My thoughts are that when the market goes again it will take off very quickly. The main implication is that as each month goes by it gets riskier to keep holding out for the absolute bottom of the cycle if you are a buyer. Don't try to pick it but start to focus on what you really want – that house in Wanaka that you’ve been procrastinating about buying for too long!!!! But not just any house - the RIGHT house. Be fast out of the blocks to grab it when it comes up over the next 6 months.
The latest statistics out on Wanaka property report that sales have not yet started to reflect what the feeling is out and about around the streets especially in the cities. When will the cycle turn or plateau and is there less urgency out there with the buyers keen to enter the Wanaka property market?
So many people have decided to sell up in the city, buy Wanaka property and move south in the past year. The recent lifestyle learnings have centered around working remotely. No longer is there an expectation that you have to be on site to perform to expectation. In fact quite to the contrary – [...]
Time and attention to the market from a dedicated professional - a buyers agent working for you - results in special properties that my clients know would not have been possible with the support of the team at Buyers Agent NZ. We trust our clients are in a safe pair of hands that have genuine desire to get it right, and keep it right.
Imagine finding a property that ticks more boxes than you even thought were possible. Having an overview across the entire market, both listed, advertised and not, with experience in what could be on offer, what works and what doesn’t allows options to be identified and more doors opened.
I spent lockdown thinking about a world where Wanaka property prices could be dropping. Although I did acknowledge that there was nowhere in the world that I'd rather be and thought that there would be expats wanting to get a slice of it. How wrong was I. For many Covid brought forward their plans to move south but for some the change of lifestyle came from a lockdown priority check. The net result has been a hike in prices to date in NZ including Wanaka.
With the Wanaka Real Estate market in a competitive phase, it can be a real game changer to discover an off market property. There are so few listings about at the moment. This combined with the imbalance of buyers pushes prices up. Having multiple bidders or offers on a property results in inflation of the price.
The most difficult part of making the decision to purchase in Arrowtown is finding a great property and securing it before anyone else can. Good properties are snapped up faster than seems possible, most you will never even be aware of as they are sold off market. Buyers agents will aim to get the earliest access to properties.
If you are serious about wanting to buy Wanaka property especially under the current market conditions, it is recommended to have someone on the ground working for you.
The reality of a Wanaka property search can be a frustrating time for those that have other priorities in their schedule. Being emotionally detached from the process can result in a completely different opinion of a property when taking into account the original objectives of a search. I’ve had a few buyers comment that they have ended up with a much better property than they’d dreamed possible after placing their Wanaka property search brief with us.