Nathan’s Market Wrap-up

Stock levels locally continue to stay low with houses well priced and presented seeing amazing competition.

There is still a gap in many cases between buyer and seller expectations causing fewer deals to be made and longer days on market, especially in the higher valued properties. What we have seen over the last couple of weeks is a slow down in buyer decision making due to the latest interest rate rise. Prior to that rise there was massive confidence that we had reached the peak on the rate cycle causing a flurry of activity, with buyers now feeling a bit nervous there may be more rises now to come. Overall my advice to sellers is to move now while stock is low because we know that when that level returns to normal the power will return back to the buyers and prices will soften.

- Nathan