The news around the country is that sales volumes are up at record levels and prices are rising and it is no different here in Kerikeri.

Low interest rates, returning expats and strong migration of New Zealanders from the cities to the Far North has caused a dramatic upsurge in enquiries and sales. This has led to diminished listing stocks across the region.

Covid-19 lockdowns showed people how they can successfully work from home and attend meetings on the internet using apps such as Zoom. The trend is for people to now look to work where they want to live, near the beach or 5 minutes from the boat-ramp, versus tackling the congestion of the city. This has created a phenomenon coined “Zoom towns” and Kerikeri appears to be top on the destination list.

Investors are looking for better returns than their bank term deposits are providing and they see property as less risky than the equity markets.

Growing families are buying properties to obtain that extra bedroom and able to refinance at record low rates so that their payments remain the same or less.

Kerikeri and surrounds had 94 unconditional residential or lifestyle sales in August and September compared with 54 in the same period last year. A whopping 75 percent increase. The median price for a house in Kerikeri was $720,000. As more buyers seek property in the area and listing stock become scarcer, vendors are finding their homes are being snapped up at prices above their expectations.

With interest rates set to stay low for a while yet and inward migration to New Zealand expected to surge when bubble borders are reopened, economic experts are predicting that the market will stay strong for the foreseeable future.

Pop in for a coffee and a catch up with any one of us if you are thinking of buying or selling.