Property Bouncing Back

Taken from  the Campbells Bay Times October 2009 
Graeme Udy, who heads Harcourts Top Bays Realty in Campbells Bay, reports the East Coast Bays property market has been performing exceptionally well since the start of 2009. “I can confidently say we have more buyers willing and able to purchase immediately than we have property available for sale,” says Udy. Well-presented realistically-priced houses in Campbells Bay are selling quickly, especially those in the medium price bracket - $400,000 to $800,000.

Real Estate Institute of New Zealand figures record 18 dwellings sold in Campbells Bay during 2008, whereas 25 have sold in the eight months to the end of August 2009. The average price of a house in East Coast Bays is $542,500, compared with $740,000 for Campbells Bay and properties are taking an average of 31 days to sell. Udy says the upper end of the market was hard hit during 2008 but is now showing signs of bouncing back. Top Campbells Bay price so far this year? Around the $4 million mark for a cliff top residence. “All the indicators point to a very buoyant market for the remaining months of this year,” says Udy.

Residents with an eye for art may like to view works by local painter Lance O’Gorman -- currently on display at Harcourts.