Welcome to our Autumn 2015 market update and overview.
By now, you will be aware My Valuer have moved to our offices at 2 Pandora Road. Pretty hard to miss us if you are driving past!
Feel free to drop into our awesome office and say gidday to the team, and check out our spacious open plan offices.
My Valuer turned five in March. It has been a pleasure to start a business from scratch and operate in the Hawkes Bay market place, and grow the business to have the awesome team we have today.
The team has grown by one, with Jacob Brownlie (above) joining us in February. Jake has previously worked for QV, gaining invaluable experience with the local team before embarking on his OE. Jakes joins My Valuer with a goal of getting registered in the short term. He is also coming with some young “thinking” which is great for business!
The year has started on a real high, with lots of positive activity in Hawkes Bay, and plenty of action in the property market.
The Hawkes Bay residential market has been positive in the first quarter of 2015; following a relative dismal 2014 for the sector.
Feedback from the real estate industry indicates limited housing stock in areas of demand at present, though with plenty of buyers sitting in the wings. We are likely to see a flurry of activity as agents build their stock piles again.
Recent activity shows the number of sales for the Hawkes Bay region in March was up 25.9% on March 2014. This volume of sales is the most we have seen for a long time. This increase has is being fuelled by the balanced market with increased enquiry from 1st home buyers, low interest rates and competitive bank lending.
There have been a number of multiple offer situations this year. The pendulum may be starting to swing towards the market being in favour of the seller.
Key market facts:
The lifestyle sector has followed a similar trend to the residential market with increased activity levels in the first quarter of 2015.
The supply of conveniently located lifestyle properties, both vacant and improved, available to the market has tightened due to increased demand and turnover, and a lack of new lifestyle listings coming onto the market.
Smaller easier care properties with land areas in the 2,000 sqm— 5,000sqm range, and relative close proximity to the main centres are particularly popular.