EVES auction results along with numerous multiple offer transactions are excellent indicators that now is a very good time to consider selling.
Talk to EVES now about how to best promote your property to a keen buyer market.