2011 - Sales Volumes - Where to from here?

It's interesting reading about different articles about the NZ property sector and predictions for 2011. The only thing I can state with certainty is that it is an inexact science - people who are looking to buy believe house prices will fall - while house owners are ever hopeful that prices will rise again.

In Auckland particularly, the average house owner is ‘maxed out’ when comparing mortgage repayments to salary – inevitably house prices have to relate to salaries and without massive immigration I cannot see house prices rising to any great extent – accordingly many investors are not in the market and this is a leading reason why sale volumes have fallen away. I believe 2011 will see a ‘coming together’ of Vendors and Purchasers expectations and sales volumes should be higher than the dismal figures of 2010. They will however remain significantly lower than the years leading up to the Global Financial Meltdown. For those of us in the Property Sector we hold out hope.

I’m hoping to build a significant software enhancement in KeyTrack this year which again will see new and improved methods introduced to lawyers, real estate agents, bankers & local councils using the cloud environment. There are still a few issues to work though but I will make further announcements about this on KeyTrack’s Facebook page. The new enhancement will attract further attention from lawyers ‘sitting on the fence’ when it comes to making a decision about adopting KeyTrack for their clients.

Good Luck to all our users in 2011 from Richard Galbraith @ KeyTrack & Conveyancing.co.nz

Posted: 25 Jan 2011

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