The market is on fire…. there is really no other way to say it! On the back of a heated market last year and a much publicised crash in the market pending according to many in "the know" we can now say our advice we have been giving around the market is still holding out.
We saw a final result from the REIV for last week of 78% clearance rate compared to 77% on the same weekend last year, at this time when we were astounded by the strength of the market.
Where is the market going? Who really knows, what we can say is that there are no signs yet of us reaching the peak that will cause the correction. What is driving this is a low number of properties on the market compared to the number of buyers, a simple supply and demand philosophy coupled with low interest rates and an ever growing population.