August already and inching toward spring! Whilst we have had a good winter post-COVID we are all smiles knowing spring is just around the corner, but we are all feeling a little waterlogged after the last few weeks of heavy rain.
We have a very big first home buyer market here in Rotorua who directly compete with our investors. With high demand for rental properties and landlords getting a good return on their investment, demand is outstripping supply. In our market it is proven that the nicely presented homes priced right move very quickly with numerous properties having multiple offers presented on them. Although multi-offers are not ideal for our first home buyers, most of them are not in a position to be cash unconditional buyers at Auction either so this is potentially a better option for them.
We have new salespeople starting at EVES Rotorua in the coming weeks, and this will add to our already exceptional team to work with vendors out there who are looking to transition to their second home upping the supply for the first home buyers. All this being said and with COVID still looming, three weeks of winter left and an election just around the corner Rotorua’s property market is still looking very strong.