Strong growth in residential rents in th

Strong growth in residential rents in the last 12 month

Rental Bond data analysed by http://ow.ly/ZxKx50uVcLr shows that the average rent from new bonds received from throughout New Zealand in the second quarter of this year was $450 a week, up 7.6% compared to the second quarter of last year.
That means that on average, renters are likely to be paying around $32 more a week in rent than they were 12 months ago. And the rate of increase is also on the rise.
Click the link for the table that shows the average rent NZ wide across all districts in the second quarter of this year, and the annual percentage change for the last two years.
https://bit.ly/2Nyol1O

Ten NZ property market predictions for t

Ten NZ property market predictions for the rest of 2019. Kelvin Davidson from CoreLogic shares his insight.
Here’s prediction number #2. High level market trends:

2. Average property values still rising but in a restrained fashion, with the more affordable towns and cities in ‘regional NZ’ likely to record the largest increases. By contrast, it wouldn’t be a surprise to see further weakness in Auckland – as buyers bide their time.

Read his other 9-predictions here:
http://ow.ly/WV7I50uM2PF

Need to know to move on from your lifestyle block

What you need to know to move on from your lifestyle block.

Living on a lifestyle block is an excellent way of life – for those who have the time to dedicate to the expansive property. Many, however, find that they are a lot of hard work to keep up with, especially approaching retirement.
Learn more about key steps involved in buying a property in New Zealand, here.
http://ow.ly/l2Ex50uFfhT

Kiwi DIY certainly has its place; howeve

Kiwi DIY certainly has its place; however, some property owners are either time starved and or lack the skill and confidence to manage a reno project on their own home.
Earlier today our sales team welcomed Matt Hartigan- Refresh Renovations to introduce their company’s specialist services. It became clear that this company have identified a market niche and place planning, budgeting and project management at the forefront of every client project.
What surprised me most was they will consider project of varying budget and not just high value contracts.
Check them out online:
http://ow.ly/wObF50uB1zy

Earlier in the week I reviewed the numbe

Earlier in the week I reviewed the number of rental properties marketed online for let in Invercargill with that number being circa 61. Our property management team considered this low level of availability remains well below appropriate stock levels to respond to current market demand. The other characteristic is property rents at / +$400 per week are challenge to connect with prospective tenants.
This STUFF news article overnight supports our understanding of the current market.
“The average rental price in Southland has hit a new record of $300 but the reality is people are paying closer to $400 a week.”
Read more: http://ow.ly/NaAo50u5B69

EXECUTIVE SUMMARY: QUEENSTOWN’S REAL ESTATE SALES- Calendar Year to December 2018

Informative updates are fundamental to be first to know when the time is right to make your move whether it be buying or selling. Adhering to REINZ policy I am not at liberty to comment on the market data so I’ll just let my ‘desktop analyses’ of the sales numbers do the talking.

Queenstown Area Sales by Property Type

Report Period: Calendar Year to date- January – December 2018 comparing 2017

□ REINZ reported sales. Private / Developer direct sales not included.

Property Type Jan – Dec 2018 Jan – Dec 2017 Variance +/-
Residential Dwellings (RD) 402 sales  378 sales    +6.35%
RD Median Sell Price $1,172,500 $1,050,000 +11.6%
Apartments (A) 103 sales 80 sales +28.7%
A Median Sell Price $605,000 $629,500   -3.8%
Units (U) 104 sales  76 sales  +36.8%
U Median Sell Price $710,000 $672,000   +5.6%
Townhouses (TH) 44 sales 38 sales +15.7%
TH Median Sell Price $950,000 $877,500   +8.2%
Residential Sections (RS) 167 sales  265 sales  -36.9%
RS Median Sell Price $599,000 $374,000 +60.1%
Rural Dwellings (RD) 19 sales 23 sales -17.3%
RD Median Sell Price $2,185,000 $2,700,000 -19.0%
Rural Blocks (RB) 45 sales  38 sales +18.4%
RB Median Sell Price $1,387,500 $1,350,000   +2.7%
Total Sales Numbers 884 sales  898 sales    -1.56%
Value of Sales $ $1,035,488,624 $973,467,385   +6.3%

January – December 2018 comparing same period Year-to-date 2017:

  • 2018 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $955,000. Sales above $1.0m represented 44.4% of all sales.
  • 2017 YTD median sell price residential dwellings all types (home, unit, apartment, townhouse) $904,500. Sales above $1.0m represented 40.5% of all sales.

 REINZ Reported sales by price of Queenstown Residential Homes

January – December 2018 comparing same period Year-to-date 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
  $351,000 – $450,000    0.2%   1.3%
  $451,000 – $650,000    2.7%   3.4%
  $651,000 – $999,000 34.8 % 42.8%
  $1.0m – $1.999m 47.4% 37.0%
  $2.0m plus 14.9% 15.4%

 REINZ Reported sales by price covering all property types —

(Homes, Units, Apartments and Townhouses).

January- December 2018 comparing same period Year-to-date 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
<$350,000   2.8%   2.4%
  $351,000 – $450,000   2.8%   3.2%
  $451,000 – $650,000 11.3% 10.7%
  $651,000 – $999,000 38.6% 43.1%
  $1.0m –      $1.999m 34.5% 29.9%
  $2.0m plus 10.0% 10.7%

 REINZ Reported sales by price of Residential Sections.

January- December 2018 comparing same period Year-to-date 2017

Price Band % of Total Sales 2018 % of Total Sales 2017
<$199,000   0.6%   5.2%
  $200,000 – $299,000   3.0% 34.0%
  $300,000 – $499,000 32.9% 25.7%
  $500,000 – $749,000 37.1% 14.3%
  $750,000 – $999,000  7.2%   9.8%
  $1.0m – $2.0m 19.2% 11.0%

Data Source: REINZ. Private & Developer direct sales data not included.

Disclaimer:  While every effort has been made to ensure the information contained herewith is true, no responsibility will be taken for errors or omissions. You should seek your own independent advice from your legal, taxation and financial consultant prior to purchase.