News

As Wellington heads towards summer, more people are turning up to open homes, but buyers are still taking their time before making an offer.

“We’re seeing more people at open homes, which is encouraging, but buyers are still cautious,” says Tommy’s Real Estate salesperson Alexia Stoddart. “They’re doing their homework, comparing properties carefully and negotiating hard. Price and presentation are making a real difference.”

For first-home buyers, greater choice and improved affordability compared with the market peak are giving more people a chance to explore what’s within reach.

“First-home buyers are doing the legwork and taking time to look around,” says Tommy’s salesperson Chris Robinson. “We’re also seeing family home buyers move decisively when a well-presented, desirable home comes to market.”

That preference for move-in-ready homes can make it harder for properties that need work to sell quickly. Buyers are weighing up what they’ll need to spend after settlement as well as what they can afford to offer.

“Buyers want to feel confident that a property stacks up on both price and condition,” says Alexia. “When a home is presented well and offers clear value, it’s much more likely to generate a serious offer.”

Chris says there are also signs of greater stability as buyers and sellers settle into the current market.

“People are adjusting their expectations,” he says. “Sellers are recognising they may not achieve a record price, while buyers aren’t feeling the same pressure to pay well over what they’re comfortable with.”

For owners considering a sale before Christmas, there may still be time. Chris says buyers often remain active right up until the holiday break, and whether to list will depend on how much work the property needs before it’s ready for market.

Alexia recommends allowing around six to eight weeks for preparation, marketing and negotiations. If that makes a pre-Christmas sale too tight, owners can use the summer break to get organised for a late January or February launch.

Whenever you decide to list, look at what buyers can get for a similar price and focus your preparation on the things they’ll notice when they walk through the door.