It is barely possible to read the media without stumbling across an Article on Real Estate trends, market comment or expert prediction.
But here’s the thing!
Having worked in Real Estate in several locations and for many years, I can safely report that ‘National Trends’, ‘Regional Statistics’ and ‘General Economic comments’ are largely irrelevant to the sale of your home (in fact I would be so bold as to say, they are a load of rubbish when it comes to selling your home, let me give you an example, if you put one foot in a bucket of boiling water and the other foot in a buckt of freezing cold water, on average your would be comfortable).
Your immediate neighbourhood is by far and away the most accurate source of market information. Within any area different suburbs will vary greatly from others, for example Papamoa’s different area’s activities can fluctuate wildly without any seemingly real connection to each other. And the level of real estate activity between say, Papamoa, Mt Maunganui and Tauranga is mostly always non-related, Hamilton and Cambridge will seem to be light years different and don’t even try to compare auckland suburbs with other Auckland suburbs, in fact in the CBD the variances are by building.
Get your salesperson to show you what has sold/listed for sale in your immediate environment so that you can access accurately what you might expect. And don’t forget – when gathering information – Asking prices can vary wildly from Selling prices!