Big weekend predicted for real estate under Level 2
“Listings are going live and open homes will be busy this weekend,” says Tim Kearins, Owner of Century 21 New Zealand
“Our offices south of the Bombay Hills are seeing quite a lot of pent-up demand as the rubber hits the road again. Listings are going live and open homes will be busy this weekend,” says Tim Kearins, Owner of Century 21 New Zealand.
His comments follow most of the country going into Alert Level 2. The Auckland region remains in Level 4, with Aucklanders’ hopeful of at least Level 3 next week.
Mr Kearins says under Level 2 open homes, private viewings, and auctions can occur but must meet all public health requirements including limits on the number of people that can attend. Open homes and indoor auctions are limited to 50 people and outdoor auctions are limited to 100.
The Real Estate Authority advises that this time round under Level 2 all properties must have a NZ COVID Tracer app QR code throughout the sales process. Mask wearing is also required for anyone aged 12 years and over when entering any property.
The Century 21 leader says REINZ’s soon to be released Monthly Property Report for August will make interesting reading given the whole country was in total lockdown for the second half of August. Nonetheless, the previous report for July showed the real estate market incredibly strong for the middle of winter.
“Let’s not forget that July saw median house prices across New Zealand increase by 25.2% to a record $826,000 in 12 months. The jets were starting to cool in some areas but given the record low number of listings nationwide, demand and prices will remain high this spring,” he says.
Century 21’s Auckland agencies and agents are looking forward to safely turning Level 4 enquiries into some measured action. Under Level 4 they continue to field enquiries about listings and have been giving virtual appraisals via video calls.
“When it arrives, Level 3 will make a big difference for Auckland. Although it will take an appointment, with strict protocols in place, Auckland buyers will at least be able to view properties in person,” he says.
Lower alert levels, he says, make buyers more comfortable, and confident, to make decisions which will see more transactions inked.
“Auckland’s real estate sector has operated very safely and effectively in Level 3 before and is looking forward to doing so again. Then hopefully it’s not long before Auckland jumps down to Level 2,” he says.
Century 21’s website and listings enjoyed solid traffic during the nationwide lockdown. Further, Mr Kearins says the past few weeks have reinforced the importance of quality online marketing given prospective buyers have been largely house bound.
“With the number of competing listings at an all-time low, interest rates at rock bottom, and prices still very strong, this spring looks set to be hot. With these dynamics, I wouldn’t be waiting until summer to sell. I’d be listing now,” says Tim Kearins.