January 2020 Newsletter

 

A big welcome to 2020 from the team at Cutlers!

The latest statistics for December 2019 show a decrease in sales numbers, as well as an easing on the median house figure. Sales totalled 164 for the month which is a decrease from 201 in December 2018. The median selling figure now sits at $485,000 which is down on the past couple of months, however, it remains well in advance of the corresponding month for December 2018 which sat at $420,000.

The median days to sell (21) shows that the market is active and that buyers are trying to get their offers as tidy as possible with limited conditions or putting themselves into an unconditional position.

Our Sales team has now relocated to 709 GREAT KING STREET, NORTH DUNEDIN and have joined up with the Property Management branch of Cutlers, thus allowing the whole team to be under the same roof. Our doors are open and we welcome your visit, rest assured we are up and running and enjoying the new inviting premises.

January is always an interesting month sales-wise, given the first couple of weeks a lot of owners and buyers turn their attention to holiday mode. Now with most being back into the work mode, we look forward to an increasing number of properties coming to the market throughout the month. Currently, there are 201 properties available on realestate.co.nz.

We look forward to working and assisting you throughout 2020 with all your real estate needs.

 

Donald Muldrew

Sales Manager

 

The number of family homes currently advertised for rent has dropped significantly from years gone by.  The main reason for this is that tenants know how difficult it is to find a rental property so the majority of them are renewing their existing tenancies for another year at a higher rate.  The 2GP hasn’t freed up enough land to cope with the demand for housing so unless something is done to allow for more affordable housing to be built then things are only going to get harder for tenants and first home buyers alike.

 

Matt Cutler

Managing Director

 

Useful links:

Where’s hot and where’s not for house sales: Dunedin outperforms other major centres.