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[email protected] A member of the Property INDEPTH Franchise Web: www.valuationrodney.co.nz Remove Doubt – Create Certainty on your next property decision Property News – April 2012 Welcome to another edition of our Property News for April 2012. Following on from our report in March, we’ve seen yet another month of sometimes frantic activity! Following February’s 51% increase in sales compared with January, March recorded a further 19% increase to a total of 7,330 sales nationally, the first monthly sales result exceeding 7,000 since the market peak in 2007. Recent media, NZ Herald amongst others, are already trumpeting the return of values to the previous highs of the 2007 peak, however there are clear performance differences in regions and also in both market/price segments and property types within these regions. Clearly the main urban centres of Auckland, Wellington and Christchurch continue to lead, especially in Auckland being buoyed by positive migration. The First Home Buyer price range is also heavily influencing these sales figures, on the back of increasing rents, rising economic confidence, continued low mortgage rates and relaxing of deposit criteria from lenders being some of the drivers behind this. So it’s important to understand these key drivers, and the differing markets or market mixes in the property stock, to understand the current direction of the property cycle. This is why, as Valuers, the greatest part of completing a registered valuation report is the analysing of comparable sales similar to the property being valued with size, locality, value range, demographics and quality all prime considerations in this process.