Fact or Fiction – Reading Between the Lines of Property News
- Written by
- Rachael Webber
If you’ve been keeping an eye on property news over the past 12 months, you could be forgiven for getting a bit confused. One minute things are flat-lining, the next prices are at record highs! So who, and what, can you believe?
Micro-climates exist in the property world
The media often make sweeping generalisations when it comes to reporting on the property market. So, it is important to look further into the numbers to understand what is relevant to your home’s location. For example, Taupō isn’t really susceptible to huge fluctuations, and we’ve had some record-breaking months recently.
Every house is unique
In any market there will always be a type of home that is in demand with buyers – what it comes down to is each individual property and its selling points. Never assume your property won’t fetch top dollar just because the daily paper is saying so.
Headlines are meant to grab your attention
Remember, headlines are written to draw you in/sell papers, so it’s critical to have an open mind when reading a heading like, ‘Biggest price fall since the recession!’ Take these sensationalised statements with a grain of salt – they are almost always not as they seem.
What goes up must go down
The property market by its very nature is cyclical – generally fluctuating over a seven-to-ten-year period. The four components are boom, bust, bottoming and recovery. However, there’s no need to panic – these aren’t as extreme as they sound. It is actually imperative these things happen to balance out the market when prices are too inflated. A correction is not a crash.
Rachael Webber
Call: 021 241 0061
Email: Rachael.Webber@nzsir.com
Go online: tauporealestateagent.co.nz