Real estate agents never want to say the words “falling market”. But markets do rise and fall – and inevitably there will be home owners who have to sell when circumstances change.
That’s not to say that a few months of slight decreases in property values means Auckland is in a falling market.
However, vendors always need to keep their wits about them, and no trend (up or down) lasts forever.
It can be difficult to identify a falling market. A downward price movement, such as seen in Auckland in recent months, could just be a blip rather than the start of a trend.
A month or two of lower prices could simply be because of the stock on the market, interest rates that may have risen, or potential sellers are finding it difficult to buy something else (and so are reluctant to go to market).