Most New Zealanders are pretty savvy about international events.

In a recent survey of clients it was found that world events would  have an impact on Real Estate in New Zealand.  How does this “global perspective” relate to our domestic Real Estate market?

It appears to be a matter of confidence or rather lack of confidence in world economics that is making buyers cautious.  This state of mind appears to be true for most of New Zealand but not for Auckland.  The big smoke seems to have a mind of its own with property prices holding firm or showing small increases.  The rest of us are suffering a pretty flat market.

Northland property prices are down around 17% from the highs of 05/06.  The recent rating valuations in Kaipara have come well down.  Some properties are even showing a 35% drop in rating valuation.  After 5 years of relatively low volume and value in sales turnaround, many vendors have adjusted their thinking to meet the prevailing market conditions.

With these factors in mind goodGround is expecting a challenging but improving year for Real Estate in the North.  We expect to see continuing good sales of lifestyle properties, a small lift in rural sales and an increased volume of coastal holding changing hands.  The residential market is showing signs of recovery with houses selling rapidly when they are priced near valuation.

At goodGround we wish you all a very happy New Year and we will be working hard for you,  to make 2012 the best year yet!