Is 2016 A Smart Time to Sell Your Auckland Property?

Is 2016 A Smart Time to Sell Your Auckland Property?

Auckland real estate sales results for March have just been released and they suggest that the local property market is on the increase again, with the median Auckland property price up $100,000 year-on-year and sales volume up 67% over February 2016 (Real Estate Institute of New Zealand figures).

Similarly, the latest Trade Me Property Price data shows a 2.1% monthly increase in its Auckland Property Price Index for March 2016.

Yet it was just a short time ago that there was plenty of talk about a slowdown in the Auckland real estate market, as a result of the various measures which were implemented by the NZ Government, taking effect in October 2015, in a deliberate effort to dampen price inflation in the market.

So how effective have the Government measures been at reducing demand in the Auckland real estate market?

Do the March property sales figures represent a resumption of growth trends – or are they simply indicative of pent-up demand following the traditional December/January slowdown?

More importantly, for those considering selling an Auckland property, is 2016 really a good time to do so?

Auckland’s UP Real Estate has compiled an in-depth report on the 2016 Outlook for the Auckland Property Market, which examines the underlying factors driving the Auckland real estate marketplace and considers the implications for those with property to sell.

The report also reviews the impact of the new NZ Government measures and what they have meant for property sellers.

As UP Real Estate managing director Grant Lynch notes, “There are at least a dozen underlying factors driving demand in the Auckland market. Those considering selling their property should review those factors and determine their own best course of action in 2016.”

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