Ellerslie Market Update

Happy New year to you!

Hope you had a great festive season over the past 2-3 weeks. I visited family in Tauranga with my wife and daughter which was fun. For the most part our family enjoyed the weather and visited the beaches that this great city has to offer.

A new year has begun and I hope to deal with you over the next period of time. A world of opportunity lies before you. Seems like the OCR will take another cut this month making houses more affordable... A welcome relief for all I would say.

Latest R.E.I.N.Z. figures show median house price sales for the month of October 08’ was $480,000 with 11 properties selling at an average of 27 days to sell.

November 08’ saw the median drop to $403,650 with 16 properties selling at an average of 42 days to sell.

Interesting numbers...

Ellerslie has not been immune from the recent market volatility. The good news is that people continue to buy and sell homes. It is taking longer to close the deal at times but people are realising that life must go on. With the recent drop in interest rates people are once again able to make their dream come true of owning their own home.

Advice...
If you are thinking of selling, act ASAP.

Love to hear from you.

Mark