This is the fourth week in a row where we’ve had an increase of property listings and it is at the highest level adding a further increase of 120 to 2,559.

Just as a rapidly improving market can catch buyers, sellers, and commentators off-guard, as we have recently experienced

Our real-time analytical data shows an increase in new properties coming to the market this week.

Ray White New Zealand this week completed a record sales month for October with $1.644 billion worth of sales which was an increase of 83.6 per cent on the same time last year while the sales numbers surged to 2,031, up 50.6 per cent in October 2019.

News out this week has seen Reserve Bank Governor Adrian Orr warning that the Central Bank is “looking at”the prospect of re-introducing loan to value ratio (LVR) limits on bank mortgage lending.

We are continuing to see supply not keeping pace with demand created from buyers, particularly those in the first home buyer category and increasingly investors coming into the market

Buyers behaviour remains constant with their journey starting out by looking at property online.

There is a lot of information readily available to buyers through online research which they assess and develop a perceived market value estimate, creating a “ceiling” price.

Creating competition is the best way to achieve an exceptional result for your property. Our aim is to achieve a figure which we are happy to present to our sellers and a figure that reflects the buyers competing for the property.

Despite these indicators having a positive influence on the market in the short term, those considering selling should remain cognisant of the potential influences in the economy and the residential market into next year.