Another fascinating week!!
With the end of June falling in the middle of the week it capped off a buoyant June. Enquiry for land, while still strong, was substantially down from the crazy levels it reached during early June.
Could this be a cooling of interest due to the time constraints? Dealing with developers looking to buy lots to bring to the market and residential buyers looking to build, we are in a unique position. This week was the last realistic time for developers to get lots in for subdivision and on the market for sale. That is one portion of market activity I would not expect to see next month.
Initial inquiry for building new homes is also lower. This is not surprising due to the dizzy heights it reached following the government announcement of the grants and clients enter the research phase of building.
It's too early to tell if an increase in the cost of building and buying land has slowed the market. July is a notoriously slow month. A strong July would be a very positive indicator of the property market.
The activity in the established housing market has been resilient. With strong enquiry for quality homes in established areas. July marks the start of longer days and the anticipation housing stock will increase as we head towards Summer.
At Piran Property Group our experience is your advantage. If your buying, selling, building, or subdividing we have strategies to get you the best results.
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