Researching the Housing Market in Your Desired Area
A deep-dive into the area you want to call home
Getting to know your areas - the ins and outs of the local housing market and the quirks that make up its soul - is crucial for making an informed decision. With a little research, you can uncover valuable insights that will guide you straight to your new home.
Start by exploring the market trends in your chosen locale. New Zealand has a diverse range of housing markets, from bustling urban landscape to serene rural surrounds. Each area has its unique demand and supply dynamics, which can affect property prices and availability. You might want to check out online real estate platforms such as TradeMe Property or RealEstate.co.nz for up-to-date listings and price indications. Make sure to engage with real estate agents; they have a wealth of knowledge about the local market and can offer insights that aren’t readily available online. Another valuable step is attending open homes and auctions. This hands-on approach allows you to get a feel for what’s available in your price range and understand how competitive the market is. One important tip is to check that the property is actually in the suburb that is shown in the listing. One concept that some agents use, which is a questionable selling tactic is to put bordering properties listed as being physically in the better suburb, to influence salability. On a piece of analysis completed by the team in Christchurch out of 23 Merivale properties listed on TradeMe there were 8 that were not in the Merivale suburb according to NZ post address checker. We will refer to this process as 'Merivaling' on this site. You can always check any property in New Zealand here on the NZ Post Address and Postcode Finder Here is a real example of 'Merivaling'. The listing has a display address of Merivale, which is not true given that the TradeMe map address clearly states St Albans on the same page, and the NZ Post address checker also shows St Albans. Given St Albans is not Merivale, this information is not accurate. Understanding the community is just as important as the house itself. Look into local amenities, schools, transportation options and community services that are available in the area. These factors can significantly impact your quality of life and may also influence future property values. When evaluating properties, consider their historical price data. This information can give you an idea of how property values have changed over time and help you predict future trends. Local councils often have records on property sales in the area, which can be a helpful resource. It’s also wise to delve into zoning regulations and any planned developments in the area. These can affect future property values positively or negatively. Upcoming infrastructure projects might enhance accessibility and desirability, while changes in zoning could increase density or change the character of a neighbourhood.
