You TubeFacebookTwitterflickrGoogle plus
Friday, 26 April 2019 07:34 am

Kapiti homes selling faster – but it’s a blip

May 6th, 2009 | By | Category: Front Page Layout, Latest News, News

soldhouseKAPITI COAST real estate agents doubt the area’s recent rise in property sales will continue in the upcoming industry report.

Residential property sales on the coast jumped by 40% between January and February, up from 65 to 92 sales, according to the Real Estate Institute of New Zealand.

The institute’s latest report shows a further rise: March sales numbered 104, up 11% on the previous month. The next report, on April trends, comes out next week.

Tommy’s Real Estate Paraparaumu branch manager Chris Packer anticipates sales will hover around the 80-per-month mark until later this year, when he expects sales to begin rising again.

Mr Packer attributes the rise to lower interest rates.

“It makes it affordable for the first-home buyers… it is just as cheap to get a mortgage as it is to rent.”

Winkel Real Estate manager Eddie Winkel says recent increased activity is just a blip and sales will drop.

He says it is too early to tell when the sales slump will end.

The Kapiti Coast’s sales figures have improved fractionally more than the national figures over the past months.

There was also a rise in median sales price in February, up 8.4% from $315,000 to $352,500 but this dropped back down to $317,400 in March.

PICTURE: Typical Kapiti homes have been selling in greater numbers in recent months.

Tags: , , , , ,

is a Whitireia Journalism Student. Now working at the Kapiti Observer as a sports and emergency services reporter.
Email this author | All posts by

Leave Comment

You must be logged in to post a comment.

Radio News