Southland Property Market Booming in 2019
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Southland is experiencing a property boom and buyers need to get their financial ducks in a row to ensure the don’t miss out on their dream property, Invercargill mortgage and insurance advisor Brenda Nom says.
Brenda, who started her business in 2012 after a 10-year career in banking, said demand for property in Southland was outstripping listings and prices were rising.
“There’s not enough listings and there’s so many buyers.”
As her business was busier than ever, two of her staff had now trained as advisers so they
Real Estate Institute of New Zealand figures released this month (February 14) show Southland experienced record median house prices in January, increasing 15.6% to $277,500 (up from $240,000 at the same time last year).
The property market was likely to be busier again, with February and March traditionally being dominant months for selling and buying, Brenda said.
With so much demand for property in Southland, it was doubly important people were in a position to make the strongest offer possible when they found the home they loved, she said.
Another aspect was that more and more people were looking at building homes in Southland.
“I’ve never seen so many people wanting to build,” she said.
Stats NZ figures confirm increased interest in the Southland home building market, with 208 consents for new dwellings in the 2016 year rising to 288 in 2018 (year ending October) – a 28% rise.
Being confident and in control of the homebuying and insurance processes gave people more chance of securing the property they wanted, she said.
“We work hard to get you into your dream home, then we get protection in place to make sure you can keep it.”
This month Brenda and her team are celebrating seven years in business, and she has her sights on building the business further – putting out some feelers into the Central Otago market.
She says positive word-of-mouth has been the biggest factor in her team’s success.
“Word of mouth is great, and if you’re good to your clients, word spreads.”
Whether people were looking for a mortgage, refinancing, or personal insurance, walking them through the processes involved saved time and money, and gave them peace of mind, she said.
This was particularly true of people looking to use KiwiSaver HomeStart grants, as they could bring together the best possible package for clients, she said.
“The biggest thing is saving people time,” Brenda said.