foolsgold99
18th May 2005, 10:24 PM
Here's my feedback on a couple of weeks worth of property searchs in the eastern subs of Auckland (Pakuranga, Howick, Bucklands etc).
Some people will try and tell you that the market is strong and that houses are moving quickly, but frankly it's just for show. It's most definetly a buyers market out here. Like the uk it seems the crazy prices of this time last year are gone. They're is a lot of houses that aren't moving for 6 - 8+ weeks
The practice here seem to be that companies employ a lot more sales staff than they would in the uk, and let them fight it out in a harsh darwinian fashion. When selling in the uk I always had the feeling the estate agent was working for me, it NZ that doesn't seem to be the case They are mad for the sale, they'll push through a low price, just to get some churn. The person at the next desk is their enemy, and they'll tell you bad things about them.
Once I established I was a serious cash buyer, who was going to buy a house in the next month or so, I've had agents call me back with 10% price drops. I've had agents call to tell me what that a vendor is desparete and has already bought and that I should offer 50K under asking price. I've had agents tell me what the other bids on a house have been.
I also notice a lot of drops averaging between 5 - 10% in advertised prices in the property press from week to week.
You'll get a good house here, if you're prepared to be tough and go in low..
Some people will try and tell you that the market is strong and that houses are moving quickly, but frankly it's just for show. It's most definetly a buyers market out here. Like the uk it seems the crazy prices of this time last year are gone. They're is a lot of houses that aren't moving for 6 - 8+ weeks
The practice here seem to be that companies employ a lot more sales staff than they would in the uk, and let them fight it out in a harsh darwinian fashion. When selling in the uk I always had the feeling the estate agent was working for me, it NZ that doesn't seem to be the case They are mad for the sale, they'll push through a low price, just to get some churn. The person at the next desk is their enemy, and they'll tell you bad things about them.
Once I established I was a serious cash buyer, who was going to buy a house in the next month or so, I've had agents call me back with 10% price drops. I've had agents call to tell me what that a vendor is desparete and has already bought and that I should offer 50K under asking price. I've had agents tell me what the other bids on a house have been.
I also notice a lot of drops averaging between 5 - 10% in advertised prices in the property press from week to week.
You'll get a good house here, if you're prepared to be tough and go in low..