Forbar specifically says resales are weak on SUM.
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I'd say that over last 6 months new sales have been a bit on the weak side but resales going great guns
Last 6 months new sales were down 48 on last year while resales were up 20
And SUM they noted that the June quarter resales at 147 was the highest number they had ever sold in a quarter ... a record
Just spoke with a local real estate agent and they say things are turning around and quickly. Lots of oldies needing to move out and lots of first home buyers coming in with cash ready to go. Lots of houses have been lived in for 30+ years without any renovations. Why don’t people do anything to their houses for 30+ years I never understood. Ps. Areas with good homes getting good multiple cash offers and sold within 4 weeks.
"Lots of houses have been lived in for 30+ years without any renovations"
Expensive and disruptive. The empty nester parents probably have no need for the changes eg a kitchen is still a kitchen.
Normally something new 'broom' owners do to suit their needs.
Is this the best play in the "oldies" sector? I'm looking into all these NZ ones. Old people: could be the future!