Ray White Now New Zealand 19.10.2020 Version 22 - 19 October 2020 - Page 3

Dear Property Owner ,
We look upon the election as a time when real estate generally takes a backseat to the changing political or policy environment . With the outcome that we saw on Saturday night with a government now that will govern alone there is a clear policy mandate that will provide for fiscal responsibility while ensuring those who are ambitious will be given an opportunity to make progress within the property market .
It has been a week where data released by the Real Estate Institute shows there is a continued increase of property prices across all regions in New Zealand and there is also a depth of buyers who continue to provide momentum into the market , which is giving sellers premium prices .
There are several factors creating the momentum in the market . Firstly , the long-term forecast of low interest rates and affordability around the purchasing of property and the repayment schedule aligned to potential capital gain . Secondly , the number of first home buyers coming into the market has increased significantly as they take their opportunity to consider purchasing at interest rates that are the lowest on record , starting from 1.99 per cent .
We are continuing to see supply not keeping pace with demand created from buyers , particularly those in the first home buyer category and increasingly investors coming into the market . If we look at our Ray White results for the past week , the number of new listings is ahead by 2,062 ( 8.7 per cent ). While the number of sales continues to surge forward with the comparison to this time last year being 1,732 ( 38.04 per cent ). The disparity between the number of new listings coming to the market and the depth of the buyer pool remains in favour of the seller . This is seeing premium prices across all markets where competition is created .
This week Ray White releases its national marketing statement for those who are considering selling their property and wish to take advantage of marketing upgrades . Our ability to create competition under the various concepts of marketing , particularly auction , has become so important to the outcome of successful sales on behalf of clients . Our national marketing statement is an opportunity to list your property with Ray White to ensure we are creating competition successfully for your most valued asset .
Ray White Now is produced in conjunction with real-time data from our 182 offices across New Zealand . Ray White , on a monthly basis , completes over $ 1.3 billion worth of property transactions and currently manages a portfolio of 19,228 properties through our property management division .
We welcome your enquiry to assist with your real estate needs across New Zealand .
Regards
Carey Smith Ray White New Zealand Chief Executive