Despite the ongoing media beat up about the property market, properties are selling on the Matakana Coast and in Omaha and in some cases quite quickly. And the good news for vendors is that prices are remaining high and stable.
Properties with all the right fundamental characteristics like good location and street presence, well presented, good practical layouts and no building issues - are selling well. 19 Darroch Slope, Omaha sold within three weeks of going onto the market and 5 Shamrock Crescent in a multi offer sold in just seven days. 2 Inanga Lane a $2m plus property has just sold by negotiation in just over 30 days.
More properties on the market gives buyers more options, and as a consequence we are seeing them being more selective in their purchase process. Buyers still feel that it is a buyer’s market, and in the $1.5m plus end think that a better property for their needs may come up. They also feel that there is no urgency in their decision process i.e. they have no fear of loss as a better, more cost competitive property might come along. However, prices have remained firm, and buyer enquiry is strong particularly in the $1.1m to $1.3m price range.