Why 2 Weeks Before Christmas is the Best Time To Buy
November 28, 2024
As the festive season approaches, many people wind down for the holidays. However, savvy property buyers know this time of year is an opportunity to secure incredible deals in the market. Here's why the weeks leading up to Christmas are a goldmine for property buyers.
1. Developers Are Highly Motivated
Developers holding unsold properties are keen to sell before Christmas due to mounting holding costs, which can range between $5,000-$10,000 per month. Additionally, properties approaching six months post-Code Compliance Certificate (CCC) face stricter deposit requirements, making developers even more eager to sell before stricter deposit conditions are put in place..
2. Lower Interest Rates Create Opportunity
The recent 0.5% drop in the Official Cash Rate (OCR) is a game-changer for buyers. Lower interest rates not only make home loans more affordable but also encourage conversations about long-term property goals during the Christmas break.
This trend aligns with the annual market surge in January and February, where buyer activity increases significantly. With more buyers in the market post-Christmas, developers will likely reduce their willingness to negotiate.
3. Security Concerns Drive Sales
Vacant homes are a concern during the holiday season, as they can become targets for security issues. Developers are motivated to sell these properties before Christmas, offering buyers an excellent chance to negotiate favourable terms.
Why the Two Weeks Before Christmas Are Ideal for Buyers
**Wide selection: **Choose from a variety of listings.
Motivated vendors: Developers are eager to close deals quickly.
Fewer competitors: Most buyers are distracted with holiday preparations.
Don’t let this prime buying season slip by! Take advantage of these opportunities and secure your dream property before the New Year.
The SM Property team are a specialist new build real estate agency, so if you have any questions about the process, let us know! We have several property options across Auckland, Wellington, Tauranga and Christchurch.
