Market appraisal

Problems with Portals

If it doesn’t cost you anything it normally means somehow you are what’s for sale. It could be your personal details, your buying preferences, or, in the property market it is likely to be your ‘free’ online market assessment. In New Zealand there are several portals which now offer those, including: Homes, Property Insights (Trade Me) and One Roof. Traffic to these sites is significant, and large...

Are Lawyers Important?

It’s not uncommon for agents and conveyancing lawyers to come head-to-head as they navigate their way towards a successful sale. But while the relationship can be strained at times, both parties play an important role in any property transaction. This month we take a look at what exactly that role is and why not all lawyers are created equally. Unlike the ability to sell your home privately, you will...

History Never Repeats

After a long period of ‘normality’, community transmission is back and we find ourselves in a Level 4 lockdown. A place, quite arrogantly, I don’t think any of us thought we would ever be again. Unlike last year, there doesn’t appear to be the same level of fear. We have been here before. We understand the virus better. We have a vaccine. And working from home is a firmly established business...

The Silent Killer in Real Estate

Unless you have been on a complete spending freeze it would be hard not to have noticed the rapidly escalating costs of goods and services. Nowhere is this more evident than in the building industry which has been hit hard by supply issues. For years New Zealand has had relatively low inflation which is an indication of slow growth. One way to stimulate growth is to lower interest rates because it...

The Death of the CBD

The central business district has historically been considered the heart of any city, but recent events have changed the way people use the CBD. So, how does the changing face of business influence our cities and the way we live? We are making steps all over the world towards vaccinating the masses in the hope of returning to some sense of normality. At some stage down the track we will look back on...

Under Pressure

Price pressure It’s often been said that you can tell if a city is humming based on the number of cranes on a skyline. And I’ll tell you what, I’ve noted a fair few around here recently. So, is Wellington really humming? Cranes, and their association with a thriving economy, are generally an indication of new commercial construction. But in Wellington’s case, the bulk of the inner-city...

Why more time is better

One indicator that a market is running hot is a dramatic fall in ‘days on market’. Just last week a TVNZ story noted that days on market were in decline across the country with Wellington the lowest of them all. So we pose the question, do low days on market equate to higher prices? Sold in 24hrs Every time I hear someone crowing about how quicky they sold their property, my eyes roll a...

Too Definitive

It’s been a hot topic for as long as I have been in the industry but I still think the public at large can be forgiven for feeling somewhat blindsided by the announcements of last month. A Government that was voted in on a minor increase to the top tax rate and a promise of ‘that’s it’ for this term, but that wasn’t it. The five-year extension to the bright line test and removal of the interest...

Raw Sewage

Wellington wastewater issues continue to plague the city as our aging infrastructure haunts us. Last month trucks blocked main CBD routes as they were put to work removing wastewater to prevent another environmental issue in the harbour. No sooner had the trucks taken the sewage and buried it at the rubbish dump, did the pipes burst in Aro Valley. No wonder rates are on the (significant) rise! So what...

Sugar Rush & Real Estate

Most New Zealanders are back into the swing of things with the summer tan fading away under the office desk.  Over summer we noticed a large number of real estate related articles on sites like Stuff and The New Zealand Herald. And we’re still seeing them now. The vast majority of these articles are positive for property owners but less so if you’re looking to buy. So, what does 2021 have in store for...

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