In the realm of real estate, the only constant is change. Nowhere is this truer than in Lower Hutt, where the market seems to sway like a pendulum, influenced by a myriad of factors. From the presentation of homes to their location, each week brings a new narrative. Yet, amidst this flux, a gradual upward trend is discernible, offering both challenges and opportunities to prospective buyers and sellers alike.
Increased Listings on the Market – Compared to this time last year the market is certainly picking up. Stock levels have increased and there is a higher sales count. We are doing more appraisals and seeing a bit more of an increase in the number of homes coming to the market, but nowhere enough to satisfy buyer demand.Strong demand for properties under $800K – Properties that are listed under the $800K price bracket will typically get between 15-30 potential buyers through on the first open home, and an offer within a month. Anything reasonably well priced will sell within a month. The properties that are on the market longer can take some time to sell until the price reflects what buyers are looking to pay.
New builds are providing more options for buyers – There are around 150 new homes available in Lower Hutt, some of which are off the plans. There are a variety of single-storey, semi-detached, and terraced homes, the majority with two bedrooms, a few with one, and very few bigger residences.
Due to their affordability and accessibility, two-bedroom houses are becoming increasingly popular, even among families with young children.
School zoning can influence buyers – Buyers do generally prefer looking at homes in areas zoned for good schooling, however, affordability becomes a key factor as they explore options farther from the central areas, where housing costs tend to be lower.
In Lower Hutt's real estate market, things are always shifting. Buyers need to stay flexible and adapt to changes, while sellers work to make their homes stand out. But no matter what, Lower Hutt offers plenty of chances for people to find their dream home or make a smart investment.
