Japs nicking logs
Growing up in Masterton, one of the most significant events in my memory was the sale of Namu Forest to a Japanese company known as JNL. Following the sale, the company built a wood processing factory at the entrance to Masterton. Although employing a large number of locals and providing great economic benefit to the area, it wasn’t long before someone jumped the fence and spray painted “Japs Nicking Logs” under the JNL logo, highlighting the fears of foreign investment. Twenty years on and it appears little has changed with the ‘hot topic’ at the moment being the pitfalls of foreign investment in residential property. It is no wonder that purchasing property in New Zealand is appealing, we have a democratic system and protective laws in regards to property rights. Now I’m no anthropologist, but based on my dealings with foreign buyers, especially those of Asian descent, large sacrifices are often made in order to allow for the purchase of property here. With many local buyers feeling locked out of the market, it may be time to take a lesson from our ‘newest’ New Zealanders and realise that nothing worth having comes easily. Making a few sacrifices of our own, just as our parents had to do in order to secure a slice of the pie, will make the journey to your dream property all the more satisfying.
The Wellington Market
Last month saw a small lift in the number of property sales, an annual trend as late summer stock changes hands before the winter. With an election in September we might see a pause in the market but once the majority realise that nothing much has changed, it will more than likely be business as usual.
Average days to sell 30
Average Sale price $546,800
Percentage increase on April 2013 6%