• Patrick McBride

Buller and Grey Housing Markets holding

Buller and Grey District housing markets remains positive despite a downturn in national sales.

The number of properties sold in April across New Zealand decreased by -78.5% from the same time last year – from 6,082 to 1,305 – as the level 4 lockdown made it very difficult for property sales to occur, according to the latest data from the Real Estate Institute of New Zealand (REINZ).

That aside, the housing market is holding up on the West Coast. Greymouth Property Brokers Sales Consultant Rob Maskill said there has been a large number of people moving into the district from the far North and deep South.

"Prices in Greymouth have remained unchanged and are proving to be good value for a move to the area. Great for first home buyers and we are still seeing investors buying in our market." he said.

The market on the West Coast was surprisingly active throughout April, including in the Buller area with strong interest in both investment properties and various holdings related to the onsale of Lafarge Holcim’s Cape Foulwind assets.

REINZ stated on the flipside, the Westland District showed a noticeable slowing, which reflects the current uncertainty in the community, with their high level of regional tourism-based employment.

There is plenty of positive talk around the removal of LVRs and a return of first home buyers on the West Coast.

"If you are thinking of selling our advice is to do it now while the market still has active buyers around. We are keen to get your property onto the market and sold," Maskill said.