Tide turns
ByIt appears that things are starting to recover even faster than I predicted.
I was talking to a mate yesterday who had a multiple offer on a section in Dunedin.
I had a poster in my forum complaining about the prices being achieved in Nelson and good stock is starting to move fast in Auckland.
Now it will take several months before the media shows any signs of changing probably but I can only reiterate what I have said repeatedly and that is don’t sit there on your hands waiting for the bottom too long. It may have already passed.
Property is never an exact science and we have to look at the available information and make decision based on highest probability. There are no guarantees, however it is highly probable that property prices will continue to increase over time. It is highly probable that prices will not fall much further than they have. You can’t sell below replacement cost for ever. And it is highly probable that interest rates will continue to fall making any good deal now, even better going forward.
Stay Safe ~ Dean Letfus @ www.massiveaction.co.nz
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