Big changes in the market since my last newsletter was written. Record numbers of properties have come on the market since the beginning of February, a large percentage (around 65%) of which are rental properties. Presumably investors are concerned about any proposed changes to the way investment properties could be treated for tax purposes in the May budget.
Fortunately, lots of buyers are still frequenting open homes but are being becoming more choosey and taking longer to make decisions. There are also more tenders closing without a sale.
Have three open homes tomorrow; a 1900s Cottage Mt Cook, a large investment property in Thorndon and a four bedroom Lockwood in Kingston.
Chris
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