There has never been a better time for first home buyers to enter the market than now, according to staff at Eves Realty in Tauranga.
The company, which is celebrating after having a record number of auctions aimed at first home buyers this week says with interest rates at an all-time low and residential market values dropping, first home buyers need to “get in there”.
“Do it now,” says Eve Realty group sales and marketing manager Karen Worley.
“I believe, and all the reports are telling us, that it’s never been a better time to buy for first home buyers.”
They need to get into the market – before investors come back, she says.
“People are paying more for rent than they can own a home for.”
In Tauranga, between January and March, 64 per cent of industry sales were under $400,000 and in Mount Maunganui 47 per cent were under $400,000, says Karen.
“When those sorts of numbers are happening you’ve got to cater for that market.
“So that’s what we did.”
Eves is holding seminars for first home buyers, with 75 people attending the seminars earlier this month and more planned for July.
They cover building reports, valuations, how to bid at auctions and finance issues.
“We also gave away $1100 vouchers to help with their purchase.”
Karen says many of the young couples, solo mothers and professional singles who attended the seminars were at an auction on Tuesday where 31 homes were sold under Eve Realty’s first home buyer’s campaign.
Company auctioneer Grant Child says the day was “very successful”.
“I was very, very pleased with the outcome.”
A total of 13 homes were purchased.
“It went extremely well; we had good interest in a lot of the properties.”
“As a real estate sales person it fills your heart to see these young people coming in and buying homes.”