The school holidays have started. In addition to the holidays is the start (1st October to 16 October) of the Auckland Heritage Festival. There are more than 160 activities (some free) Auckland-wide. Auckland Diwali Festival is this weekend 8 and 9 October 2022 at Aotea Centre.
On the real estate front, it’s been a busy week for me. 7 Kupapa Road, Sunnyvale went Unconditional and I have a multi-offer on G6/102 Edinburgh Street. Buyers are wanting to get settled before Christmas, now that the OCR has been raised to 3.5%.
This new OCR rise is the eighth consecutive time the Reserve Bank opted for a rates rise, and sixth increase in 2022 alone – February, April, May, July and August saw similar action.
According to KiwiBank, for borrowers an extra 3% on a mortgage of $800,000 means an increase in repayments of $24,000 a year – spread across twelve months that’s an additional $2,000.00 per month*
We still have 11 weeks before Christmas. For some families it is a stressful time. For folk that have been on the market with no action, please give me a call. 7 Kukupa Road was marketed by another company for 90 days and no joy, and sold by myself after seven weeks. Let me help you make that sale before Christmas.
With warm regards
Debbie Debbie Gordon Barfoot and Thompson