Real Estate Update October 2021
House prices continued to rise during October but the number of sales were down by almost 22% compared to October 2020.
With lockdown level 3 restrictions in Auckland, Waikato and Northland and the rest of the country in level 2 restrictions it is not surprising sales figures are lower.
It can be expected that sales numbers will continue to rise in the coming months as restrictions are easing as vaccination rates rise. Demand remains strong.
Not surprisingly the average time to sell has increased. No open homes are permitted at level 3, onsite or in room auctions are not permitted and there are restrictions on how many potential buyers can visit a property in one day.
Compared to October last year it took 5 days longer to sell nationally and 15 days longer in Auckland.
|Region||% Increase in 12 months|
|Bay of Plenty||23.9|
There is still a shortage of properties for sale in New Zealand. The market remains strong despite the Covid-19 pandemic.
Preparing Your Home For a Property Inspection
To make your home inspection (building report) go smoothly here are a few useful points. Attending to these relevant points will allow the property inspection to go quicker and more easily. We can’t inspect what we cannot get access to or see. This is important so that the buyer knows that nothing is being hidden from them.
The areas we need to access are: The roof space which is often through a cupboard ceiling. If this is the case a sticker on the cupboard door saying “roof space access” would be very helpful and save the inspector time searching for it. The crawl space – the area under the floor (if there is one).
Leaving the access door unlocked or providing a key is important as the inspector needs to check for water leaks, the condition of the foundations, underfloor plumbing & drainage, electrical wiring, underfloor insulation, ventilation and more.
The interior electrical panel – this needs to be open to check the fuses and wiring. The windows and doors, please provide keys so that these can be opened and closed. The hot water heater / cylinder—this is often covered in clothing (it’s usually a warm, drying cupboard).
We ask that these be moved away from the cylinder so that it can be inspected for leaks, damage, seismic strapping and age. Power and water supply – please ensure that these are on as the electrics and water, taps, showers, baths, drains, waste traps and so on are all checked.
A few minutes preparing your property for a home inspection will mean a quicker, easier and more complete inspection. Don’t put off your potential buyer by having a report saying items could not be inspected as there was no access. This could cost you a sale!