Optimism about the New Zealand property market is back with market pundits telling one news poll that prices might jump up to 6% next year and again in 2025.
As we all know, prices have fallen by double-digits since their peak in November 2021: a consequence of a 20-month campaign to raise interest rates to quell the post-Covid spike in inflation.
So, reports that experts are telling global news agency Reuters that prices could rise by more than 10% in the next couple of years will be greeted enthusiastically.
Reuters quizzed 11 market analysts for their predictions with the resulting forecasts of 5% and 6% in 2024 and 2025 showing an uptick in price optimism expressed since the previous poll.
The Reserve Bank of New Zealand has announced that this year there will be no further rises in the base interest rate, which currently stands at 5%.
With the spring sales season already here, this is an ideal time to consider your options.
These hot tips will help you prepare your home quickly to make the most of the current market conditions.
Cut bric-a-brac
Remove personal items, such as holiday souvenirs and family photos, so buyers can visualise themselves in your home rather than feel like a visitor.
Declutter like crazy
Have a big throw-out of all those items that take up space and are rarely used. They all combine to make your home feel smaller. Put in storage everything that you don’t need but want to keep.
Go deep
Cleaning your home is crucial in positively influencing buyers. If you don’t have the time, patience or inclination, hire a cleaning firm to get the job done just a few days before you put your home on the market.
Quick fix
Those silly little flaws in your home that you’ve tolerated for months or even years, such as a leaky tap, flaking wall paint or cracked paver in the garden, need to be fixed. This can be a time-consuming process. So, go through your home, make a list and get quotes from local handypeople.
Curb Appeal
Making a first impression is essential to a good outcome. The exterior of your home should be pristine. Trim overgrown bushes, mow the lawn, and clear away debris. Pull weeds in the flowerbeds and throw down mulch to keep them at bay during the sales campaign.