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Positive Property Market

Harcourts Continues to Enjoy Positive Property Market

28 February 2005

January 2005 offered some interesting insights into the real estate market for avid property watchers, according to CEO of Harcourts New Zealand, Bryan Thomson.

Commenting in the February 2005 edition of the Harcourts MarketWatch newsletter, Mr Thomson added that two issues of particular interest included the fact that across New Zealand, fewer properties were listed by Harcourts, however the total number of written sales was almost the same compared to January 2004, and in some areas higher.

He said that the combination of these factors “all points to intense pressure on buyers to secure the best properties.”

However Mr Thomson also noted the continuing importance for sellers to ensure their expectations were in line with the market as “sellers with overly ambitious price expectations will quickly see buyers pass their properties by in favour of more realistic options.”

In summary, Mr Thomson reinforced that due to overall positive levels of consumer confidence, “property buyers and sellers should expect the next few months to be a continuation of the last quarter of 2004.“

ENDS

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