Nationally, price growth was expected to slow because this year’s tax changes reduced the profitability of property investment. The market had been less busy in April than in March, with fewer home appraisals and valuations, he said. Debi Pratt, who owns a branch of Tall Poppy Real Estate in Christchurch, said demand dropped off suddenly when the changes were announced. Auctions were also not clearing as many homes, she said. “I’ve noticed a marked reduction in attendance at open homes, and offers on property.”
KIRK HARGREAVES/Stuff
New tax rules for property investors are expected to cool the market.
UNSPLASH
Real estate agents are all over the map when asked to predict whether the colder weather will see a cooling off of the housing market.
The best time to sell a property has historically always been spring, when buyers were neither sunning themselves at the bach, nor on a three-week mid-winter escape to Europe. Some houses simply can t be made to look their best in the dark and cold of winter. But that’s in a normal year – and we all know that things are far from normal right now. After months of prediction-busting house price rises, will we still see a cooling off of listings along with the weather?
Homes and apartments within easy walking distance of a train station attract a premium.
New Zealand punches above its weight in many areas, but we all know public transport is not one of them. Our largest centres are congested and underserved by rail – unlike Sydney, New York, and London. In those cities, the trains make travel to any corner of the city accessible and speedy – even if dodgy black stuff does come out of your nose the next time you sneeze. In New Zealand, train-side suburbs have always been relatively affordable because of their distance from the CBD, lack of amenities, and the disturbance factor.