Private Sales Up As Home Owners Become Competitive

For immediate release
26 July 2007

Private Sales Increase as Home Owners Become Competitive

Winter is traditionally less busy for the property market but not for the private property sale market, according to the country’s largest and longest running private sale property company.

HomeSell Auckland franchise owner Chris Caldwell says listing numbers are up on 2006.

“I think this is a direct reflection of owners acknowledging that the increases in interest rates are hurting home buyers.

“By selling privately, home owners can price their home slightly more competitively than those who use agents and still end up with more money overall,” said Caldwell.

HomeSell expects this trend to continue as the property market tightens and vendors need to find ways to maximise their return on investment.

Managing director, Kirsty Gillespie, says “private sales have doubled since HomeSell began in 2002 with about 30% of the market now non agency assisted sales. From our point of view it’s a win-win situation for everybody… well everybody except real estate agents I guess.”

ENDS

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