Comments on: Auckland property prices – falling or rising??

By: Alistair Helm

Alistair Helm — Tue, 09 Dec 2008 17:49:54 +0000

Simon That is correct, but looking at the latest data for the month of November shows that the average has now fallen back below $500,000. The post titled Barfoot & Thompson sales continue to record a subdued property market provides the details in updated graphs

By: SimonPoelman

SimonPoelman — Tue, 09 Dec 2008 09:56:36 +0000

Does the 2nd graph show that in 2 years AK average prices have increased from $490,000 to $550,000?

By: steve

steve — Sat, 16 Aug 2008 06:03:56 +0000

I think bob is right,
we are cashed up and looking to buy but everything we look at is going for well above qv’s and some for as much as when the market was at it’s so called high.
we’ve given up looking for that so called bargin and are now just hoping we can afford what we want.

By: Alistair Helm

Alistair Helm — Wed, 13 Aug 2008 03:17:37 +0000

John,

I am interested by your comments – I sense a tone of sarcasm and skepticism. Firstly I think you should note that this comment by you has been approved rather than deleted – I believe that a broad mix of opinions is great.

Looking to your specific comments, I would like to point out as I have made great pains over many time – this blog is written by me in my role as CEO of the website realestate.co.nz. The website is not the Institute (REINZ) and acts as an independent commercial business.

I dedicate time to this blog (I can assure you I do not have time on my hands – ask my wife) because it is a very powerful marketing tool – it as the latest post attests is a powerful traffic builder and that is what is what websites are all about, secondly it is an open, transparent and highly effective tool for me to engage with my audience – consumers as buyers and sellers and my customers the real estate agents. To be better informed and aware of the market I believe makes this website more effective for all.

I am not above taking criticism and welcome feedback – your comments??

By: John Barrent

John Barrent — Wed, 13 Aug 2008 02:50:14 +0000

I am so glad I found this “Blog”. It seems to me it is a back slapping, morale inducing, reality departure for the real estate institiute and it’s members. Keep up the good work, you obviously have a lot of time on your hands.

By: bob

bob — Sun, 10 Aug 2008 08:49:19 +0000

The market is ready to bounce back! Its looking all good from here on in. Sales should increase and prices start to steady and some increase. Lets look forward to a positive property market!!!

By: Alistair Helm

Alistair Helm — Sat, 09 Aug 2008 19:40:42 +0000

Steve,

I believe there is some reason for a degree of optimism (or at least a degree less pessimism as compared to 4 or 5 months ago) although I think the first signs we can expect to see will not be rising prices, I would suspect we are at least 18 months from seeing that. What we might see is a more active market in sales. There is still a very high level of inventory – well in excess of a year’s worth of sales at the current rate of sales. Mortgage rates are dropping, but this will merely remove financial stain, credit is still (and will remain) hard to get so the most likely buyers will be cashed up investors and individuals who will still be looking to buy below the market because they can.

By: steve t

steve t — Sat, 09 Aug 2008 15:15:27 +0000

With the lack of houses on the market and plenty of cash buyers waiting there will soon be a bidders war on whats left. This should drive the prices up quickly since there will be fewer sales but all with high sales prices? Especially when the elections are over and petrol prices steadying and mortgage rates dropping.

By: Ross Brader

Ross Brader — Fri, 08 Aug 2008 06:28:30 +0000

Could this item assist with future predictions?

By: Steve Koerber

Steve Koerber — Thu, 07 Aug 2008 09:26:22 +0000

Regarding prices falling, I understand a Meadowbank house that a colleague and I auctioned yesterday in Meadowbank was on TV3 Campbell Live last night. Apparently the commentary said that the house would have sold around $900,000 last year and couldn’t get $700,000 yesterday. Bidding stopped at $681,000 and current negotiations are into the $700,000s. Last year the owners paid $775,000 so I don’t know where they got $900,000 from. Don’t let the truth get in the way of sensationalism though eh! And by the way $775,000 minus 9% would be $705,250. This vendor will do better than the average punter when this deal is closed soon.