Hopefully this translates to Lowe and Co listings with realistic BEO's. Most L&C listings in our area haven't sold because seller expectations have been set too high.
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i think you need to film a customer tutorial someone who volunteers to be filmed and put online, and it's a vlog showing the questionnaire process, filming all the aisles of stuff, and scan checkout process. For the purpose of "know what to expect, for anxiety relief"
Seeing as economists predict two more OCR increases I don't understand why the advice to buyers is don't wait for things to improve. It makes sense from a real estate agent perspective though. Best to wait for people leaping to aussie wanting urgent sales and willing to accept a price below their 2018 CV.
Thanks for your comment - obviously this is just my personal view - and unlike some agents, I am basing my updates on the facts / data. Yes, there is one economist that I know of who is predicting two OCR increases. But only one. And, as they say, if you ask 10 economists for a forecast, you'll get 10 forecasts. Forecasting these things is notoriously difficult. But the reason I am saying don't wait for things to get better is that, on balance, I don't think wholesale price drops are likely - I respect Tony Alexander's analysis more than any other economist - and he points out that the population is increasing rapidly thanks to massive net immigration, interest rates are likely to have approximately peaked and the likely next move is downward (contrary to Sharon Zollner's prediction), and house construction has hit the brakes... the combination of increased demand and stagnating supply is rising prices, not falling prices... although it is not likely to be a smooth process, there will be little bumps and fluctuations along the way... so, if as a buyer you find a house you like, that you can afford, don't wait in the hope prices will fall significantly... the fundamentals do not suggest prices are heading down... rather, they support prices going upwards... eventually. Obviously time will tell!!
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Nice but what an overpriced property, Not even a castle in Chianti with a vineyard will cost this much. Overprice by at least 1m, in today's market. Good luck to the vendor
I don't have a crystal ball but with the increase in OCR failing to calm inflation the OCR is likely to raise again next year and cause prices to fall further. Previously a bank would pre approve me 1.3m, now only 600k is a massive stretch. Houses on trademe up since March, still asking 2020 prices and not selling. Interesting times indeed. One example 459 Ohiro Road, Brooklyn, 140k below rv not moving at all. At 2% interest rates it'd be gone a day after the listing went up easy.
Hello, thank you so much for the support ❤️ If you would like to know more about us and our properties, please email office@loweandco.nz Have a good day ahead :)
I was there 1956/57 as a child when we emigrated from England. Sadly my parents split and I came back to England again. Its like all the places from my childhood like Singapore, all tall buildings and no remnants from that time.
Hello, thank you so much for the support ❤️ If you would like to know more about us and our properties, please email office@loweandco.nz Have a good day ahead :)
Hello, thank you so much for the support ❤️ If you would like to know more about us and our properties, please email office@loweandco.nz Have a good day ahead :)
APOLOGIES FOLKS - I found an error in my data. Volume of new listings in June were 529 sales, not 675 as recorded in this video. This puts new listing volumes around the same level as previous years, NOT the significant increase as recorded. My bad sorry! The fall in number of sales is correct, and that is the headline story.
Hi Leslie - it certainly looks likely to fall further, but demand is not just related to mortgage repayment amounts. Wellington values have fallen further and faster than most of the rest of the country, and the values in Wellington city itself look less susceptible to significant further falls than the regions around the city - Hutt Valley, Porirua, Kapiti, Wairarapa - those values appear more bloated than the city values. Covid increased demand for these locations as people chased lifestyle and fast-tracked retirement. If / when that temporary additional demand dissipates, potentially returning to the city, this leaves these regions more exposed than the city. The other thing is unemployment - there is virtually none of it - so when prices fall, vendors reach a point where they just won't sell, opting instead to simply hang on. This provides a floor to prices... but it can all change if unemployment increases and forces more sellers to market. We shall see! Thanks for your comments!
Hello Editzzz, thank you so much for the support ❤️ If you would like to know more about us and our properties, please email office@loweandco.nz Have a good day ahead :)
Hello Raju, thanks for taking the time to look through our videos. For more details about us and our properties, please email office@loweandco.nz Have a good day ahead :)
Hello, thanks for taking the time to look through our videos. For more details about us and our properties, please email office@loweandco.nz Have a good day ahead :)
History has shown once house prices decline the rbnz decreases ocr / interest rates to save the market. Remind me again which way interest are going. Min 6 months to see the effects of the current rates come through to prices. More houses for sale + higher interest rates = large price changes coming
Hello Omz, thanks for taking the time to look through our videos. For more details about us and our properties, please email office@loweandco.nz Have a good day ahead :)
Thank you for your great vids. Very clear and great presentation, love seeing the graphs and following your thoughts. You just need better sound: it's very echoey. Let me know if we can mike you up better. I have lapel mikes I can lend. Was gonna be coming into the office anyway.
