More time taken to sell homes

Matamata Chronicle - - Out & About - LAWRENCE GULLERY

Wet weather cou­pled with pub­lic and school hol­i­days meant fewer homes were put on the prop­erty mar­ket and it took longer for them to sell.

But over­all in April, me­dian prop­erty prices in the Waikato in­creased by 22 per cent, or $89,200, when mea­sured against the same month in 2016. The me­dian price for a prop­erty in the Waikato was $489,200 in April 2017.

Me­dian prices in Mata­mata-Pi­ako in­creased by 39 per­cent. The me­dian price for a prop­erty for April was $486,000, com­pared to $430,750 in March, and $349,000 for April 2016.

The fig­ures were part of REINZ’s May 2017 re­port, which re­viewed de­tails of the mar­ket for April.

While prices in­creased, sales vol­umes in April fell 29 per cent across the Waikato, when com­pared to March, and fell by 38 per cent when com­pared to April 2016.

The num­ber of days to sell a prop­erty in April eased by three, com­pared to March, from 34 to 37. The num­ber of days to sell eased by six when com­pared to April 2016.

In Mata­mata-Pi­ako, 31 prop­er­ties were sold in April, com­pared to 53 in March and 73 in April 2016.

Har­courts Kevin Deane Real Es­tate owner, An­drea Deane, said buy­ers in Mata­mata, Cam­bridge and Mor­rinsville were be­ing cau­tious and putting more con­di­tions into their con­tracts.

This in turn meant prop­er­ties were tak­ing longer to sell as the con­tracts took longer to fi­nalise.

‘‘But there is still a lot of in­ter­est in open homes and ev­ery­thing will sell in the mar­ket.’’

Deane said the in­crease in prices meant some first-home buy­ers were seek­ing help from fam­i­lies to get into the mar­ket.

‘‘Prices have gone up to a level that is dif­fi­cult for some first-home buy­ers. So they’re get­ting that sup­port be­hind them to get the de­posit but it’s also about the abil­ity to ser­vice that debt as well.’’

Peo­ple look­ing to es­cape the city were still keen on towns sur­round­ing Hamil­ton.

‘‘It’s prob­a­bly more Mor­rinsville and Cam­bridge, be­cause of that com­muter time. They are want­ing good schools and lifestyle out of the city.’’

There was a mix­ture of old and newer homes on the mar­ket and own­ers had pre­pared their prop­er­ties to at­tract buy­ers.

REINZ Waikato spokesper­son Trent Fin­lay agreed the poor weather con­di­tions in April con­trib­uted to­wards lower vol­umes and more days to sell.

‘‘Prop­er­ties get wet and it’s im­pos­si­ble to show them. We had Easter, school hol­i­days which does mean sales ac­tiv­ity is quiet for a while.

‘‘But what I ex­pect to see in fig­ures for May is that sales would have bounced back. List­ings and sup­ply in the re­gion will slightly lift.’’

Fin­lay agreed home hun­ters were look­ing to move out of Hamil­ton and into the re­gion’s ru­ral towns. It’s a trend that would con­tinue.

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