Australian Reserve Bank considered asking for real estate transaction ‘pause.’

New Zealand GDP is our country’s total income: if we add everyone’s income, from household wages to business profits and government surpluses we get GDP. GDP can also be measured as the value of all the goods and services produced in the economy. In New Zealand this is the preferred the measure of economic activity.

To measure the value of goods and services is to calculate the total expenditure on consumption, investment and exports, less the spending on imports. This is probably the most intuitive way to think about the economy: our production is determined by how much people are willing to spend.

As per below it is interesting Australian Reserve Bank economists consider public sentiment around real estate and property ownership as an indicator not to be ignored as a potential flashpoint for dragging down their economy.

Source: ABC News-By business reporter Daniel Ziffer.

“Reserve Bank economists considered urging the Federal Government to shut down the real estate industry, “pausing” sales of established homes to avoid perceptions of a coronavirus-inspired housing market crash.”

Read ABC News story here: https://ab.co/3fQRi2B

Southland also holds the second highest rental yield in the country.

Source: Stuff online:

“Southland is still the best performing region for residential property investors, according to a Real Estate Institute of New Zealand report.

The Capital Gains and Rental Yield Report says capital gains in Southland has increased by 22 per cent for the three months ending March when compared to the same time last year – the second highest capital gains in the country. Southland also holds the second highest yield in the country, which increased 4.8 per cent year-on-year”

Read full article on Stuff here: https://bit.ly/3fqu0Aa

Steve’s commentary—–A quick bit of desktop research on Trademe shows there are currently 62 rentals available to let across Invercargill City with 33% of this total listed to let 10-17 June. It will be interesting to track tenancy uptake on this broad range of inventory. Conversely listed FOR SALE  on the same property portal there are 331 residential dwellings in the city available to purchase representing an excellent cross-section of price points and geo-locations affording choice for investors.

Steve- Get a Hair Cut and Get a Real Job!

Right now, there are a lot of really talented people, who like me mutually decided to leave their employment with Covid-19 having changed their employer’s situation or direction.

Needing a plan beyond looking at the upcoming releases on Netflix was a no brainer. First task; post this video to register Steve Lindsay as a strong blip on recruiters’ radar.

Steve’s video click here: https://youtu.be/PDSqdN-dbck

Inspiration for this post came from the song by George Thorogood and the Destroyers- Get  a Hair Cut released as a single from their 1992 album-Haircut.

 

 

 

December 2019 Real Estate Sales Snapshot

REINZ Dec data: Property market finishes 2019 with highest sales volume for December in 3 years New Zealand rounded off the decade. For New Zealand excluding Auckland, the number of properties sold increased by 5.8% when compared to the same time last year (to 4,425 up from 4,184) – the highest for the month of December in 3 years.

Bindi Norwell-REINZ CEO: “Looking around the country, 12 out of 16 regions saw annual increases in the number of properties sold – the highest number of annual increases in 3 months – with particularly strong increases in Auckland, the Bay of Plenty, Southland, Northland and Canterbury,” continues Norwell.

Record median prices were recorded in December• Southland with a 32.0% increase to $330,000 up from $250,000 at the same time last year. The median sell price for Invercargill City was $336,000 for the month of December.

Days to Sell decreases both year on year and month on month In December the median number of days to sell a property nationally decreased by 4 days from 35 to 31 when compared to December 2018 – the lowest days to sell in 3 years. Southland again had the lowest days to sell of all the regions at 21 days, down 2 days from the same time last year, but 3 days higher than November 2019’s figure which was the lowest median days to sell since August 2007.


FOR SALE 173 Queens Drive, Invercargill