New Zealand’s top four real estate agencies have stated that the property market is showing signs of stability and due to the willingness show by potential buyers and sellers, the outlook for real estate looks a tad optimistic.
The housing market in Auckland seems to have reached a silver lining as the market has shown clear signs of recovery and stability in the month of June and July. It seems like people who are looking to invest in property have a moderate term perspective regarding the investment they pump into the particular property.
There were about 2500 new properties over the span of the past two months, which looked like good deals for the buyers.
The markets in Auckland regarding real estate have reached such a point that the prices of property are not proportional to each other anymore. The prices of started to vary according to their location and in some situation the change in prices is completely contradictory to the majority of the area across New Zealand.
The real estate rates have been healthy and even rent for properties have achieved an increase in prices by 5% or $20NZ per week. Banks have also helped in the recovery of the market by lending loans to people, who can afford them and are capable of paying loans back.