Inside the hearts and minds of Kiwis
What’s influencing our decision to buy and sell property
Trademe have recently released a nationwide research report delving into the motivations of buyers and sellers across New Zealand. It is interesting to see how the results of the report translate to our local real estate market in Taupō.
62% of 35-44 year olds surveyed have intent to buy in the next two years, with ‘Upsizing’ and ‘Relocation’ being the primary driving criteria. This may not come as a surprise given this would be the age bracket with growing families either looking to make a move to further their career or raise a family.
While there will always be a certain level of buyer demand as people’s circumstances change, it is encouraging to see such a high percentage of buyer demand and should give confidence to anyone considering bringing their property to the market. To further back this up, in the last twelve months, Bayleys Taupo & Turangi has sold over 450 properties and are currently averaging 157 property views on Trademe every single hour. This highlights the fact there is still considerable buyer demand currently for the right property.
While buyers may start out with a clear idea on their ‘ideal’ home, affordability is the critical factor, and they are quick to make a sizeable compromise. This is where having the right sales person behind the sale of your home becomes so critical. A buyer may think they know exactly what they want, but a top performing agent will understand their requirements and introduce them to a variety of other appealing properties which they may not have even considered in the first place. This is often the difference between a sale and a property hanging around on the market.
The Trademe report also highlights a distinct gap with demand greatly exceeding supply in houses in the $800,000 - $1,000,000 bracket.
This imbalance signifies a ripe opportunity for sellers in this bracket, as buyer demand remains robust, which would potentially lead to a quicker sale and favourable pricing.
Choosing Bayleys Taupō means partnering with a team that not only understands the local market inside and out but also has the tools, resources, and collective skillset to achieve the best possible outcome for your property.
THE ALLURE OF ‘WORK FROM HOME’
As a sign of the times, the top keyword on Trade Me Jobs in the last year was ‘work from home’. This is becoming increasingly important for many New Zealanders in their jobs and subsequently in the homes that we live in. This could be worth considering if you are thinking of bringing your property to
29.1% of people feel that it is important that the next property they purchase has an office/space they can work from home
the market. If you don’t currently have an office setup in your home, staging one of the smaller bedroooms or nooks as a home office may help with it’s appeal to potential buyers.