Market Commentary from Head of Sales – Adam Bailey | Impression Real Estate
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Market Commentary from Head of Sales – Adam Bailey

Posted by Impression on 24, Jun 2020

“Volatility in asset markets tends to bring short-lived opportunity that many look back on in more stable times and regret not taking advantage of.

Like the share-market at the moment we are seeing opportunities for buyers to pick themselves up what are in some cases apartments on sale. Mature investors in particular and the cashed-up are looking for opportunities to add value to their investment portfolios and we are seeing a significant level of enquiry from Singaporean investors looking for the same. First-home-home buyers with stable financial situations too are taking advantage of historically low interest rates and (generally) lower deposit requirements albeit in an environment where banks are clearly reluctant to take on high-risk customers. Like 2008’s GFC we are it seems in the midst of a once in-a-decade buying environment brought on by an event no one could have expected.  

That said and in as much as I’d expect some apartments to sell at a relative discount, prices overall are holding up very well because of the obvious historically cheap finance and lower deposit requirements but also because, I believe, five weeks of lockdown has led to a larger than normal ‘block’ of buyers looking to purchase at once. Widespread press about strong apparent market demand and consequent fear-of-missing-out by some facing strong and motivated competition has led to prices being driven up.

Impression Real Estate is a full-service Agency and in addition to having the best apartment sales team in Auckland, also manages 1300 apartments on behalf of their owners and 8 buildings.  As such we have a massive, captive group of potential buyers we can access on behalf of sellers. The considerable number of buyers that pool attracts also means that we invariably have many on and off-market sellers that we can get buyers in front of.

If you’re looking to take advantage of this once-in-a decade opportunity to either buy or sell Auckland apartments give me a call on 0222000258 or drop me a line at adamb@impression.co.nz and I will put you in touch with one of our experienced team.”

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