As I write the April 2020 Dunedin Property Report, we are now heading into Level 3 of our fight to rid us all of Covid-19 (which I feel we are winning to this point) and by the very long queue of cars that are backed up at McDonald’s & KFC in North Dunedin it looks very much like everyone wants to move on and get some sort of normal back into everyday life.
Real Estate in Level 3 is different but at least now Sellers & Purchasers are able to engage once again and the interaction between all parties will steadily increase as we move through the levels of lockdown.
This month’s report only reflects a small portion of the lockdown period, when we get to Aprils figures they will show the reality of Lockdown. The number of sales for March sits at 187 compared with 202 for March 2019.
Days on the market remained the same at 21, this figure will change considerably given there has been little activity with sales over the Level 4 lockdown period. The median sale price for March 2020 is still healthy at $540,000; this is well up from $439,000 from the corresponding month of last year. Currently there are 284 homes advertised for sale on realestate.co.nz and this figure may increase over the next few weeks depending on people’s circumstances as we move through the levels.
As we entered lockdown on the 26th of March, no one could predict what shape we all would end up in when we finally would get through that period. There has been a lot of hurt already for the economy and heartbreak for many workers but on the upside there has been a lot of positive’s especially around the closeness that has been gained by the majority of families in NZ and the absolute hero’s within the essential workforce. As New Zealander’s we will adapt to the new normal and I am sure that as a country we will bounce back bigger and stronger, in some small part we here at Cutlers look forward to helping kick-start and rebuild everyone’s dream. Stay Safe everyone.