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Buyers back in force on Kapiti Coast

A Waikanae property marketed by First National has attracted over 180 people at just three open homes, proving confidence is back in the Kapiti Coast property market.

First National Waikanae principal Ingrid Chew said that kind of interest was unheard of a year ago. The market had slowly recovered over the past 6 months and was now at “cruise altitude.”

Sales volumes in the business were up 50% on same time last year and enquiry was continuing to increase, after a tough 18 months.

“Properties in our area are now taking less time to sell. We sold one property recently after just one day on the market. It was well presented, in a good area and priced well.

“Prices have become more realistic. People are no longer scared of selling on a market where they may get a lower price than they initially felt their property was worth, when they realize they are buying at a lower price also,” Ms Chew said.

“It has taken a while for that to sink in but people are coming to terms with the new level where the market has now stabilized.

“As well as providing somewhere stable and attractive to live, property for a lot of people will always be a sound, long term investment.”

The landmark Waikanae property, marketed by First National’s Grant Longstaff, had not been on the market for 27 years.

It is a picture perfect colonial style weatherboard home with character, set in almost one acre of botanical gardens, maginificent mature trees and vast lawns. With an RV of $480,000 a couple has just bought it at auction for $702,000.