February 2005 real estate results for Harcourts

21 March 2005

February 2005 real estate results for Harcourts revealed an ongoing trend of continued positive activity, according to CEO of Harcourts New Zealand, Bryan Thomson.

Commenting in the March 2005 edition of the Harcourts MarketWatch newsletter, Mr Thomson advised that with the number of new property listings continuing to sit below the numbers which were being listed at the same time last year, buyers in particular had to be “active and ready to move” to secure their desired properties.

In terms of recent interest rate rises, Mr Thomson noted the Reserve Bank announcement appeared to be having little effect on the property market as “the residential property market is driven by several factors, including the key factors of job security and income rather than just interest rates.”

However he cautioned buyers to look closely at not just their borrowing limits, but to also carefully consider their ability to service home loans in this climate of interest rate changes. “Applying this advice prior to inspecting properties will also ensure you view properties that match your buying ability.”

With regards to those selling property, Mr Thomson reinforced the importance of taking the right steps to maximise their sale outcomes. “While buyers are certainly active and competing hard for good quality properties, it is important that your property is well promoted and your expectations are in line with the market based on sound market advice from a professional sales consultant with the latest data.”

ENDS

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