Maria Stephens, eXp Realty

PHOTO: EXP Realty’s New Zealand head Maria Stephens

According to STUFF Wellington homeowners wanting to maximise their sale price should avoid investing in renovations and take their property off the market, one real estate expert says.

Fergs Coffee

But local agents disagreed as the future trajectory of the market was unknown, and homeowners should sell when the time was right for them.

“For those that are not under time pressure to sell, I would advise them to consider taking their property off the market, until we start to see a recovery and their price aspirations are more achievable.”

Nasdaq listed agency EXP Realty’s New Zealand head Maria Stephens said accessing finance was a significant barrier for many buyers in the current market, and the related fall in demand was putting downward pressure on prices nationwide.

But the Wellington market, which accounted for 10% of homes sold, had fallen further away from the national average, she said.

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