Taranaki real estate market buoyant
If you’d asked real estate agents Jane and Carey Simonson a month ago how Taranaki’s housing market would fare post-lockdown, they’d have predicted high-end sales would be suffering.
But those predictions would have been wrong. Within the first week out of lockdown the Ray White agents had a $2 million New Plymouth properties under contract.
One of the homes, on Heta Rd, was listed prior to lockdown but didn’t go live with photographs until level 3 began.
An offer on the executive family home was made before its first open home on Sunday, in alert level 2, which drew a line out the door.
The other property, on Whiteley St, which featured port views, went under contract on Wednesday after being on the market for around five months.
‘‘We thought if people were facing redundancies and reduced hours ... we just weren’t sure what was going to happen to this end,’’ Jane said.
‘‘But we’ve just been so busy. Covid hasn’t stopped the market.’’
At the beginning of lockdown there was an air of uncertainty in how the real estate market would pull up.
Level 4 made it difficult for property sales to occur and the number sold in April across New Zealand reflected that, with a decrease of 78.5 per cent from the same time last year, The Real Estate Institute of New Zealand (REINZ) has reported.
April was a challenge for Taranaki’s market, with only 27 houses sold, compared to 177 in March, and 167 in April 2019.
There were fewer than 30 new listings across the region last month but then with the change to alert level 3 more came onto the market, REINZ reported.
Now, as level 2 allows for more business, the Simonsons, like many other real estate agents, have been flat out.
It’s not just the high-end going off. The couple say they are seeing inquiries across the board.
‘‘I think people have had a real reset since lockdown. Those who had been thinking of getting a new house are now just doing it,’’ Carey said.
‘‘Others who are having to spend more time working from home are looking at if their current home works for them,’’ Jane added.
In South Taranaki, Selwyn
Metcalfe, of Metcalfe Real Estate, said the market’s pre-lockdown activity had continued.
There was a strong buyer demand, with not enough properties to satisfy it, he said. ‘‘But new stock is starting to trickle in.’’
Metcalfe said there had not been any indication people were suffering financial hardship through the pandemic and needed to sell their homes.
Bayleys Taranaki general manager Dean File said there had been good numbers at the company’s open homes.
‘‘It was pretty promising. There’s a bit of activity out there, that’s for sure.’’
While listings were picking up, the buyer demand was booming, he said.
File had also been busy fielding a lot of interest in lifestyle properties.
While the industry was suffering in some parts of the country, Taranaki was holding up, he said.
‘‘It’s definitely not crashing or anything. It’s holding up very well.’’