Now Is a Good Time To Upgrade Your Home

Exterior home renovation

Exterior home renovationHomeowners in New Zealand who plan to sell their homes should consider some improvements to their properties to increase the value of their houses.

These upgrades can range from a major expansion to something as simple as window tinting. In Wanganui, for instance, a makeover seems timely given the performance of the housing market in recent months based on asking prices and property values.

Wanganui Real Estate

The average sale price for a house in Whanganui rose more than 12 percent in December 2017 year over year, amounting to $327,500. A five-bedroom property fetched for $560,450 on average, while those with three or four bedrooms sold for more than $332,000 for the month.

The average asking price for a one- or two-bedroom house was $223,700. The situation improved in March when home prices in the Manawatu-Wanganui rose 12.3 per cent to $292,000. Hence, an upgraded house lets you sell for a higher price.

The trend of strong price growth also took place in other cities, although Auckland served as an exception due to a decline in values.

Nationwide Market

The Real Estate Institute of New Zealand (REINZ) said that nationwide residential property prices increased 1.8 per cent in March year over year to $560,000. If Auckland is taken out of the picture, prices only increased to $460,000. But, this still represented a 6.2 per cent growth.

Wellington ranked among the regions with a double-digit increase in prices. Home values in the city cost $583,000 for the month. Gisborne home prices cost $330,000, but it recorded the highest annual growth at almost 18 per cent, according to REINZ data.

Kiwis should take advantage of higher home prices by upgrading their houses before a sale. Even if you do not plan on selling now, any improvements will help in increasing the value of your property.