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Home / Rotorua Daily Post

Open homes surge after vote

By Dana Kinita
Rotorua Daily Post·
26 Sep, 2014 06:30 PM2 mins to read

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The election result seems to be having a positive effect on Rotorua's real estate market.

Real Estate Institute of New Zealand figures showed nationally the market appeared to be "idling" as buyers and sellers awaited the outcome of last Saturday's election.

But on Sunday, attendance numbers at Rotorua open homes increased compared to the weeks previously, McDowell Professionals managing director Ian McDowell said.

"Three of our salespeople saw a big increase with 19 groups through one property another had seven groups.

"Recently we sometimes had no one through or just a couple.

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"I'm sure it is [because of the elections] there is certainty in the market now," he said.

"We're confident there will be a definite increase in enquiries, one of the worries before the election was the capital gains tax, investors were concerned.

"I feel people were holding back a little but we are pretty confident things will now start to lift."

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Ray White Rotorua co-owner Anita Martelli said it saw "good numbers" through homes on both days of last weekend but attributed that mainly to its 17-page advertising spread in the Property Guide on Saturday.

"We were very busy, we had a good response," she said.

"We've just had a meeting and in general everyone saw a good turnout. Some of them had 15 people through, we've also have been having multiple offers coming in.

"I do think there will be an increase in confidence after the election, it gives people stability and people are familiar with the Government, there's no uncertainty."

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Principal agent and salesman for Harcourts Rotorua Hielke Oppers said it was too early to tell what effect the elections did have but it had enjoyed good attendance at recent open homes.

"What we have seen in the last few months are people sitting on the fence waiting to buy, especially in the investors' market," he said.

"A lot of people are looking to buy now and enjoy the next wave of increase in property prices, if people did that in a Labour government, they possibly may have had to have paid capital gain tax.

"It makes a huge difference in people buying at a good price now and selling it down the line."

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