As we move through 2011 it has become apparent that demand for Greater Ponsonby homes far outstrips supply.
Well presented and properly promoted homes are in most cases achieving premium prices, which have resulted from buyers taking advantage of record low interest rates and finding themselves in competitive bidding situations.
Although there is a shortage of supply, it is imperative that a salesperson and agency harness this interest and have buyers compete against one another at one point in time, for the opportunity to purchase your home. It is important that you are certain your chosen real estate salesperson can extract the very highest value possible.
Interestingly enough, the Rugby World Cup had absolutely no detrimental effect on the volume of sales in both September and October. With both months volumes at least 15% higher than the same time last year.
During this time, there has also been a lot of volatility on a global political and economic scale. However, given the volume figures it would be a fair suggestion that Greater Ponsonby, Pt Chevalier and Waterview are their own micro-economic markets. There are still plenty of buyers in the market place, actively viewing open homes and competing against one another for the privilege to buy one of the few homes on the market.
With a longer possession/settlement date, you will still have plenty of time to find another property, on a cash unconditional basis as more property comes on (as it traditionally does) to the market in February 2012.
