Figures
released today by the Real Estate Institute of New Zealand (REINZ)
revealed the median residential house price rose in 11 out of 12
districts last month (December 2009) compared to the same period the
previous year.
The
national median of $360,000 was up 9.6 percent on the corresponding
figure of $328,500 recorded for December 2008. It was also up $5,000
on the median price for November 2009.
The
largest gains were Nelson/Marlborough, up 14.5 percent to $343,500,
followed by Southland up 10.8 percent to $184,000 and Hawke’s Bay, also
up 9.4 percent to $290,000. Northland was the only district to
experience a drop in median prices, down just over 2 percent to $306,000
Real
Estate Institute of New Zealand President Peter McDonald says it’s an
appreciating market fuelled by a shortage of properties for sale but is
looking optimistic for 2010.
“House
prices have definitely stabilised and appear to be slightly gaining,
which is a positive sign. The median house price for December 2009 was
up 1.4 per cent on the previous month so, while the median price for
December 2009 was a record high for that time of the year, it’s a case
of steady as it goes,” he says.
“It
is concerning there was less than 5,000 residential properties sold in
December but the sale time of 33 days is one of the shortest for the
year, which goes to show those properties sold were well sought after,”
Mr McDonald says.
The
total value of house sales in New Zealand in December was $2.15
billion, which came from the sale of 4,957 houses. There were also 655
more houses sold around the country than in December 2008 but still
down 640 on December 2007. The breakdown of the values of the
properties was 165 for $1 million plus, 617 for $600,000 - $999,999 and
1,289 for $400,000 - $599,999 and 2,886 under $400,000.
Auckland
sales accounted for $918 million of total sales in December.
Canterbury/Westland and Waikato/Bay of Plenty were the next greatest
value at $283m and $272m respectively with Wellington not far behind at
$253m.
The
national median for days to sell in December was 33, 12 fewer days than
the corresponding period a year ago. Sales were quickest in Wellington
at 28 median days and in Canterbury/Westland and Otago, where the
median days to sell was just 29.
Your property must be listed exclusively with a Professionals office for a minimum of 60 days to qualify for entry.
In conjunction with Professionals Winter & Spring promotion "Win a Car", our Wanaka office is giving away a 4-burner gas barbecue.
Anyone listing their New Zealand property exclusively with Professionals Wanaka Wide Realty Ltd as part of the Win a Car promotion will also go in the draw to win this barbecue, perfect for summer entertaining.
List & Sell your property exclusively with Professionals (Double Real Estate Ltd or Winkel Real Estate Ltd) and be in the draw to win a $5000 cash prize. One prize to be won each month until the end of September 2009.
All exclusive properties sold unconditionally by Double Real Estate Ltd MREINZ and Winkel Real Estate Ltd MREINZ, between 1st June 2009 and 30th September 2009 go into the draw to win.
Offices in Tawa, Porirua, Paremata, Whitby, Paraparaumu, Waikanae, Otaki and Levin.
Register of former Architects
The New Zealand Registered Architects Board announced that a new online service means people selling second hand houses can check if a house was designed by an architect. NZRAB Chairman Ron Pynenburg commented that people have claimed "sellers can't work out if the designers' names on the plans or in the council records of older houses were or were not architects."
The NZRAB website now has a "Find a former architect" facility which lists the names of former architects back to 1964 when registration first became compulsory. This is in addition to the long-standing online New Zealand Architects Register which lists all current architects. Both can be viewed at
www.nzrab.org.nz.
"Real estate agents, writers of advertising copy, newspapers and potential buyers can now instantly check if a person whose name is on a building's plans or in the council records was or is an architect." said Mr Pynenburg.
Government announces grants toward home insulation
The budget announcement on Thursday sees many home owners being eligible for grants of up to $1800 toward insulating older homes.
Grants are available through the Energy Efficiency and Conservation Authority (EECA) from July 1st, for up to a third of the cost of insulation or low pollution heating for homes built before 2000. These grants are made up of up to $1200 for ceiling and floor insulation and up to $500 for heating.
The cost of installing floor and ceiling insulation and clean-burning heating is estimated by EECA to be between $6300 and $8500 per house.
Community services card holders are eligible for a grant of 60 per cent of the cost of insulation plus $1200 towards clean-burning heating. Landlords of tenants with community services cards can also get a grant of 60 per cent toward insulation plus $500 for clean heating.
Chairperson of the new Real Estate Authority is announced
26th May 2009
Source: Hon Simon Power, Minister of Justice
Kristy McDonald QC has been appointed chairperson of the Real Estate Agents Authority, Justice Minister Simon Power announced today.
"I believe Ms McDonald’s legal acumen and her governance experience are ideal preparation for the demanding challenge of leading this newly created Crown entity," Mr Power said.
Ms McDonald has extensive experience as a litigation lawyer and has practised as a barrister sole since 1989. She was appointed Queen's Counsel in 1999 and has served as the chairperson of the Mental Health Review Tribunal and as a member of the Removal Review Authority. In 2008 she was appointed chairperson of the Judicial Control Authority for Racing.
The Real Estate Agents Act 2008, which was passed in September last year, significantly reforms the regulation of the real estate industry and provides a strong focus on consumer protection.
The Real Estate Agents Authority will replace the Real Estate Institute of New Zealand as the oversight body for the industry. The authority will consist of up to seven members, at least two of whom are required to be licensees or former licensees.
The Real Estate Agents Act comes fully into effect from 17 November 2009.
Media contact:
Brent Webling ph 04 8179819 or 027 6746419
Residential Market Shows Signs of Stabilising
12 May 2009
There has been a degree of confidence returned to the residential real estate market as indicated by April sales figures released today by the Real Estate Institute of New Zealand (REINZ).
Institute president, Mike Elford, said the figures reinforce a certain level of stability in relation to price and turnover, and are pleasing particularly as April is traditionally a slower month due to school holidays and seasonal adjustments.
Turnover of housing continues to strengthen from last year’s figures although slightly down in April 2009 compared with March totals.
“The figures are not hugely significant, but enough to generate a degree of optimism about the way forward from here,” Mr Elford says.
The total number of homes sold nationwide in April (6,210) is down on the March 2009 figure of 6,694 but still well up on the February total: 5,228. This compares with 4,450 in April 2008 which is a pleasing trend, Mr Elford said.
Turnover continues to be strong in Auckland where 2,081 properties changed hands in April compared with 1,350 in April 2008. Manawatu/Wanganui and Taranaki both saw a rise in the number of sales from March 2009 to April 2009: 283 to 322 and 166 to 188 respectively.
The median price for homes across New Zealand for April 2009 continues the slow steady growth recorded over the past few months. February’s $330,000 median figure rose to $335,000 in March and again to $340,000 in April. This compares with the April figure from 2008 of $345,000, which is a percentage drop nationally of 1.44 per cent.
The length of time it took to sell a house in April (a median of 42 days nationally) is slightly faster than March at 44 days and 44 days in April 2008. House sales continue to be strongest in the under $400,000 price bracket, accounting for nearly 4000 of the total April sales on 6,210.
Source: REINZ
Property Sales Stabilise
11 May 2009
April figures from Quotable Value may indicate a stabilising of the residential property market, reflecting trends reported earlier by the Real Estate Institute of New Zealand.
“There are clearly different dynamics across the property market, and people are carefully considering their options. Lower interest rates and cheaper properties are leading first home buyers and investors back into the market. Homeowners are also weighing up their situation, with some choosing to stay put and renovate, while others see great opportunities to upgrade, as the upper end of the market becomes more affordable. As a result of this increased activity we are starting to see a shortage of listings, particularly at the lower value end of the market,” said Mr Hancock, QV Valuations spokesperson.
Source: Quotable Value Ltd
House market shows signs of recovery
3rd May 2009
A cautious murmur of optimism can be heard from some economists, property companies and estate agents: they are hoping that a slight upturn in house sales may herald the start of the recovery.
Two new reports, one from the Real Estate Institute and one from Crockers Property Group, offer the first signs that house prices may be rising.
The NZ Property Report, published by the Real Estate Institute and a group of big estate agencies, shows a sharp decrease in the number of properties listed for sale around New Zealand, an indication that the buyers' market of the past year may be turning to favour sellers.
And the Crockers report shows stronger sales in March, especially in Auckland, aided by population growth and expats coming home.
The reports come after Tony Alexander, the BNZ's chief economist, told buyers they shouldn't risk holding off in the expectation of lower prices.
The trends are far from certain, and most experts agree it's too early to confirm an upturn.
Source: NZ Herald
Free Investpak Seminar - North Shore, Auckland
Paul Lochore, Managing Director of Lochore's Real Estate in Birkenhead with over 42 years experience in real estate, is actual proof it is not only possible but achievable for most New Zealanders to retire wealthy.
Come and share Paul's story and discover how you can achieve financial success through residential property investment.
Lochore's Real Estate are proud to have assisted many hundreds of clients to become independent and wealthy through property investment. This is a personal invitation to attend our Free Investpak Seminar.
Next seminar for 2009 will be held on Wednesday 27th May
Call 09 481 0639 to register.
Devastation in Australia and Fiji
We often complain about our weather being too hot, too dry, etc but nothing comes close to what is happening right on our doorsteps. For Fiji & Victoria, conditions have been harrowing, resulting in devastation for two of our closest neighbours and our own Professionals offices & their clients.
Australia
Professionals Group Ltd have made a sizeable donation to the Fire Fund, to help support those who are suffering the horrendous fires that are raging across Victoria. We know that this will go towards helping those families get back to rebuilding their lives and along with the Australian public and Government this should ease some of their burdens. The challenge is also out amongst the Oz states for goods and cash which are flowing in.
Fiji
On the other side of the Pacific, Carol West (Professionals West Realty, Fiji) has set her heart and mind in trying to help with the devastation in Fiji, cleaning up and seeking to restore some supplies to the schools and local families. A number of members have already assisted and Colin Lock from Kennards Real Estate in Christchurch has been instrumental in arranging two full size containers to be sent off to help the friendly folk in Fiji.
Professionals, Hutt City have made a donation to help with the restoration of children’s books and things at a school close to the Professionals office in Nadi. This office will oversee the spending. For anyone else who wants to help, please contact any Professionals office.
Although they have not been featuring in the news lately, the need to help them rebuild, restore and offer some hope remains critical. The damage caused by the floods is beyond comprehension and some families and businesses will struggle to recover from the loss of all but the clothing they stand up in.
Professionals Waikanae supports local community
The Waikanae Lions Super Garden Trail 2009 was again supported by the Professionals, Winkel Real Estate. This year the number of visitors was down despite best efforts in supporting the signage. All proceeds from this event went to two beneficiaries, Wellington Free Ambulance and Mary Potter Hospice who will receive at least $12,000 each.
The 56th annual Waikanae Show and Sports day took place on Sunday 18th January. Winkel Real Estate was there to show its support in the community with the loan of a tent to Zippy Zoo. A great day, despite the morning rain, was had by all.
March Sales figures from the Real Estate Institute
March sales figures released today by the Real Estate Institute of New Zealand (REINZ) reveal a spike in terms of sales volume. However, Institute president Mike Elford said while the figures in terms of sales volumes, prices and days to sell are cause for “cautious optimism” it is too early to predict recovery.
“We need to read the figures in the context of December, January and February figures being light months in terms of volume. And while there is certainly a significant return to healthier numbers, we also need to be mindful we are now coming into a period of seasonal drop off in sales.”
Nevertheless, Mr Elford said, the total number of homes sold nationwide in March – 6,694, up from 5,228 in February and from 5,129 in March 2008 – is consistent with the information he’s been receiving from the industry around the country.
“I’m hearing that March was the best month for some time with properties available for sale and genuine buyers and sellers ready to meet market prices.”
The median price for homes across New Zealand at $335,000 for March 2009 is slightly up on February’s $330,000 and on a par with the March figure from 2007 of $343,500 but down on the comparable period in March 2008, $349,000, equivalent to 4.01 per cent.
Professionals salesperson in Top Town final
Dean Cole from Professionals Earlaustin.co.nz helped the Whakatane team fight it out against Taupo in the final of New Zealand's Top Town 2009 competition. This is the first time the Top Town competition has been held since 1976.
Whakatane and
Taupo battled 13 other teams to make it into the final and, although Whakatane fought hard, they were narrowly beaten by Taupo who become New Zealand's Top Town. Congratulations to the Taupo team.
Whakatane, it was a well fought battle and great to see you in the final.
Whakatane is one of the sunniest towns in New Zealand, currently fighting it out for the title of "sunniest town" with Blenheim.
Thanks for supporting the Child Cancer Appeal
Thanks to all those who have donated money to help support children with cancer.
You can still donate directly by:
- visit www.childcancer.org.nz
- call 0900 child (0900 42 445) to make a $20 donation that's automatically charged to your phone account. Please check with the account holder first.
- txt the word 'BEAD' to 206 to automatically donate $3 from your mobile phone account or prepaid card.
Southland realtors leading the way
MacPherson Realty Ltd is the overall winner of the Professionals Group 2008 Top New Zealand Office ahead of more than 70 other offices.
The Invercargill office won runner-up and first place positions in several categories, providing them with the highest point score and therefore the ultimate accolade.
Professionals MacPherson Realty Ltd general manager Jon Irving said the award is a credit to the staff.
"We're so pleased for our staff because this is a positive affirmation for their hard work and energy they have been putting in," Mr Irving said. "It really has been team work that has helped to win these awards."
Professionals MacPherson Realty Ltd director Brian MacPherson said the sales team worked particularly hard to win this award by working an extra three to four nights per week and weekends.
"As the saying goes, 'when the going gets tough the tough get going'," Mr MacPherson said.
Excerpt from Southland Express article
Cancel appeal week is all about the kids
24th March 2008
Four brave children with one very important thing in common met at a Child Cancer event.
Zavier Coulam, 5, Bianca White, 5, Tui McLeod, 6, and Erfan Bour, 7, all have the illness and came together to sign a car which will be raffled off for the charity. The children donned their colourful beads of courage – one for each procedure they’ve undergone.
Tui, from Birkenhead, was diagnosed with a brain tumour in June 2007 after being paralysed down one side. She has finished her treatment and doctors are hoping the tumour stays dormant. Tui has 191 beads.
Erfan, from Glenfield, and Zavier, from Dairy Flat, have leukaemia. Erfan has more than 1100 beads and Zavier has 240 for treatments such as lumbar punctures and chemotherapy.
Bianca, from Albany, was also diagnosed with leukaemia – two weeks before her fourth birthday in 2007.
Her mum, Lea, was tying up her daughter’s hair before her ballet lesson when she noticed a swollen gland on her neck. Blood tests revealed an abnormally high white cell count and Bianca was given an immediate transfusion. In the first four months Bianca spent 65 days in hospital, 34 of those in isolation. She has 960 beads.
More than 150 children are diagnosed with cancer each year. The Child Cancer Foundation provides support to children with cancer, their families and the health professionals who treat them.
Buy a copy of the latest Entertainment Book and support the Child Cancer Foundation!
March 2009
The popular Entertainment Book contains hundreds of 25-50% off and 'two-for-one' offers from popular restaurants, cinemas, hotel accommodation, the arts, and sporting events.
The Auckland books cost $65 and of this $13 goes to the Foundation to provide vital services and support children with cancer and their families. Editions for Waikato and Bay of Plenty $50, Wellington $55, and Christchurch $65 are also available to pre-order.
In Auckland, there are high value offers from Vinnies, Kermadec, Sale Street, Bracu, White, Pearl Garden, Bees on Line, Tapiano, Nosh, The Royal New Zealand Ballet, Auckland Zoo, Rainbow's End, Butterfly Creek, Spookers, Snow Planet and many more restaurants and outlets.
The new 2009 Book also sees the inclusion of an exciting new 'Retail' section with offers for Jewellery, Beauty Therapists, purchasing Wine from cellar doors, hiring trailers and even a mobile mechanic.
Pre-order your new 2009/2010 Entertainment™ Book before 20 March and receive a special bonus sheet of vouchers to 6 businesses new to the entertainment book (while stocks last).
Sliding home values boost property returns
03/01/2009
Property investors this year can expect a return to the days of positive cash returns for the first time in more than five years, say market watchers.
It's one of three market certainties investors can bank on as interest rates fall and house prices are tipped to slide another 5 to 8 per cent. The second certainty is don't bank on values rising - for at least another 12 months, probably longer. And the third is that house sales will pick up - not to the cracking pace of 2006 or early 2007 - but to surpass last year's dismal tally of fewer than 60,000 sales.
The chief executive of realestate.co.nz, Alistair Helm, said sales last year were 50 per cent down on 2007 and the lowest in 20 years. He predicts an increase in listings simply because life must go on.
Home owners who have been sitting tight, unwilling to take pain in the pocket for more than a year, will decide they must push on after a big think over the Christmas holiday. They will accept the need to take a drop in price, so they can shift city or country for jobs or lifestyle, or try for that bigger - or smaller - house in that nice suburb that's on the market for a good price.
And among this year's fresh crop of sellers will be the new breed of "reluctant landlords", says Kent Leicester, director of property investor trading website Property Billboard and investment strategy company Polaris Group.
These are home owners renting out their properties through necessity because they can't sell for an acceptable price since the market downturn.
"A lot of people who held out last year - by February, March or April they'll have had enough of being a landlord and decide to sell.
"And there's a whole run of mortgagee sales to come."
There will be "exceptional buying" for investors who've been sitting on equity, says Leicester.
