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Mirror, mirror on the wall, who’s the fairest of them all?

Mirror, mirror on the wall, who’s the fairest of them all?

Apart from shaving and checking that my tie is straight, I hardly look in the mirror.  It’s only when I see myself in a photo that I can’t help thinking “do I really look like that”? We can be a bit the same about our houses. On the whole we have a very emotional attachment to our homes, which is of course understandable, but it causes us to overlook aspects of our home that buyers may consider important. Things like a dated bathroom suite, a poorly laid out kitchen or an unusable outdoor area in a family home may be things we are happy to tolerate but they can make the difference between a good and a great result.

On the other side of the fence is the buyer. This person places value in the tangible aspects of a property, as initially, at least, they will not have any emotional attachment. So when a buyer first visits a property they will have first viewed it somewhere and short listed it as a home which may meet the needs on their wish list. The inspection is generally to confirm the overall presentation and condition of the house and make sure the ‘must haves’ are in fact as first thought e.g. ‘are the bedrooms a decent size?’ or ‘can the fourth bedroom be used as a second living?’.  Secondly they investigate what ‘nice to haves’ are included. These are things like quality heat sources or an automatic garage door.  I am yet to see a list which includes ‘vendor emotional attachment’ in either category.

A great way to get an objective opinion on your home and practical suggestions on where best to invest your preparation dollar is to engage a real estate agent prior to doing any work. A good local specialist will have marketed and visited many homes in the area and be aware of what your target market places importance in. At any given time your home is not in isolation but in competition with other similar homes being marketed. Ensuring you take the time to optimise your ‘must haves’ and add a few ‘nice to haves’ will ensure your house is the fairest of them all. Not all money invested will be recouped in the sale price so professional advice on the best places to focus your spend can be invaluable. Best of all it’s FREE.

Wellington Market

Just like the international milk prices, listings in Wellington remain at very low levels. At the time of writing this if you remove apartments and Tawa listings from the equation, there are less than 250 properties advertised for sale. The general feel is that it will be mid to late spring before we see a significant lift in stock. This will provide a bit more choice to a very eager buyer pool but with interest rates picked to fall again, upward pressure on prices is likely to continue. This will be most noticeable at the entry level of the market.

Looking upstream there are a few concerns starting to bubble to the surface. The impact of the dairy sector and fall in Chinese stocks is all an unknown at this stage and is such a hot topic of speculation. Only time will tell.

Property quick facts

July 2014July 2015
Central$410,000$410,000
Southern$497,500$495,000
Eastern$560,000$516,000
Northern$427,000$488,500
Western$550,000$580,000

Average number of days on the market: 42

Daffodil facts

With spring finally in the air we thought we would share some fun facts about our favorite spring bloom.

  • The Daffodil is the 10th wedding anniversary flower.
  • A gift of daffodils is said to ensure happiness.
  • Always remember to present daffodils in a bunch. The same legends that associate this cheerful flower with good fortune warn us that when given as a single bloom can foretell misfortune.
  • The daffodil is the national flower of Wales.

If you or anyone you know would value from a considered market assessment by Wellington’s only licensed agent and registered property valuer, please do not hesitate to call. We are always very happy to help. Click here to book your appraisal today.

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