Nicola Kelland - How is the 2012 property market performing so far?

Friday, February 17, 2012 1:52 PM

Want to find out how the property market is performing so far in 2012 and what the key trends are?

2012 has started off with a bang in the world of property with a flurry of high-calibre new listings coming in. It’s positive to see that there are plenty of buyers out there.

Coastal Collective:
We’ve seen a surge in coastal property listings in the early part of 2012 – which is excellent timing, given that many expats have been in New Zealand on holiday over summer, looking for premium coastal homes. While not quite where it used to be, the coastal market is still very healthy, with buyers wanting something extra special heading straight for properties on the water. There are definitely buyers for costal property at the high end of the market.

Open Homes:
Open homes are drawing big numbers despite the many long weekends where traditionally people exit the city en masse for their holiday retreats. The weather has played a big part here, but don’t underestimate the power of a well-planned and staged open home.

Apartments – Boom Cycle
The apartment market continues to grow with strong demand for good-quality two-bedroom, two-bathroom apartments. With interest rates low, it is a good time for investors to enter this market.

Ever Important, the Family Home:
A good flat lawn, well zoned for top schools, decent-sized and well designed – the demand for good quality family homes continues.

City Fringe:
City fringe suburbs like Ponsonby/Grey Lynn are still hot and we predict they will continue to be for some time. We are seeing a lot of second-home buyers entering these markets with many renovating or doing some work on the properties.

All in all, we’re off to a great start and we predict there is still going to be a shortage of properties, especially as the rental market is getting squeezed. With interest rates low, it’s probably a good time to look at investment properties also.