by Graham McIntyre | Mar 2, 2018 | House$ales
Let’s not get ahead of ourselves, nor predict the future rise or demise of the local real estate market just yet. Different economists and different polls have outlined a steady as she goes approach to real estate demand and prices seem to be more settled. A slow-down in new home sales and new home construction would indicate that there is a growing gap between what builders want to build and what the market is seeking to purchase. Banks are still restricting lending and placing increasing demands on home owners and investors. Banks are seeking a lower risk profile and an increased asset pool to balance their score cards. Most of the industry feedback at present is that the property market is in a stabilising phase with the looming reality of a slight lift in lending interest rates towards the end of the year. Which-ever way you cut the cake it is interesting times in balancing environments. Let’s look at the sales for the month: Hobsonville Residential $747,500 to $1,095,000. Massey Residential $545,000 to $840,000. Royal Heights Residential $670,888. Taupaki Lifestyle $1,350,000 West Harbour Residential $637,500 to $1,358,000. Waitakere Township $670,000 to $780,000. Upsizing or downsizing or liquidating, there are a number of things that will be important to you; a) the agent needs to be experienced and highly qualified; b) the process must attract a volume of buyers; c) the advertising plan must attract the right buyers to view the property; and d) you must feel part of the journey and involved in the success of the sale. At Mike Pero Real Estate,...
by Graham McIntyre | Feb 1, 2018 | House$ales
February is historically the month that people start implementing their Real Estate plans which normally intersect a range of influencers. One of the influencers is the Banks who have had the loan value ratio relaxed by the Reserve Bank allowing more funding to flow through to home buyers. Investors and Overseas buyers are still being heavily restricted however there is some speculation that further relaxing may come into effect to try to encourage more rental property numbers to come back onto market. One of the side effects of the Reserve Banks tightening of restrictions on banks to the Auckland Investor market (requiring 40% deposit) has delivered a dramatic lack of rental properties in the Auckland market, a hole that Auckland Council and Central Government are now forced to solve, through emergency accommodation and state housing. One thing is for sure, New Zealander’s demand for property ownership is strong and Auckland Real Estate will always outperform every other property market in New Zealand. Let’s take a look at local sales numbers: Hobsonville residential $970,000 to $1,350,000 Massey residential $445,000 to $1,275,000 Royal heights residential $530,000 West Harbour residential $720,000 to $1,770,000 Waitakere residential $780,000 to $800,000 Whenuapai lifestyle $2,600,000 Upsizing or downsizing or liquidating, there are a number of things that will be important to you; a) the agent needs to be experienced and highly qualified; b) the process must attract a volume of buyers; c) the advertising plan must attract the right buyers to view the property; and d) you must feel part of the journey and involved in the success of the sale. At Mike Pero Real Estate,...
by Graham McIntyre | Feb 1, 2018 | House$ales
February is historically the month that people start implementing their Real Estate plans which normally intersect a range of influencers. One of the influencers is the Banks who have had the loan value ratio relaxed by the Reserve Bank allowing more funding to flow through to home buyers. Investors and Overseas buyers are still being heavily restricted however there is some speculation that further relaxing may come into effect to try to encourage more rental property numbers to come back onto market. One of the side effects of the Reserve Banks tightening of restrictions on banks to the Auckland Investor market (requiring 40% deposit) has delivered a dramatic lack of rental properties in the Auckland market, a hole that Auckland Council and Central Government are now forced to solve, through emergency accommodation and state housing. One thing is for sure, New Zealander’s demand for property ownership is strong and Auckland Real Estate will always outperform every other property market in New Zealand. Let’s take a look at local sales numbers: Coatesville lifestyle $1,240,000. Helensville lifestyle $898,000 to $1,490,000. Helensville residential $410,000 to $750,000. Huapai residential $810,000 to $865,000. Kumeu lifestyle $1,055,000 to $2,400,000. Muriwai residential $812,500 to $1,075,000. Riverhead residential $865,000. Taupaki lifestyle $975,000 to $2,100,000. Waimauku residential $870,000 to $1,330,000. Waitakere residential $780,000 to $800,000. Whenuapai lifestyle $2,600,000. Upsizing or downsizing or liquidating, there are a number of things that will be important to you; a) the agent needs to be experienced and highly qualified; b) the process must attract a volume of buyers; c) the advertising plan must attract the right buyers to view the property; and...
by Graham McIntyre | Oct 13, 2017 | House$ales
The number of homes being sold remains well down on last year, but prices are stable or down slightly. The number of properties sold in Auckland is down almost 22% on last year, however within this figure some communities are harder hit than others. While the Auckland median price rose from $830,000 in July to $840,000 in August. This figure also highlights two factors; a) more new homes selling at a higher price; and b) fewer sales volumes which skews the result. But this value is down from Auckland house pricing peak of $905,000 reached in March 2016, prices have softened in Auckland. The REINZ’s House Price Index, showed Auckland prices were down almost 3% in August compared to 2016, while prices in the rest of the country, excluding Auckland, were up 7% for the same period. It is also taking longer to sell properties, with the median number of days required to sell up to 37 in August compared to 30 in August 2016. There has also been a big decline in auction sales, in Auckland the number of auction sales was down by 61% compared to a year ago. With all this in mind it is a great time to improve your real estate position, the gap between what you have and what you want might be smaller than in 2016 and competition may well be less. Therefore if you are seeking to upsize, under your terms and favourable conditions give me a call today to discuss the best process to give you an edge. Let’s have a look at the local market: Coatesville lifestyle $ 1,550,000...
by Graham McIntyre | Jul 4, 2017 | House$ales
Auckland’s housing market will provide little relief for first home-buyers nor investors amid an estimated 40,000 property shortfall which seems unlikely to be realised given a flat line by mortgage providers. Diverting investors into building new properties was the Reserve Bank’s key to alleviating the city’s shortage of affordable homes but restrictions in lending and in offshore fund draw-downs for buyers has seen a significant hand brake applied to purchasing. Auckland still needs over 40,000 new houses however demand has been largely from property migrators rather than investor buyers which has impacted directly on buyer demand and funding misalignment. The Reserve Bank loan-to-value restrictions have been slowing the market for some time and possible rising interest rates in 2018 will consolidate that slow-down and reduce price pressure by scaring some out of the market. Property investors have represented between a quarter and almost half of the market and the removal of this group from the market has had a direct and significant impact on the Auckland market. Further to this, mortgage providers will need to show flexibility to allow buyers choice and confidence to invest. Let’s consider the sales. Herald Island residential $2,350,000 Hobsonville residential $665,000 to $1,860,000 Massey residential $560,000 to $1,450,000 Royal Heights residential $450,000 to $1,056,000 Taupaki lifestyle $1,200,000 to $2,200,000 West Harbour residential $710,000 to $1,056,000 Waitakere residential $720,000 to $769,000 Waitakere residential $850,000 to $1,685,000 Whenuapai residential $1,300,000 to $12,200,000 So whatever you decide and when you decide, it costs nothing to give us a call, or get us around, for a discussion about how we support you through the marketing and decision making...
