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Seller’s Market Trying to Shift Regions

Seller’s Market Trying to Shift Regions
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The real estate prices all over the world are facing the downfall continuously at one side and on the other side, if you notice the major areas which are considered as the main area of seller’s market are growing continuously and homeowners are trying to include more and more property in the list of sales each year.

According to the newsletter of the website Realestate.co.nz, the downfall in the prices of national stock of unsold houses has been observed with the decrease in its price and seems to be down continuously to 42.1 weeks. While, the average of this downfall is counted as 41 weeks in two years. After the issue of 911, the prices of houses went down by 18 percent and up until now, continuously decreasing with the ratio more than the previous.

Because of this reason, the sellers’ market has been decided to shift itself to another area from where it could start its functionality again and could manage the inventory level which was facing the downfall below than the average. This would help buyers to elevate their demand and develop a potential in their mind to see the rise in property prices. The regions where they are trying to shift are Nelson, Canterbury, West Coast and Wellington. However there are some provincial regions as well who are counted in buyer’s market and showing the inventory level more than that of the average long term rates.

 

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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