Last month I was fortunate enough to travel to Australia to attend a tri-annual Ray White conference with over three thousand attendees. It was my first overseas trip in a few years, and it gave me some insight into the mindset of New Zealanders and the opportunity that is available to us. While this month’s barometer might not be real estate focused, hopefully it encourages you to look differently, maybe even a bit more positively, at what we have.
They Don’t Really Care That Much About Us
We have a complex when it comes to Australia. We are constantly comparing ourselves to our friends across the ditch. The truth is they don’t really care that much about us. How can I tell? Next to no news about New Zealand is aired on their TV. Instead, they are preoccupied with Asia, Europe and America. This correlates to their surprising lack of general knowledge about our geography, country and culture. I was somewhat gobsmacked just how many people I talked to who have never even been here. Even for work! I was told on more than one occasion “I must go there one day”.
Growing up in a semi-rural community we only had a couple of options when it came to sport. Cricket and tennis in summer and rugby in winter. What fuelled our ambition was the ability to watch our heroes ply their trade on free to air TV. Our horizons were further expanded every couple of years with access to the Commonwealth and Olympic games. New heroes were developed, and new sports taken up. All this free to air patriotism was removed when Sky TV came on the scene. The financial commitment required to support our national teams has meant that new generations don’t have the same luxury, and YouTube heroes have filled that gap. Take Australia on the other hand. While there we were bombarded with non-stop, free to air coverage of the Commonwealth games. And it was fantastic. The full focus of the nation was on competing athletes who were in turn rewarded for their efforts, personal bests and final placements.
So, I ponder, our tall poppy syndrome. While it isn’t the kiwi way, our Australian friends are very happy to tell you just how well they are doing. In New Zealand you are best to keep a low profile for risk of being chopped down as fast as you rose to prominence. Being humble is a lovely attribute, but on the other hand why do we so despise people who are proud of their achievements?
Those who are dedicated and skilled enough to attain greatness, deserve to be celebrated without retribution. Perhaps, just perhaps, Kiwi’s could take a leaf out of the Aussie’s book. Let’s shout it to the world how truly great we are! And on that note I will proudly tell you we have just been awarded number one agent in Wellington and number six in the country of over 2500 agents. We are also proud to pick up number one nationwide award for digital marketing effectiveness.We couldn’t do it without our great team. And now onto the real estate talk.
Just Get On With It
Weather talk dominates many conversations. It’s an easy gap filler especially when a one in 100 year storm is now a regular occurrence. The thing is, the weather is just the weather. It doesn’t care so why should we? If you can’t control it, stop talking about it. The same can be said for the real estate market. Yes, there was some ridiculous growth during covid times. Every vendor and buyer is aware of it. They also know it is gone now. So, in conclusion, if you are looking to buy or sell property make your decision based on what is, not what once was. As the famous Chinese proverb says: “talk doesn’t cook the rice”.
The Wellington Market
Sales are back. Yeeha! Over the past month we have seen a distinct uplift in activity with increased numbers at open homes and multiple offers on many, but not all, properties. As far as we can see the market appears to have balanced itself out with no one side controlling the narrative. Yes, we have seen some significant price adjustments in some sectors, driven by the target market for the property and the ability of that market to secure finance. The first home market has returned to levels last seen around 2019. This is likely because of similar mortgage rates and the fact that Kiwisaver balances have been hit. Higher priced properties have been slightly more stable with those buyers not relying entirely on savings for their deposits. In a market such as this, location will once again be the key factor in pricing considerations.
Wellington Market Quick Stats
What’s On This September In Wellington?
Wellington Home And Garden Show, 16th – 18th Sept, Sky Stadium
Be thrilled by the variety, amazed by the innovations and impressed by the expert advice. Save with massive show-only specials, preview the latest trends, enter the draw to win a fabulous show prize, source accessories for a new look, listen to free daily Q&A sessions from industry professionals, or simply turn up and prepare to be inspired. Better still, it’s all in the one place!
Bret Mckenzie – Songs Without Jokes Tour, 8th Sept, The Opera House
Off the back of this album, Bret, his piano, his microphone, and his nine-piece band will be playing the length of Aotearoa in some of our most iconic and esteemed venues. In September they will take to the Opera House stage for what promises to be a night that warms the cockles of your heart.
Robin White: Something Is Happening Here, 1st -18th Sep, Te Papa Museum
In the span of Dame Robin White’s career of over 50 years, the artist has produced an incredible range of artwork. In Te Papa’s winter exhibition, Robin White: Te Whanaketanga | Something is happening here, more than 50 iconic pieces of White’s work will be on display.