Strong Start Bodes Well for 2007 Says Harcourts

Strong Start Bodes Well for 2007 Says Harcourts CEO

22 February 2007

According to Harcourts New Zealand CEO, Bryan Thomson, “January kicked 2007 off in a positive vein and a continuation of the strong activity we saw through December 2006 pretty much right through to Christmas Eve.”

Commenting in the first issue of Harcourts MarketWatch newsletter for 2007 over viewing Harcourts’ January activity, Mr Thomson added that while right across the country the number of properties listed for sale were lower than in January 2006, the actual number of sales in almost every location “was significantly higher.”

In comparing Harcourts activity in January 2006 and 2007, Mr Thomson reinforced one reason for such a variance in the statistics was “basically, January 2006 was a tougher month for those in the industry, versus January 2007 which enjoyed much stronger market activity.”

Following the Christmas break and a range of market predictions on the year ahead from various commentators, Mr Thomson asserted “factors influencing our market in this early part of 2007 remain as they were in 2006. Employment is strong and immigration is even more positive than it was suggesting a continued solid market where buyers and sellers can make decisions with confidence.”

He concluded that the real estate market operated on a simple supply and demand basis, with ongoing demand being shown by both those looking for a home or for an investment. “Ours is a country where people want to live, and live in their own home with smiles on their faces.”

ENDS

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