If you've been thinking of selling, now's your moment

You may have heard: major changes are coming to NZ’s “Bright Line” rule. As of July 1st, the turnaround period for most people will reduce from 10 years to 2. While primary residences weren’t subject to the Bright Line rule anyway, a number of houses and sections up here are second properties, and the 10-year minimum ownership period has dissuaded some potential sellers from putting their property on the market. That’s about to change.

We’ve already noticed a big uptick in listings. The market is definitely starting to move, even though prices have stayed fairly stable. Interest rates are starting to make themselves felt, and now that the impediment of the Bright Line test is about to drastically reduce, we expect a number of vendors will decide to get their property on the market after July 1st.

So if you’ve been on the fence, now’s the time to make your move. We’re seeing a growing demand for properties, and — perhaps surprisingly — the closure of the Brynderwyns has not had a significant impact. Even before the closure, we’ve found that an increasing number of our buyers are local or from the wider Northland region, and serious buyers from Auckland are willing to make the journey. Of course, interest rates are still high and finance can be tough, so buyers remain cautious and that’s keeping prices steady. But the demand is there, especially for low-maintenance one-level homes. If you’re interested in listing your property and want to avoid being one of many, please get in touch.