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Houses wanted as market recovery indicated
Arrowtown real estate agents are looking for sellers as the housing market shows "reasonable" signs of recovery.
Ray White sales consultant Craig Scott said there was a shortage of houses for sale at the lower end of the market.
"We've gone through the Christmas period and our stocks have been depleted.
"Sellers are a little bit scarce at the moment."
About three open homes in McDonnell Rd had attracted much interest during the Michael Hill New Zealand Golf Open recently.
"That's the same access road used to get to the Michael Hill course, so there was an awful lot of traffic passing in four days," he said.
"A number of people come to town for holidays and see how beautiful it is and are inspired to buy property here, whether that's to shift permanently or a holiday home," he said.
He encouraged people who had been reluctant to sell during the recession to put their homes on the market.
"If property is priced right it will sell.
"The market is showing reasonable signs of recovery.
"People are more interested in buying than they were 12 months, and definitely six months, ago," he said.
Those buying holiday homes to let had a good chance of getting a return.
"There's never enough [houses for rent] during the year.
"We're always looking for them in our rental division."