Fallout from the world's financial crisis and the release of the National Government's budget has provided major influences on the world of real estate in New Zealand.

We have seen previously booming regions of New Zealand fall from the heady highs of 2007 into negative territory. We have seen proposed new developments shelved more quickly than milk nearing its used by date. and property speculators have closed their cheque books as banks stall lines of credit.

All in all it has been a turbulent time for the economy and particulary for the real estate industry in many regions. Yet there seems to have been a calm in the midst of this storm, a region within a region that no ill winds have spoilt. In times of near zero interest rates and banks not willing to lend to even the best prospect, in a time where just last month the average house price dropped 1.4%nationally, there is an oasis of sanity and even fair play.

This sanctuary is the geographical area of Goodwin Realty. The quality stock of housing and the unique lifestyle qualities of this area have weathered the tumultuous storm of depressing financial data just fine, thank you very much.

Recent sales figures released for the May period 2010 again demostrate a substantial growth in values across our catchment. In a synopsis of year on year market inventory it is appropriate to identify supply to market is far greater than this time last year. Property sales remained flat on a seasonally adjusted basis with 1,664 in May as compared to 1,665 in April, Auckland wide. Sales for the first 5 months of 2010 reflect a 5% lower level than the same period on 2009. property prices reflect a stable environment and based on stratified mean pricing our core trade area represent on average a 16% higher average to Aucklands wider market. In overall terms it would be identified the market is stable if not showing relative signs of robust activity compared to other regions.

As always conjecture over whether prices are stablising, decreasing or increasing continues. There is no doubt peripheral influences such as GST changes, tipped interest rate rises and world wide uncertainty to major currency traders suggest an unsettling period ahead. The over-riding question remains, central desirable suburbs, school zoning desirability coupled with population increase, will that influence our thinking and buck the trend the other way..? Let's hope so.