What has happened to the New Zealand Housing Market??
Last year we sold our house in Auckland, I think we were very lucky to sell it.
We held 4 open homes and had a grand total of about 8 people through it in all that time. Now ok I know it only takes 1 person to buy, but still people just weren't looking. So when I look back I realise just how lucky we were.
Some friends down the road from us in Auckland placed their house on the market in October 07 and it is still for sale! Now ok there are a few different factors between our house and theirs. We had more land and didn't sit right on a major junction on a busy road, but still they are having hardly anyone through the open homes!
This morning I was out for an early morning walk and noticed a few houses still for sale here in Hamilton. Now these are houses that I had noticed for sale when we first moved here in October! We are talking different standards of house as well, so nothing is moving very quickly. Yes it is the main summer season at present but just because the kids are on main summer holidays doesn't stop people obtaining houses.
It makes me realise that we were probably never going to have any competition in buying the house we just have purchased, because there is no one out there buying houses.
The lady we have just brought from is probably so happy to have succeeded in selling her house with the way the market is at present.
How is it in the country you live in? Are houses selling or has the market gone very quiet?