In the early 2000’s New Zealand signed a free trade agreement with China, a first for any developed nation. Through this, New Zealand benefited from exposure to over a billion new customers, something that the dairy industry has leveraged very effectively. For the next few decades this relationship served us well and their economy grew nicely, even weathering the Global Financial Crisis of 2008. But...
The family and I were lucky enough to head to Japan for the July school holidays, and if you haven’t already been I would place it high on the list of countries you simply must visit. It is the perfect mix of wonderful people, fantastic sightseeing, sophisticated culture, indescribable food and attractions your children (or inner child) will love you for – Disneyland,...
Most members of the home owning public will be aware that real estate agents offer “free appraisals”. And anyone looking to sell will likely have commissioned a handful of appraisals to compare their potential sales range. But the longer I spend in the industry, the more I ponder what role do appraisals really play in a property sale? In my former career, as a registered valuer, I...
Keen observers of our business may have noticed a significant shift in the approach we have taken to selling real estate in the current market. Auctions. This will come as a big surprise to many as it has long been argued ‘Auctions don’t work in Wellington’. This month’s Barometer will provide you with insight into our decision and shed light on why auctions have become a game-changer. The...
Last month the Prime Minister of Australia, Anthony Albanese, announced an easier path to citizenship for Kiwis. This has been a long awaited and now celebrated change. Prior to the 2000’s Kiwi’s crossed the ditch and settled with relative ease in Australia. That was until, in the Aussies’ eyes, we started to take advantage of that ease. It was the sun drenched country in which we could access...
The four horsemen of the New Zealand apocalypse are the supermarket, petrol, insurance companies and the banks. There is zero public appetite for 'excessive profits' which has resulted in multiple formal and costly investigations being commissioned. But how much is too much and is a bank making a substantial profit really a bad thing? Before we answer this question, we ponder 'how did we end up...
Sorry to start this barometer with negative thoughts, but it really feels like we've been putting out a lot of fires since the 2020’s rolled around. No sooner do we think the coast is clear, then yet another crisis raises its ugly head. And while some of the recent ones have been more localised, we will all end up paying for them in the end. Post the Christchurch quake of 2011, insurance...
While the real estate market takes a topsy-turvy ride in most parts of the country, we ask (and answer) the questions many are asking. In keeping with market cycles, the last 12 months residential real estate has experienced significant downward momentum. We will probably still experience a small amount of pressure but nothing like the decline of 2022. So, while some buyers desert the market, we ask,...
Isaac Newton once famously said ‘what goes up, must come down’. And it would appear, much to our horror, he was right. The New Zealand property market has just undergone the biggest price correction on record, and Wellington has been hit the hardest of them all. So, let’s delve into what we can learn from the rollercoaster market of 2022. Location Matters The old American adage of...
Skill And Experience Matters The public at large are unlikely to give a second thought to the fact that many agents are pondering their future in the industry. Those on the fence may wait and see what the summer market throws up. They may want to see whether the annual lift in sales can provide them with enough oxygen to keep going. Others, perhaps newer to the industry, are likely to exit...