Riding the Wave: Tauranga’s Housing Market Surges Upward
Tauranga’s housing market is experiencing a resurgence as mortgage interest rates stabilise, and boutique real estate agency East Realty is riding this upward trend at the forefront. In June, the agency achieved an incredible feat by selling four properties in just five days. Real estate agent Tracey East provides insight into the current state of the ever-changing Tauranga market.
Four Properties Sold in Five Days
East Realty’s Trevor and Tracey East are setting a new standard in the real estate world with their unparalleled expertise and personalised approach.
Last month, the realtor duo achieved remarkable success by selling four Tauranga properties between June 16 and 20.
Located in popular suburbs including Pyes Pa and Welcome Bay, these modern family homes were sold quickly thanks to the team’s dedication and tailored marketing strategies.
“By crafting tailored marketing strategies that highlighted the unique features and benefits of each home, we were able to capture the attention of buyers and turn their dreams into a reality,” says Tracey East.
East Realty’s free marketing package includes eye-catching listings on New Zealand’s top real estate listing sites, social media campaigns, and professional photography and copywriting to show sellers’ houses in the best possible light.
More People Attending Open Homes
Tracey says she has noticed a rise in the number of people walking through the door during open homes.
The increased foot traffic offers an excellent opportunity to showcase properties to a wider pool of interested buyers.
Gone are the days of impersonal, rushed showings. Trevor and Tracey understand the importance of creating a warm and inviting environment for potential buyers to explore properties at their own pace.
“You only have to look at the number of shoes sitting on the doorstep during an open home to see how much demand there is. It is a sure sign of the market taking a turn for the better,” says Tracey.
Low Stock Means High Competition
As potential buyers flock to open homes, the limited supply of houses is creating a sense of urgency and strong competition.
A recent Real Estate NZ Property Report shows the number of listings coming onto the market hit a 16-year low for March, with new listings dropping to almost the same level as during the 2020 lockdown.
Winter can see lower listing numbers than warmer months, but data still shows stock numbers are dropping.
In the Bay of Plenty, the number of houses on the market for June was 1644, which is down 12.6% on June the previous year.
As the market takes a turn, buyers are faced with the challenge of securing their new home in a highly competitive environment.
Stable Interest Rates Fuel Demand
One of the other driving forces behind the resurgence of Tauranga’s housing market is the stabilisation of mortgage interest rates.
Since 2021, mortgage rates have been surging from their low of about 2.2%, up to around 7%, where they are sitting today for a 6-month fixed rate.
Economists are forecasting rates have now peaked, which has given buyers more confidence in applying for mortgages.
Moving With the Times
Trevor and Tracey founded East Realty with a clear mission; to redefine the real estate experience in Tauranga.
As the housing market flourishes and mortgage rates settle, they continue to embrace change and adapt to the evolving needs of their clients.
The experienced realtors’ recent success selling four houses in just five days is a testament to their expertise and commitment to delivering exceptional results.
With their innovative approach and unwavering dedication, Trevor and Tracey are shaping a new era in Tauranga’s real estate landscape, offering clients a tailored experience.
Thinking of Selling?
Call Trevor on 027 577 6737 or Tracey 027544 5691 for your free appraisal.