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. 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. Coatesville lifestyle $ 2,625,000. Helensville residential $ 585,000 to $ 845,000. Helensville lifestyle $ 1,059,000 to $ 1,225,000. Parakai residential $ 459,000 to $ 790,000. Huapai-Kumeu residential $ 970,000 to $ 1,240,000. Huapai-Kumeu lifestyle $ 1,508,000 to $ 2,235,000. Riverhead residential $ 740,000 to $ 1,620,000. Taupaki lifestyle $ 1,200,000 to $ 2,200,000. Waimauku lifestyle $ 915,000 to $ 2,550,000. Waitakere residential $ 720,000 to $ 850,000. Waitakere lifestyle $ 1,570,000 to $ 1,685,000. Whenuapai lifestyle $ 1,300,000 to $ 12,200,000. So whatever...
by Graham McIntyre | Mar 30, 2017 | House$ales
A flood of new listings to market has increased supply, the reserve bank has continued to put pressure on banks to reduce risk, and reduce offshore lending. Likewise the restriction on investors to borrow on properties in the market continues to slow demand from lower value home owners keen to migrate to bigger houses or new homes. Reduced competition is reflected in some prices softening. Similar to 2008 we are seeing an easing in values but only by a small percentage at this time. We expect buyers to continue to be cautious while the election looms, with less competition and increased time on market. At Mike Pero Real Estate we have moved most of our vendors to an “offer over” pricing to more clearly showcase the indicative value and to provide confidence and clarity in price guidance. We believe this is vital to drive demand based on good value. Let’s have a look at the market sales this month: Coatesville lifestyle $2,330,000 to $2,550,000. Helensville residential $579,000 to $1,250,000. Parakai lifestyle $485,000 to $639,000. Huapai – Kumeu residential $790,000 to $1,050,000. Kumeu lifestyle $2,790,000 to $4,200,000. Riverhead residential $904,000 to $1,375,000. Taupaki lifestyle $1,680,000. Waimauku residential $940,000 to $1,415,000. Waitakere residential $992,500 to $1,400,000. Whenuapai residential $785,000 to $1,225,000. If you are considering buying or selling in this market, give me a quick call on 0800900700 and tell me what you are looking for, what is your wish list and time frame? It costs nothing to ask some fundamental questions that give you an advantage. With Mike Pero Real Estate you will receive some solid unbiased advice, a multimedia...
by Graham McIntyre | Mar 30, 2017 | House$ales
A flood of new listings to market has increased supply, the reserve bank has continued to put pressure on banks to reduce risk, and reduce offshore lending. Likewise the restriction on investors to borrow on properties in the market continues to slow demand from lower value home owners keen to migrate to bigger houses or new homes. Reduced competition is reflected in some prices softening. Similar to 2008 we are seeing an easing in values but only by a small percentage at this time. We expect buyers to continue to be cautious while the election looms, with less competition and increased time on market. At Mike Pero Real Estate we have moved most of our Vendors to an “offer over” pricing to more clearly showcase the indicative value and to provide confidence and clarity in price guidance. We believe this is vital to drive demand based on good value. Let’s have a look at the market sales this month: Hobsonville residential $815,000 to $1,045,000 Massey residential $565,000 to $1,200,000 Royal Heights residential $717,000 to $1,045,000 West Harbour residential $587,000 to $1,200,000 Waitakere residential $992,500 to $1,400,000 Whenuapai residential $830,000 to $1,800,000 If you are considering buying or selling in this market, give me a quick call on 0800900700 and tell me what you are looking for, what is your wish list and time frame. It costs nothing to ask some fundamental questions that gives you an advantage. With Mike Pero Real Estate you will receive some solid unbiased advice, a multimedia marketing kick start including TV Advertising, Magazine showcase and online presence. Further...
by Graham McIntyre | Nov 28, 2016 | House$ales
Let’s consider the facts in this market. Houses are selling, albeit slower than normal and at prices comparable with sales over the last 12 months but without the month on month increases expected previously. The global influences on mortgage funding is not yet overly evident and banks continue to operate in an envelope of cautiousness. The reserve bank is signaling a need to boost and stimulate the market with a reduction in the .25% base rate. Very attractive rates are available for fixed term mortgages through HSBC, Kiwibank and TSB Bank and shopping around is important in this market. Consider where you want to be in three years and make some decisions about where you are, and where you want to be. Having a plan and working towards that goal is very important. It starts with understanding. Herald Island residential $840,000 to $960,000 Whenuapai residential $850,000 to $1,635,000 Hobsonville residential $900,000 to $1,250,000 West Harbour residential $670,000 to $1,180,000 Royal Heights residential $645,000 to $1,279,000 Massey residential $536,000 to $985,000 Waitakere Township residential $745,000 to $780,000 Before you start your journey I would like to meet with you to discuss your many options, the strength within this market, options that you may not have considered and in turn the time frames that you should consider. While I appreciate you have many agents and realtor partners to choose from, I believe that I offer a very honest and transparent approach that will deliver peace of mind and drive confidence. See more at www.grahammcintyre.co.nz or phone 0800 900 700. Mike Pero Real Estate Hobsonville – It’s not about the talk, it’s...
by Graham McIntyre | Nov 28, 2016 | House$ales
Let’s consider the facts in this market. Houses are selling, albeit slower than normal and at prices comparable with sales over the last 12 months but without the month on month increases expected previously. The global influences on mortgage funding is not yet overly evident and banks continue to operate in an envelope of cautiousness. The reserve bank is signalling a need to boost and stimulate the market with a reduction in the .25% base rate. Very attractive rates are available for fixed term mortgages through HSBC, Kiwibank and TSB Bank and shopping around is important in this market. Consider where you want to be in three years and make some decisions about where you are, and where you want to be. Having a plan and working towards that goal is very important. It starts with understanding: Helensville residential $579,000 to $885,000. Helensville lifestyle $1,200,000 to $1,800,000. Parakai residential $450,000 to $795,000. Woodhill lifestyle $1,501,000 to $1,680,000. Waimauku lifestyle $865,000 to $2,400,000. Muriwai residential $800,000. Huapai – Kumeu residential $828,000 to $1,046,000. Kumeu lifestyle $1,550,000 to $2,598,000. Riverhead residential $790,000 to $1,090,000. Taupaki lifestyle $2,500,000. Waitakere residential $745,000 to $1,270,000. Waitakere lifestyle $1,450,000 to $1,635,000. Before you start your journey I would like to meet with you to discuss your many options, the strength within this market, options that you may not have considered and in turn the time frames that you should consider. While I appreciate you have many agents and realtor partners to choose from, I believe that I offer a very honest and transparent approach that will deliver peace of mind and drive confidence. See more...
