Spring is here! Our favourite time of year when the snow is still abundant on the mountain peaks but the sun is shining and the days are getting longer! Daffodils are in bloom and properties are looking great. Wanaka is the place to be!
The populace forecast for our lakeside town is sure to inaugurate a wave of innovative developments and amenities to facilitate our growth and multitude of interests in the years to come. Adding to the excitement, those who purchased in developments are now nearing the title of their subdivisions. The first stage of titles for the Heights development in Wanaka are expected over the next month or so and new owners will soon have consent to proceed with their plans to create their homes with their chosen builders.
A continued scarcity of properties for sale and rent is still present across Wanaka and the surrounding areas however, with the change of seasons ahead we expect the increased pressure on accommodation to get some light relief.
The potential for capital growth and rental returns in our market is encouraging enquiry from investors who would otherwise show caution due to the introduction of new legislation, such as the bright line test increase. We have experienced some market hesitation which has prompted a shortage of rental property across the region but investor demand continues to remains steady.
During the winter period we have seen a traditional shortage of property for sale which has created some great opportunity for those who are selling. Though there is less inventory, buyer demand remains strong and endures the real estate lull, the absence of competition gives sellers an advantage in the market. Prices remain firm with a rise in value for quality property.
On a more personal note, our recent awards for 2018 as the Number Three agent in the South Island places us in the Top 30 Harcourts agents across New Zealand. We are really rapt that our team's hard efforts in achieving great results for our clients has been recognised on a national level and our continued performance as the top Harcourts agents in Wanaka gives us the professional confidence to guide you through your property needs, whether it be buying or selling. We would especially like to say a huge thank-you to all our past and present clients for their continued support of the service we provide.
As we continue to see very frustrated buyers at the shortage of existing homes and sections in the Wanaka area, we encourage anyone planning to sell a property to discuss with us where your investment may be positioned in the market. We can also provide a free & informative report on specific properties, so please contact us today and have a chat about how we can help you achieve a great result!
Guy and Sheryl Alty
For further up-to-date information on what is happening in the NZ property market visit https://unconditional.co.nz/nz-property-report-data/