This Week's Lifestyle Properties and Open Homes

There’s been a decrease in overall lifestyle listings on the market. At present, 131 total lifestyle (13 Napier / 118 Hastings) and 48 of those are Bare Land (8 Napier / 40 Hastings).  The decrease in available properties has seen a slight increase in buyer activity over the last few weeks, but price remains the most challenging factor.  Buyers seem to be more willing to put themselves into a good buying position, i.e. listing their current home for sale vs. waiting to find something, establishing finance approval in advance, but the budget constraints are still the biggest challenge we are coming across in the current market.  We are still seeing offers falling apart over what we would consider very small gaps and I am not personally getting the impression this is because people are trying to get a bargain, but because the current economic environment is enough to create a situation where buyers are willing to miss out for a small margin rather than find themselves in a situation where they have tapped themselves financially and things begin to get worse. The election of course brings about some of this uncertainty, but the yo-yo effect with the OCR hasn’t helped build confidence either.  New listings are starting to take shape for Spring so while there will be some new things to consider, it’s still worth looking at those that have been on for a bit as they will be looking to get sold before more competition hits the market.

New Listings:

148 Clifton Road: Don't miss this totally unique gem on the coast.  Sweeping ocean views including Mahia Peninsula and Cape Kidnappers is just out the window from your Mediterranean cottage designed by Paris Magdalino.  An additional 3-bedroom cottage serves as passive income.  Shedding is not missed here and the most recent Quinn built shed has solar and batteries set up for your power needs.  An Ozone Swim Spa completes the offering positioned for the views and is great for keeping fit!