Last month we headed to the sunny Gold Coast for AREC, the Southern Hemisphere’s largest real estate conference. I know the thought of three thousand agents in a room would send shivers down the spines of many, but that is neither here nor there. It was an interaction I had with a Canadian couple en route which really got me thinking. They happened to mention how much they love flying Air New...
Sorry, the heading was click bait. But like Uber disrupted the transport industry, the traditional real estate model has endured its fair share of attacks. There’s no denying that real estate is a lucrative industry. And anytime large sums of money are at stake, there will be people looking for a slice of the pie. This month we look at some of the different attempts, both here and across the ditch, to...
It was chance, not aspiration, that saw me major in Valuation and Property Management at University. Faced with the prospect of picking a specialty, a group of friends and I decided that following in the path of ‘Greg’s dad’ the valuer, seemed like a reasonable option. Given the old adage of strength in numbers we enrolled as a collective. Decision made! Now, Greg’s Dad was a man of few words,...
I might be guilty of using too many analogies but they’re a great way to paint a picture. For those of you who follow the market, you’re likely to have noticed a shift as we enter a new phase of the real estate cycle. So here comes the analogy: Just like a yacht race, little strategy is required on the downwind leg, it’s all straight lines and wind at your back. This changes quickly as you round the...
In the world of residential real estate, there are some construction materials that have the buyers running for the hills. Depending on the individual property, they may or may not pose any potential risk. But the fear is real. This month we look at the ‘dirty words’ in world of residential construction. What is Asbestos? Asbestos is a naturally occurring mineral substance with soft, flexible fibres...
The great thing about a good holiday is the ability to escape reality, even for a little while. But having enjoyed our fair share of lazy beach days, we’re back on deck, refreshed and ready to tackle whatever 2019 throws at us. That includes educating ourselves about possible changes which have the ability to impact our market. The tax working group has suggested the time is right for the introduction...
Wellington Property Market - 2018 RVs If you own real estate in Wellington, you will have recently received your new rating valuation (RV). Your reaction, like many others, is likely to be one of slight shock (and possible delight) as your rating value will have risen somewhere in the region of 40-50%. I struggle not to roll my eyes when people explain that their property has gone up in value overnight....
When the music stops it normally signals the end of the party. New Zealand has experienced a fantastic real estate party over the last three years with the Wellington market moving around 40 - 50% during that time. Now that’s a lot of growth in a short period, but if averaged out over the last decade it only works out to be around 5% per annum. Are we seeing the end of the real estate party in...
Real Estate Agent Fees A recent article published on Stuff once again put the spotlight on Real Estate Agent fees. This article, and topic, always generates great debate and outrage as the members of the “I hate real estate agents club” come out in full force. Like all good journalism, the article was full of misinformation and factually incorrect statements. But hey, let’s not let the truth get...