It's usually the next question at an open home after registering - 'So what is the CV of the property?" - it is far too often judged to be an official government valuation of a property. IT IS NOT! - In my view it would be better for everyone if we got rid of CV's
The property market like any type of market is cyclical, it has been on an upswing for 2 years now and the question people want to know is, will it continue? To see where the property market is heading and what will happen to prices you need to look at sales volume trends
We are fortunate in NZ to have a rich and comprehensive database of property statistics, however such richness and diversity can lead to a sense of paralysis. Here is a summary of what is available from where and when and most important of all, what to pay attention to
Perception may be that agents
earn a fortune given the commission rates and escalating house prices -
the facts are a little more sober- the average agent in NZ last year
earned an income of just $43,372 which after costs takes the likely net
income below the "living wage"
Read the full analysis here....
By keeping a watching eye on individual properties online you can learn a lot about the vendors situation and enable you to be a savvy buyer, here's a current example from the Auckland market, were not everything sells in a matter of weeks
everyone knows buying and selling your home is one of the most
significant transactions of your life - financially most people will
never come close to anything as large - yet ask most people what it
costs to use a real estate agent; and most will quote rough commission
rates "around x or y%" - I thought there was value in looking at the
rates and how to find out about them for the public's benefit