Sales and prices down

A real estate agent tells me that property sales in Wanaka are down around 65%.

The average sales were about 30 properties a month but they haven’t got to double figures for months.

Prices have fallen about 15%.

Another agent tells me Wanaka real estate is booming and opportunities abound.

I think the pessimist is more likely to be right.

3 Responses to Sales and prices down

  1. Colin Lucas says:

    Up here it’s about 50% down across the board. Glass half empty rather than glass half full seems to be the common attitude.

  2. I’d day the pessimist is more likely to be either a) telling the truth or b) not in a state of denial.

  3. Hi,

    In Wanaka Sales volumes since April this year having fallen approx. 50% Values have fallen about 5%. Vendors will not receive the premium price that they would of 12 months ago. It is a buyers market with the odd exceptional buy out there and also the odd exceptional price acheived. Wanaka’s market is very fickle even when the country is drinking from the half full glass because of the low volume of sales given its size.

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