Today I read a very interesting article on stuff.co.nz about an Auction that a good friend of mine Roland Lina conducted last night in New Plymouth. It highlights a good point about what is happening in the market. The article reads as follows.
Three words are dominating Taranaki’s real estate pages “sell, sell, sell”.
As house prices and interest rates continue to plummet desperate vendors trapped in mortgages they can’t afford are looking for creative ways out.
Last night at Harcourts New Plymouth an auction attracting almost 100 people sold an expansive Heta Rd property for almost $120,000 below its government valuation (GV).
Advertised as a pre-mortgagee sale under the title “beat the bank” the six bedroom, 1582sqm, 2 1/2-year-old home had a reserve price of $380,000, was valued at $680,000 and sold for $566,000.
Auctioneer Roland Lina said the days where you could simply “nail a sign to a fence” and a place was sold were over.
“I can assure you if we had advertised it for $600,000 it would still be on the market,” he said. Having worked in real estate for 18 years Mr Lina said clever marketing was needed to get the best price and houses off the books.
Several bidders at the auction said they had come in the hope of getting a bargain but expected the “marketing ploy” would push the price way past the low reserve.
Other advertisements on both Trade Me and in real estate publications are littered with phrases such as “lawyer says sell”, “priced to sell fast”, “bank wants all offers presented NOW” and “Crunch Time!!”
Thought of as existing in a bubble, mortagagee and pre-mortgagee sales are starting to creep on to the region’s real estate market.
Industry insiders report a rise in the number of people forced to default on mortgages they got into when interest rates were as high as 9.5 per cent.
Nationally mortgagee sales listed on websites Trade Me and realestate.co.nz have more than doubled in the past year.
The country’s increasing unemployment has been blamed for the mortgagee sales.
The last comment here is one that doesn’t go down too well with me. Sure enough unemployment is one of the reasons there may be some mortgagee sales but if you get into the nitty gritty of it most of the people that have mortgagee sales at the moment are still on high interest rates. And after talking to a few people in that situation they simply say they canot afford with the incomes they are gettin to pay the mortgage.
Sometimes this figure is up to 80% of the total income goes on the mortgage. And I am sure that there are some people with more. Now think about it, on top of that yo have to eat, pay the rates, the power, the phone, the car bills, insurances and any other costs that you can think of.
What I have found is that some people I have spoken to have been surviving like this purely because of credit facilities that they have been using. For example the weekly wages goes toward the mortgage and then the rest goes on the other bills, but the shortfall is made up of credit – eigther a credit card or a personal loan. Some people have even got to the state of getting personal loans just to pay the credit card off.
Now the simple fact is that you can probably live like this for a very short time until things ironed themselves out a little, but we are in a ressession, if you cant see that or think it wont last i believe you need to have a good look around you. Mortgagee sales will rise because of this fact. As people run out of credit they need to sell or should sell. MOst people will try and hold on to what they have but in a lot of cases the bank steps in and takes over which is what you then call a mortgagee sale.
But as Roland said in the article above there needs to be some smart thinking going on and try and people need to sell before the bank steps in. In that case you as the home owner will have a little more control over what is going to happen to what probably could be your biggest asset. If you are a home owner please do take a close look at your speding and where your money is going. It is much better to try and sell before there is a problem. Becoming a mortgagee is not a nice place to be for anyone.
March 19 2009 | Buyers and Sellers and The Market | 1 Comment »
The
TSB Bank Festival of Lights dates for 2008-09 are 14th December 08 - 8th F
ebruary 2009! This event is one of the more anticipated events of the year by many. It represents the start and continuation of the Christmas season and a truly wonderful event for the entire family to enjoy on a summer night in a beautiful park. I remember when I was 7 or 8 years old going to the lights for the first time with the family. The excitement and thrill of seeing the lights flashing as well as getting out of the house at night brings back some great memories, oh and not to mention I could count the number of sleeps to go until Christmas on my fingers. 
The festival’s origins date back to 1953 when in commemoration of the coronation of Queen Elizabeth II and a fountain with feature en
hancing lights was installed in one of the lakes in Pukekura Park, New Plymouth. The first illuminations were created in the park in 1957, and from there displays grew alongside the Christmas Lights throughout the city streets.
The festival of lights itself started in 1993, and the TSB Bank Festival of Lights is now the longest running and most successful festival and arts event in Taranaki, attracting up to 150,000 visitors each year.
In 2005 the festival was named Creative New Zealand’s premier Cultural Festival and Arts Event and recently Pukekura Park and the TSB Bank Festival of Lights have advanced to the coveted “Mayfair” spot in the new version of 
New Zealand’s Monopoly board game.
Since 1993 the TSB Bank Festival of Lights has been managed by New Plymouth District Council. The festival delivers a wide-ranging programme of events, entertainment and a spectacular lighting display set against the backdrop of New Plymouth’s 52 hectare jewel, Pukekura Park.
A nightly entertainment programme held in Pukekura Park. Two open-air stages of entertainment over an eight-week period feature local, national and international performers. All performances are provided free to the local community and visitors to the district, leaving no-one in any doubt about where to go for a unique kiwi summer experience!
During the day activities and events are delivered throughout the New Plymouth District for children and their families. Activities include scavenger hunts, a Teddy Bears Picnic, circus acts, creative and artistic expe
riences and much more.
The festival of lights is one more reason why New Plymouth is voted the best city in the World and in New Zealand. This festival is almost a ritual and is one that many in the province are proud of. Every night there is entertainment and fun and it just all add to make New Plymouth a happening place
December 01 2008 | Uncategorized | 1 Comment »
This afternoon two further properties sold by Mortgagee Auctions. The two properties of 24 Tuiti Street in Waitara and 28A Record Street in Fitzroy went up for auction at 5:30pm today at our Auction Room in New Plymouth. There was a very large turn out of people who were obviously out to hopefully bag a bargin.
This is what Wikipedia says about a Mortgagee Auction:
Mortgagee auction is the term used in both Australia & New Zealand to describe a property foreclosure auction. It is the process by which real estate is forced to auction by a bank or lending institution. This normally happens when the borrower defaults on their mortgage. Although the term “foreclosure auction” is the most common terminology in America for this type of real estate sale, this is not so in either Australia or New Zealand. In these two countries, the term that is recognized by both real estate agents and property investors alike is mortgagee auction.
The advertising for 24 Tuiti Street, Waitara was:
A PROPERTY WITH POTENTIAL
On a rear 948 sq metre, fully fenced, FREEHOLD section, sits a tidy 3 bedroom home with a double garage.This property is a must view if you are contemplating adding to your property portfolio or about to begin your journey into property ownership.
This property was Auctioned publicly first and sold for $175,000 with bidding starting at $150,000 there were two bidders bidding on this property on the night which is much less than I thought would have turned up considering the lower end of the price bracket this property was in.
The advertising for 28A Record Street, Fitzroy was:
SMASHING HIT ON RECORD
Mortgagee Auction, With an easy walk to the beech and town this is the perfect property for someone looking to enter the popular Fitzroy location coming up to summer. Low Maintenance with two bedrooms and open plan living and a single garage, this property wants you.
This property was Auctioned publicly second and sold for $205,000 with didding starting at $120,000. With two strong bidders bigging against each other. One of these bidders was on the phone. I was again surprised to see only two bidders as this property is in a prime location and had a lot of potential to make very nice.
I personally dont like to see mortgagee sales. They are on the increase. This was the third one to actually go to Auction with us at Harcourts in the past 2 weeks. The first one being 371 St Aubyn Street. Mortgagee sales are a fairly sad time as it usually means that the owner has not met their mortgage commitments and the lender has taken over the property to recover the money they have lent on the property.
The best advice I can give someone is if you are getting into a situation where you are falling behind on repayments take action quickly and try and sell your house before the lender does. Aquire professional advise early in the piece from your solicitor, accountant and your real estate professional. By taking proactive steps you may save yourself huge worry and in some cases a lot of money.
November 18 2008 | Uncategorized | 2 Comments »
The median sale price for a New Plymouth City house increased to $302,000 (September 2008: $285,000; October 2007: $294,000). 79 houses sold in October (September 2008: 81; October 2007:90).
19 houses sold in the Taranaki Country area in October (September 2008:20; October 2007:29). The median price rose to $250,000 from $226,500 in September (October 2007: $238,500).
Median Days on the Market have increased to 60 Days.
The New Plymouth market in my personal judgement is still ticking along fine. Vendors here are starting to be realistic about their property prices and this helps with keeping the sales numbers relatively steady. We have the best City in the World here and this shows by the enquiry number starting to peek. But vendors are needing to be realistic in setting prices for their properties. We may see some increased activity with the recent award we wont (I know my blog has in numbers into the thousands) but people will still not buy something if its over priced.
If you want to know anything more on the market in New Plymouth please contact me and I will help.
Regards, Deon
November 13 2008 | The Market | No Comments »
Three weeks ago North & South Magazine named New Plymouth the best city in New Zealand and last night at 3am 11 November 2008 NZ time New Plymouth was voted best city in the world in both of the competitions it was in the running for in the LivCom awards held in Dongguan City China. Coming first in Category Two with a gold medal for the best city in the world and also coming First with a gold medal in the Natural Project Award (our coastal wlakway). We also got a special awad fro sustanability within our community. New Plymouth was a clear stand out. This is a great honor for New Plymouth and also the entire New Zealand. This is a great job done by all including our representatives in China, our mayor and two councilors.
The LivCom Awards is the world’s only Competition for local communities that focuses on environmental management and the creation of livable communities. The objective of The LivCom Awards is to encourage best practice, innovation and leadership in providing a vibrant, environmentally sustainable community that improves the quality of life.
Involvement in The LivCom Awards will result in increased international profile for our community and will have communities from around the world International looking at us in regards to Best Practice in environmental and landscape management, heritage management, community empowerment and forward planning. We are now world leaders at this.
The Awards covered five population categories. And New Plymouth come out on Top in our category. Communities are not compared against others within their population category but are judged as to how they are performing in respect of the judging criteria within the cultural, political, economic, geographic and climatic environment in which they are situated.
THE JUDGING CRITERIA
Enhancement of the Landscape: Landscaping, in the context of the Awards, is the aspect of the City and Townscape, which creates an environment enhanced through horticultural and infrastructure designs. It must be demonstrated how landscaping in a community has brought together all of the distinct elements, both built and natural, so as to establish a sympathetic relationship between the built and natural landscape. The Judges will seek evidence of the protection of the natural heritage and of ecologically important sites, biodiversity and introduction of vegetation in more difficult environments. This section should demonstrate how the landscape in your community has been enhanced to create an environment that generates civic pride, facilitates enjoyable recreational experiences and improves the quality of life within your community.
Heritage Management: Heritage, in the context of the Awards, is defined as the bringing together of historic property, green and natural heritage, industrial heritage, language and cultural practices, designed to ensure that the legacy of the past is protected. This section should demonstrate how your community values, preserves and manages its built and natural heritage and, where relevant, the multi-cultural nature of this heritage, so as to contribute positively
to the quality of life of current and future generations.
Environmentally Sensitive Practices: This section should demonstrate how your community has adopted innovative environmentally sensitive practices and pursues initiatives that result in sustainable management of the environment. The Judges will seek evidence that your community is involved in efforts to apply sustainable development and to promote best practices that lead to the development, conservation and preservation of the environment. This would include the enhancement of the quality of air, water and land, biodiversity and the reduction in the consumption of natural resources through use of alternative materials and sources of energy and recycling.
Community Sustainability: This section should demonstrate the method and style of ongoing involvement of individuals, groups and Organisations in the planning, development and management of the local community, and how the local community is empowered and react to the opportunity of being involved in its development. Components of this section will include
integration, development, satisfaction, resources and involvement.
Healthy Lifestyles: This section should demonstrate the community’s record of healthy lifestyles, both through the provision of appropriate facilities, and the promotion of active participation. The healthy lifestyle context should include evidence of the development of wellbeing, community cohesion, active participation in play, recreation, sport, cultural activity (especially festivals, carnivals etc.), and by further examples of dynamic social integration.
Planning for the Future: This section should demonstrate the use of sensitive and creative planning techniques for the creation of a sustainable, liveable community. Your Presentation should demonstrate how higher levels of strategic plans integrate with more specific plans. It
should demonstrate how plans reflect the needs of the community and how they are being, or are to be, implemented in a practical context linked to available resources, so as to address all the aspects that make up a truly liveable community.
LIVCOM 2008 RESULTS
WHOLE CITIES
Category A
1. Greystones, Ireland Gold
2. Guanda Community, China Silver
3. Nieuwpoort, Belgium Silver
Ogema, Canada Silver
Linlithgow, Scotland Bronze
Trafalgar, Australia Bronze
Category B
1. New Plymouth, New Zealand Gold
2. Chrudim, Czech Republic Gold
3. Kladno, Czeck Republic Silver
Montreux , Switzerland Silver
Zhujiajiao, China Silver
Newark on Trent, England Bronze
Eger, Hungary Bronze
Category C
1. Broadland, England Gold
2. Pecs, Hungary Bronze
3. Mikolow, Poland Bronze
Category D
1. Changxing, China Gold
Category E
1. Municipality of York, Canada Gold
2. JiangYin, China Silver
3. City of Johannesburg, South Africa Bronze
Project Awards
Built
1. The World is Mine China Gold
2. Dongli, Vanke City China Gold
3. UniverCity, A model sustainable community Burnaby, Canada Gold
Qinglingjing Community Silver
Johannesburg Cosmo City Silver
Poly – Spa Island Silver
Chinese Overseas Community Silver
Yokohama, Tamadaira no Mori Housing Complex Silver
Enjoy Happiness Community Silver
Chinese Eminent Garden Bronze
Cosmos Eastown Bronze
Hidden Valley Bronze
The Blue Peninsula Bronze
Green Wild Villa Bronze
Dragon Mountain Community Bronze
Natural
1. New Plymouth District, New Zealand Gold
2. Johannesburg Xtreme Park Makeover Gold
3. Pilsen, Czeck Republic, Improvement of
Water quality in Velky Bolevecky Pond Silver
Johannesburg, South Africa: Klipriver Greening & Rehabilitation Project Silver
Broadland: Stairway Silver
So well done New Plymouth. This is a great place to live and a great place to be a great place to live and a great place to grow up. A place all people of New Plymouth should be proud to call home.
November 11 2008 | Uncategorized | 14 Comments »
QV’s October statistics for the residential property market report a 6.8% decline in national property values over the past year (calculated over the three months ending October 2008 in comparison to the same period last year), down on the 5.8% decline reported in September. The average New Zealand sale price for October remained steady at $379,290.
“Property values have declined further in most parts of the country. Activity levels remain unusually low, especially considering that spring usually brings an upsurge in the number of house sales. Poor weather across most of the country, plus the school holidays, probably contributed to this” said Blue Hancock of QV Valuations.
“There appears to be uncertainty in the market, with many buyers and sellers waiting to see any impact from the financial crisis, dropping interest rates and the election before committing to property transactions” said Hancock.
Most of the main centres are showing further slight declines in property values. Across the Auckland area property values are down 7.7% compared to the same time last year, declining slightly from the -7.0% reported last month. Hamilton City’s values have also dipped slightly further to -9.0%, Tauranga to -7.9%, the Wellington area to -6.1% and Christchurch to -7.8%. Dunedin improved slightly to -8.2% compared to the -8.5% reported last month.
There is more variability in the change in property values across the main provincial centres. Whangarei (-8.5%), Rotorua (-9.4%), New Plymouth (-8.1%), Queenstown Lakes (-8.1%) and Invercargill (-4.6%) have all declined further. Wanganui (-6.0%), Palmerston North (-9.5%) and Nelson (-4.9%) also declined further, but only slightly. The year on year change in Gisborne remains unchanged at -10.1%, while Napier ( 4.3%) and Hastings (-5.0%) have both recovered slightly.
What’s happening in Taranaki/Taupo/Wanganui?
What does this all mean?
Well from my view the propert market is tough. Buyers are definately holding back from buying as many have been waiting to see what happens with the economy and the elections. This years general elections were held on Saturday just been and the country voted in a change government which saw National taking a comanding position in the polls. This generally has had a positive spin on the property market looking back in history. But we also have to take into account the present state of the economy not just here but all over the world.
There are good things coming out of this though. Property prices have come back coming back on from a massive increase over the previous 7 years which saw values multiply by 3 or 4 times. But now with the easing of prices this makes property just that little more affordable for the average person to buy – especially firts time buyers.
There are other factors that come into play which to me are going to have a positive spin on the housing market in New Zealand. These things are the interest rates dropping. The OCR has dropped 1.75% this year and is set to fall even more – although mortgage interest rates may stay steady for longer as the costs to the banks for borrowing overseas is still high. Fuel prices are coming down. Crude oil is the lowest its been for 3 years which has seen our petrol prices fall by 30%. Although they could be alot less our NZ Dollar is also low which has ofset some of this. But exporters are now making more money from the drop in the dollar which will stimulate our economy but there is also less demand for many products around the world as the global economy slows down.
Food prices are still high but in the last few weeks the price of milk and dairy products has dropped by 5% which is a direct saving at home. All these things are now letting families have a little more money in their back pockets. On top of all this we have seen the first round of tax cuts from the outgoing Labour Party and the National Party is promising more within the next 6 months. Thats great news for everyone.
I feel that the property market has still got a fair drop to go. Signals point to a smoothing out of the property market but we are not immune to whats happening around the world. We are not out of the dark yet. It will be some time yet before full confidence is returned to the market but if you are in a position of selling and want to move on this is as good a time as any to do it. Because what you have to remember is the capital loss you may have experienced in the last year have been felt all over and when it comes to re buying you will be buying for a less value. This is a time when you make your own destiny and many people are doing well. Its all about how you approach things and the motivated and forward thinkers are making the most of it. Sellers need to be realistic and price according to where the market is in your area. If you dont its a waist of time and money.
If you seriously need to move realise this and act accordinly. There is no point in holding out for a dream price as you may be waiting for a number of years. As an agent I dont like to see people losing but all you need to do is look at the statistics. Look at my recent sales catalogue and other things and this will compare and reassure you of whatis happening. The only thing anyone can hope for is to achieve a fair market price. And thats in any market.
November 10 2008 | The Market | 3 Comments »
The Recent Sales Catalouge is now avaliable to you for FREE by simply clicking the image above. The password to open the document is deonswiggs This has taken a lot of hard work with many hours have been spent updating and getting it right ready for you to see on here. (Updates are done Monthly). The sales are from Westown New Plymouth which is the area of New Plymouth I specialise in. This document shows every single sale from this area dating back to November 2006. Thats two years of sales!
This is great reference document for the people of New Plymouth. It directly compares sales to sales in a pictorial format which can give you a very clear directory of sales. I have found that this document helps the people I let use it feel confident in what they are doing. There seems to be little confidence with some people but by showing that there still are many many people buying houses for a reasonable price it gives a sence of security that the person is doing the right thing.
Take a look. I have put this up for open viewing because I feel its important to make things avaliable to people who need it. I have put alot of time and effort into this and if you do take a look at this document I would appeciate your feedback so I can make improvemtents and make it even better would be appreciated.
Remember this is just for the properties of westown which has approx 2000 homes. So its not a true representation of New Plymouth but a very good cross view.
Password: deonswiggs
November 06 2008 | Buyers and Sellers and The Market | 5 Comments »
North Island coastal town is judged the best place to live in New Zealand
The accolades keep coming for the coastal town of New Plymouth. New Zealand’s North & South magazine has named the port, located in the Taranaki region on the North Island’s western coast, the country’s top town – and the best place ‘to live, love, work and raise a family’ – beating the better known locations of Christchurch, Wellington and Auckland.
Christchurch took second place, with Auckland and Wellington coming an equal third.
The announcement came just a few weeks after New Plymouth was named the only New Zealand finalist for a Whole City Award in the International Awards for Liveable Communities.
Mayor Peter Tennent says, “Being judged the top community in New Zealand by North & South is a huge accolade.
“Those of us that live here have never been in any doubt of how fantastic this place is, but it is wonderful to have independent judging attesting just that. The best place to live in the best country in the world is pretty special!”
New Plymouth District, which boasts 1.7 percent of New Zealand’s population, is popular choice for British migrants. It is the region’s financial centre, and a hub for the dairy farming industry as well as oil, natural gas and petrochemical exploration and production.
The coastal city is also renowned for its botanical gardens, such as Pukekura Park, its 7km scenic coastal walkway, bordering the Tasman Sea and stunning views of Mount Taranaki (also known as Mount Egmont). With snowboarding, skiing, surfing and waterskiing all close to hand, it’s a huge hit with sports fanatics too…
North & South editor Virginia Larson says New Plymouth stood out for several reasons, from its climate and natural environment through to the district’s economy, facilities, and affordable housing and lifestyle.
“Since we last ran our Top Town Competition in 2000, New Plymouth has rapidly developed its art and cultural offerings – such as Puke Ariki, concerts and events like WOMAD, and major sporting events like the ITU Triathlon World Cup, Davis Cup, rugby and cricket fixtures,” says Ms Larson.
“To cap it all, we felt New Plymouth has a sense of ‘can-do’ and a real community spirit.”
North & South also scored New Plymouth highly for job opportunities and economic growth, and for the initiatives and successes of Venture Taranaki and the Mayors’ Taskforce for Jobs.
North & South sent questionnaires to more than 40 cities and towns around the country, and evaluated the information that came back alongside data from organisations such as Statistics NZ, NIWA, Quotable Value and BERL.
“There were still those hard-to-judge, more ephemeral factors – community spirit, confidence – which we got to argue over,” says Ms Larson.
“We mostly argued over the runners-up, however. It quickly became clear that New Plymouth was our winner.”
Mayor Pete says New Plymouth District’s greatest strength is its community.
“The people who live here are a passionate lot, and are always looking at new ways to develop opportunities,” he says.
“It’s because of our heritage of innovation and determination that we have ground-breaking facilities, extensive parks and reserves, a magnificent programme of events and festivals, and a very strong local economy – which combined with our fantastic landscape makes for a lifestyle that’s unequalled anywhere. We truly are blessed!”
So its clear to say that we do have a great city in New Plymouth. Its a truely wonderful place to live. From my perspective talking with many people who do buy in this area say they come here for the peaceful but activity rich lifestyle. I myself am of the same conclusion. Where else can you go and enjoy some of New Zealands greatest surf beaches and then take off to the mountain and enjoy the snow and if thats not what you like the enormous amount of parks and feature flower gardens in the district will blow your mind away. If your a proactive and go getter person you will never run out of things to do in New Plymouth and the greater Taranaki.
Source: www.scoop.co.nz
November 01 2008 | Uncategorized | 1 Comment »
QV’s September statistics for the residential property market report a 5.8% decline in national property values over the past year (calculated over the three months ending September 2008 in comparison to the same period last year), down on the 4.5% decline reported in August. The average New Zealand sale price for September was $379,854.
“Indications last month that a more optimistic mood had come over the market have since evaporated” said Mark Dow of QV Valuations. “We are moving into an economic recession and there is plenty of speculation that things will get worse before they get better. Uncertainty about the impact of the global credit crisis, the usual lack of activity prior to an election, and significant tightening of lending policies by the banks is contributing to pessimism in the property market and there is little expectation of any spring resurgence. The requirement to have a significant deposit will take many first home buyers and investors out of the market, reducing demand and putting further downward pressure on prices” said Dow.
Across the Auckland area property values are down 7.0% compared to the same time last year, declining further from the -5.8% reported last month. Hamilton City’s values have slipped slightly to -8.8% and Tauranga to -7.6%. The Wellington area has also declined further to -5.4%, Christchurch to -7.1% and Dunedin to -8.5%.
Most of the main provincial North Island centres are showing further declines in year on year value compared to those reported last month. Whangarei has declined further to -6.6%, Rotorua -6.4%, Napier -4.4%, Hastings -7.0%, New Plymouth -7.0%, Wanganui -5.5%, and Palmerston North -9.4%. Gisborne is the only centre to improve slightly to -10.1% compared to the -10.4% reported last month. In the South Island, Nelson dropped further to -4.0%, Queenstown Lakes to -5.3%, and Invercargill to -1.6%.
What’s happening in Taranaki/Taupo/Wanganui?
The property market in from my perspective is rather interesting and by no means dull. I however am seeing many people sitting on the fence and waiting to see what happens due to current world events. We all know whats happeing in the economic world. The credit crunch, House Prices Falling, Finance companies going under, Banks Closing, Sharemarket drops, Government Bailouts, It all sounds scarey doesnt it. And the reality of the matter is it is. The world is in a tight situation financially and is likely to be for some time. But this doesnt mean that the world is ending.
My best and honest advise if your selling or buying property at the moment use an agent. I am seeing alot of the agents I work with going over and above the call of duty now to work and help people get deals done. They are making sure everything is in order before a deal closes and are following the process to the end. Its fairly tough out there for everybody but we are all in the same boat. Talk to your agents, they are right in the thick of the property market and if they are informed and are good agents I have no doubt they will provide you the best advise for your unique situation what ever that may be. But make sure you look at all your options. When you know all your options it will make the whole process alot easier. Noone likes seeing someone in a tight financial situation. We are here to help.
October 13 2008 | The Market | 4 Comments »
New Plymouth is in line to be named the best place in the world to live.
UPDATE NOVEMBER 11 2008 – NEW PLYMOUTH HAS WON THE TOP CITY IN THE WORLD AWARD. Click to view article.
But we up against some solid opposition from standout towns in the Czech Republic, Hungary, Canada, Switzerland, England, Poland and China.
England-headquartered International Awards for Liveable Communities has just announced nine finalists for this year’s awards, which will be judged and announced in China in early November.
New Plymouth is the only New Zealand community to be shortlisted for any of the awards, and it is in line for two of them – a Whole City award for communities with populations between 20,000 and 75,000, and the coastal walkway has been shortlisted to win the 2008 title as the world’s best environmentally sustainable project.
District Mayor Peter Tennent, chief executive Barbara McKerrow, and general manager of community assets Anthony Wilson are all to travel to the judging event to make presentations on behalf of New Plymouth.
“Just to be a finalist in both these categories means greater awareness of what New Plymouth and New Zealand have to offer in terms of a great lifestyle both now and in the future,” Mr Tennent said yesterday.
“If we win either or both of these awards, the benefits through worldwide public awareness could be huge.”
The awards, which were launched in 1997, are endorsed by the United Nations and are the world’s only awards that focus on best practice regarding management of the local environment.
The objective of the awards is to encourage innovation and leadership in providing a vibrant and environmentally sustainable community that improves the quality of life of the people who live there.
The communities aren’t judged against each other, but on how they are performing against criteria that ranges from enhancement of the landscape and management of heritage, to healthy lifestyles and planning for the future.
There are nine communities in line for the Whole City award, and they include Chrudim, in the Czech Republic, which is known as the Athens of eastern Bohemia, the Hungarian wine city of Eger, Switzerland’s beautiful lakeside centre of Montreux, the historic English market town of Newark on Trent, Poland’s mountain community of Powiat Tatrzanski, and the water town of Zhujiajiao, which is known as the Venice of China.
New Plymouth’s hugely popular coastal walkway joins 11 other finalists for the title of the world’s best environmentally sustainable project – the judging criteria for this honour is that the projects must demonstrate sustainability and environmental awareness, and encourage the maximum positive impact on the local environment.
There’s a variety of projects on the shortlist, including a model sustainable community called UniverCity at Simon Fraser University in British Columbia, a city centre redevelopment at Jordan’s Greater Irbid Municipality, which aims to preserve the city’s cultural identity, the Cosmo City mixed-race housing development in South Africa, and a culture heritage trail in Poland.
Mr Tennent said he was hugely enthusiastic about New Plymouth being named a finalist for the awards.
“Basically this says that out of all the countries in the world, New Plymouth is one of just nine cities that could receive the ultimate accolade as the best place to live,” he said.
“The people who live and work here already think this part of New Zealand is pretty special – but now we have an independent panel of international judges who have looked at what we’ve got, and noticed that something pretty outstanding is happening here.”
source: Taranaki Daily News 23/09/2008
September 23 2008 | Uncategorized | No Comments »
Although August was said to be a very low month in general for sales around New Zealand, New Plymouth found itself still holding up strong. All the stats show that it was a better month than both June and July. Not a whole lot better but could be a signal that things are moving. This can be seen with the average time on the market dropping for the first time this year and also with the median slae price moving upwards. The Stats are as follows.
Median Days Median Sale Price Total on Market Total Sold
August 61 $300,000 951 71
July 69 $285,000 1027 76
June 53 $285,000 1061 69
September 23 2008 | The Market | 2 Comments »
New Plymouth, a great city to live in. And as a lot of New Zealand locations there is a great deal of history here. This post is here to help better inform you on how our city was moulded and the history of our great city.
The city of New Plymouth, New Zealand, has a history that includes a lengthy occupation and residence by Maori, the arrival of white traders and settlers in the 19th century and warfare that resulted when the demands of the two cultures clashed.
European settlement began in the early 1840s at a time when many original Maori inhabitants were absent, either because they had been taken captive by northern Maori warriors or had migrated south to avoid war. The rapid growth of the colonist population, coupled with insatiable demands for land by the New Zealand Company and the dubious practices it employed in purchasing it, created friction with local Maori, leading to war in the 1860s. New Plymouth became a fortified garrison town and its residents suffered hunger and disease. Farming was impeded and immigration and trade came to a halt.
In the aftermath of the war, as improved road and rail links with other towns resulted in a rapid growth of population and economic stability, the town became a major exporting port for dairy produce from the Taranaki district and the administrative centre for Taranaki’s petro-chemical industry.
Before 1838: Early contact and inter-tribal conflict
The area where New Plymouth was founded had for centuries been the home for several Māori iwi (tribes). From about 1823 the Maori began having contact with European whalers as well as traders who arrived by schooner to buy flax. In March 1828 Richard “Dicky” Barrett (1807-47) set up a trading post at Ngamotu after arriving on the trading vessel Adventure.
View of the New Plymouth shoreline. The city is to the left and in the distance is Ngamotu and Sugarloaf Islands, scene of the first European settlement.
Barrett and his companions were welcomed by Te Āti Awa tribe, who realised that the Europeans, with their muskets and cannon, could assist in their continuing wars with Waikato Maori, as well as providing cloth, food and utensils. Following a bloody encounter at Ngamotu in 1832, most of the 2000 Āti Awa living near Ngamotu migrated south to the Kapiti region and Marlborough, leaving about 300 to live on the newly fortified Moturoa and Mikotahi, two of the Sugarloaf Islands west of Ngamotu. Barrett also left the area. The Waikato Maori returned in 1833, laying siege to the Āti Awa remnant until their surrender almost a year later.
1838-1840: New Zealand Company’s first land purchases.
In 1838 the New Zealand Company was formed in England with the purpose of facilitating and encouraging migration from overcrowded cities to New Zealand, selling land to settlers who would work as farmers and labourers. A separate enterprise, the Plymouth Company, was established in Plymouth in February 1840, where it was run under the guidance of agent Thomas Woolcombe. (Many streets in New Plymouth bear the names of the company’s directors, including Woolcombe, the Earl of Devon, Thomas Gill, Sir Anthony Buller, Lord Eliot, George Leach, Sir Charles Lemon, Edward St Aubyn, E.W.W. Pendarvis, Lord Courtenay and Hussey Vivian.) The company merged with the New Zealand Company in April 1841 after suffering financial losses through the collapse of its bank.
Barrett returned to Ngamotu in November 1839 aboard the Tory, a vessel carrying out an exploratory expedition for the New Zealand Company. With him was Colonel William Wakefield, a land purchasing agent for the company. A month earlier Wakefield had claimed to have bought 80,000 km² (20 million acres), comprising one-third of New Zealand, from certain Taranaki and other Maori in Wellington. The area extended from Aotea Harbour near Waikato to Hurunui River in north Canterbury in the South Island.
Barrett, who could speak some Maori, acted as the sole agent for the New Zealand Company, negotiating the purchase of Taranaki land on behalf of the company and on February 15, 1840 – the month the Treaty of Waitangi was signed – a formal Deed of Sale was signed by 75 Maori individuals, with payment made with guns, blankets and other chattels. Many witnesses later testified that Barrett had not read out the deed or adequately explained it at the time of signing. Included in the purchases was a vast area in central Taranaki extending from Mokau to Cape Egmont, and inland to the upper reaches of the Whanganui River including Mt Taranaki; a second deed, the so-called Nga Motu deed, included New Plymouth and all the coastal lands of North Taranaki, including Waitara. The company had already begun on-selling the land to prospective settlers in England with the expectation of securing its title.
J. Houston, writing in Maori Life in Old Taranaki (1965), observed: “Many of the true owners were absent, while others had not returned from slavery to the Waikatos in the north. Thus the 72 chiefs of Ngamotu cheerfully sold lands in which they themselves had no interest, as well as lands wherein they held only a part interest along with several others.”[8] The poor understanding by Maori of the nature and extent of the sale – confusion that later led to tension and warfare over land – was not aided by Barrett’s translation skills: at subsequent Land Claims Commission hearings in Wellington he was invited to demonstrate his translation ability on a lengthy, legalistic document and was said to have “turned a 1600-word document, written in English, into 115 meaningless Maori ones”.
The Waitangi Tribunal noted that Wakefield’s purchase, and the company’s subsequent sales, were patently invalid: on January 14, 1840 George Gipps, Governor of New South Wales, of which New Zealand was a dependency, had issued a proclamation that purchases of Maori land by private interests after that date would be null and void and not recognised by the Crown. In November the company renounced its initial large-scale “purchases” in a deal that provided it with four acres (1.6ha) for every pound it had spent on colonisation.
1841: Selecting a sit
e
Eleven months later, on December 12, 1840, Frederic Alonzo Carrington, the 32-year-old Chief Surveyor for the Plymouth Company, arrived in Wellington with the task of creating a 44 km² (11,000 acre) settlement in New Zealand for people of the West Country. Wakefield had already been informed that the Plymouth Company was to take over some of the New Zealand Company land. He urged Carrington to select a site at Ngamotu.
The pressure on Carrington was intense: the first settlers’ ship had sailed from Plymouth on November 19 and was already en route to New Zealand. Carrington invited Barrett to join his team and about January 9, 1841, the pair arrived at Ngamotu with a party of assistant surveyors on the barque Brougham, ready to choose a site for the new town.
Carrington inspected the area around Moturoa, then set out by whaleboat to examine Waitara, rowing 5 km up the Waitara River. He returned to Wellington, determined to examine sites in the South Island before making a final decision. Barrett guided the Brougham around barren areas near Nelson, highlighting swampy areas that would be unsuited to settlement.[1] Biographer Angela Caughey claimed Barrett’s choice of locations to show Carrington was part of a strategy, motivated by self-interest, to discourage the surveyor from siting New Plymouth in that area instead of Taranaki. On January 26 Carrington informed Wakefield that despite his reservations, he had opted to site his town at Ngamotu.
He wrote to Woolcombe in Plymouth: “I have selected a place where small harbours can be easily made and with trifling expense, close to an abundance of material being on the spot … I have fixed the town between the rivers Huatoki and Henui … two or three brooks run through the town and water is to be had in any part of it. The soil, I think, cannot be better. There is much open or fern country and an abundance of fine timber.”
Carrington told Woolcombe he had wavered on the site of the town after making two forays up the Waitara River, where he discovered beautiful country. “I once had made up my mind to have the town there,” he wrote, “but the almost constant surf upon the bar has caused me to prefer this place … the New Plymouth Company has the garden of this country; all we want is labour and particularly working oxen.”
New Plymouth was laid out over 550 acres (2.2 km²), with additional rural sections proposed along the coast beyond Waitara, covering a total of 68,500 acres (274 km²). By year’s end his map of the town showed 2267 sections ready for selection by settlers, with streets, squares, hospitals, schools and parks surrounded by boulevards that separated the town from the suburban districts. For decades, however, Carrington would come under attack from settlers who thought the location of New Plymouth had been poorly chosen because of the lack of a natural harbour.
1841: The first settlers
The first of the town’s settlers arrived on the William Bryan, which anchored off the coast on March 31, 1841. In steerage were 21 married couples, 22 single adults and 70 children. George Cutfield, the head of the expedition, wrote a letter home, describing the settlement as “a fine country with a large quantity of flat land, but every part is covered with vegetation, fern, scrub and forest. The fern, on good land, is generally from four to six feet high. There are thousands of acres of this land which will require but a trifling outlay to bring into cultivation.”
Temporary housing sites had been provided on Mount Eliot (the present-day site of Puke Ariki museum), and frustrations mounted as settlers were forced to squat in homes built of rushes and sedges through winter, amid flourishing numbers of rats, dwindling food supplies and rising unease over the prospects of a repeat raid by Waikato Maori. The first suburban sections were not available until October, while those who had bought town sections were forced to wait until mid-November.
The second ship, Amelia Thompson, arrived off the Taranaki coast on September 3 and sat off shore for five weeks because its captain feared Ngamotu’s reputation as a dangerous shipping area. Its 187 passengers were helped ashore by Barrett and his men over the course of two weeks, each small boatload taking five hours to row from the vessel to the shore. The ship’s precious food cargo, including flour and salted meat, was finally brought ashore for New Plymouth’s starving residents on September 30. The loss of its baggage ship, the Regina, which was blown ashore on to a reef, contributed to New Plymouth’s reputation as a dangerous area for shipping, discouraging other vessels from berthing.
By one account, settlers were by now “moaning vociferously about having ever left England. Living was a continual battle to shield themselves against the elements and their food supplies against termites, insects and hungry animals. Drunkenness was rife among the labourers in a dreary existence with too little to do. Flour supplies had run out again and there was no likelihood of more until the next boatload of settlers arrived. Te Ati Awa, too were hungry. The co-operative ones had planted more crops than usual, to feed the coming Pakeha, but so many more Europeans had turned up than they expected, that they also were short of food.”
As summer arrived, buildings began to be erected, gardens planted and wheat sown. Other ships soon arrived to provide more labour and food supplies: the Oriental (130 passengers) on November 7, 1841; the Timandra (202 passengers) on February 23, 1842; the Blenheim (138 passengers) on November 19, 1842; and the Essex (115 passengers) on January 25, 1843, by which time the town was described as a collection of raupo and pitsawn timber huts housing almost 1000 Europeans.
1842-1866: Land disputes
As settlers arrived, they occupied allotments throughout the coast to beyond Waitara. Many had bought land from the New Zealand Company before the company had purchased the land itself. Tensions between Maori and settlers soon became evident: a party of settlers were driven from land north of the Waitara River in July 1842 and surveyors were obstructed by a group of 100 Maori in 1843.
Yet the town continued to thrive: by 1844 it had two flour mills on the Huatoki River and by 1847 it was recorded there were 841 hectares of land in cultivation.
In May 1844 William Spain, who had been appointed Land Claims Commissioner to examine New Zealand Company land claims, began inquiries in Taranaki. The company withdrew its two large land claims of 1840, restricting its claim of “legitimately purchased” land to Nga Motu. Spain ruled in its favour, endorsing its claim to 24,000 ha extending north from the Sugar Loaves, except for pas, burial places and land in cultivation (48ha), native reserves of 10 per cent of the land (2400ha), land for the Wesleyan Mission Station (40ha), and land for Barrett and his family (72ha).
On July 2 Spain wrote to Governor Robert FitzRoy advocating the imposition of a military force to persu
ade the Maori that everything was in their best interests, or as he put it, to demonstrate “our power to enforce obedience to the laws, and of the utter hopelessness of any attempt on their part at resistance …” As Spain saw it, New Zealand had been colonised for philanthropic reasons, “to benefit the Natives by teaching them the usefulness of habits of industry, and the advantages attendant upon civilisation.”
The award, wrote J.S. Tullett in his history of the city, “was received with great hostility by the Maoris”. They wrote letters of strong protest to FitzRoy, who responded with sympathy. After visiting New Plymouth in late 1844, FitzRoy formally set aside Spain’s award, acknowledging that the land had been sold without the approval of the absentees. He substituted it for a 1400ha block that became known as the “Fitzroy block”, which included the town site and only the immediate surrounding area. Many settlers who had taken up land outside the Fitzroy block were thus forced to move back within its boundaries, fostering widespread hostility towards FitzRoy.
According to the Waitangi Tribunal, the Fitzroy block deal was less a purchase than a “political settlement based on the reality that there were already settlers on the land, who had to be either accepted or driven out … (the sale was) more akin to a treaty, because Maori also imposed two significant conditions. The first was that settlers still outside the Fitzroy block would be brought back into it and the second was that the settlers would expand no further.” A 12-metre high boundary mark, known as the FitzRoy Pole, was later erected on the banks of the Waiwakaiho River to indicate the limit of Pākehā settlement.
Still, however, migrants continued to arrive. In 1847 Fitzroy’s bellicose successor, George Grey, responded to settler resentment by pressuring Te Atiawa leaders to sell more land. Firmly rebuffed, he then turned to individual Maori who were prepared to accept payment. By means of these secret deals Grey bought 10,800ha in five blocks: two were at Tataraimaka and Omata to the south-west of New Plymouth and thus beyond the scope of FitzRoy’s accord, but three were in Te Atiawa territory – the Mangorei or Grey block to the south of the Fitzroy block, plus Cooke’s Farm and the Bell Block between New Plymouth and Waitara. The sales triggered fighting among Maori sellers and non-sellers, but the Government succeeded in its aim: by 1859 it claimed to have bought a total of 30,000ha. (The New Zealand Company had surrendered its charter in July 1850, with all its land holdings passing to the Crown).
Grey’s determination to secure more land despite Maori opposition had been made clear from the outset: in an 1847 letter to his newly appointed Inspector of Police, the former Sub-Protector of Aborigines Donald McLean, he said that apart from reserves set aside for resident Maori and those returning from the south, “the remaining portion … should be resumed by the Crown for use by Europeans.”
On February 22, 1860 mounting tensions over the sale of a 600 acre (240 hectare) block of land at Waitara led to the declaration of martial law in Taranaki and three weeks later, on March 17, Governor Thomas Gore Browne ordered a military assault on Te Atiawa chief Wiremu Kingi and his people at a defensive pā. War had officially begun in Taranaki.
1860-1866: Wartime crisis
Map of New Plymouth, 1860, showing entrenchments around the town.
As more than 3500 troops poured into Taranaki, New Plymouth was transformed into a fortified garrison town. Most women and children were sent to Nelson while the men joined the military forces. For more than two years all farming was carried out under military protection, with farmers returning at nightfall to the security of the many military forts. More than 200 farms were burnt or plundered while the war raged. By July 1860 the town was reported to be in a state of siege. One soldier wrote: “The natives have come close up to the town, murdering every soul who is fool enough to go half a mile outside the ramparts.”
Disease, a result of extreme over-crowding, was rife (121 died from disease during the war, 10 times the annual average), food was scarce and the settlers were bordering on despair. There were widespread fears the town would be attacked by Maori warriors, especially when two strong pa were built within 3 km of the town. The wave of immigrants quickly evaporated. In October 1860 a settler wrote: “Little remains of the settlement of Taranaki outside the 50 acre section to which the town is reduced.”
The war ended with an uneasy truce after a year, although later skirmishes, described by some historians as a second Taranaki war, later took place.
Sourced by the encyclopedia of New Zealand and Wikipedia.
September 06 2008 | Uncategorized | No Comments »
June saw an interesting month. We had the first cold snap which saw a dramatic dive in people searching for a property to buy. Over the last month and even as we are now I only am seeing the same people out there looking for properties. They are eighter the ones that a fishing for a bargin or property investors. I am seeing very few new faces out there. Maybe this will change as we get into the summer.
Here are the Stats as per June
Total Sales in New Plymouth May: 87 June: 69
Properties on Market (approx) May: 1135 June: 845
Days on Market (approx) May: 48 June: 53
Median Sale Price May: $332,500 June $285,000
If you want to see the previous 6 months please click this link.
But as I said above the market has slowed here in New Plymouth considerably. The median sales price fore New Plymouth dropped back a lot. Maybe it is a monthly dip that may correct itself. But something I wish to point out is the number of homes on the market. This had a massive drop and is the lowest amount of homes on the market in over a year. I contribute this to a few things. The colder weather, less people coming to the market and very high number of people withdrawing from the market.
July 23 2008 | The Market | No Comments »
As per my last article that I wrote on New Zealand Market Trends I thought it was fulling to do one for New Plymouth. Now our market here is quite different to the rest of New Zealand as you will see. We really lagged behind the rest of the country when it come to price going up. Our average sale price was still steady while the rest of New Zealand was increasing. But 2 years into the increases New Plymouth experienced the boom, and it was in catch up mode to the rest of New Zealand. Our prices accelerated at a very quick rate.
Here is the market trend calculated monthly over the last year.
As you can see its fairly steady but starting to fall away over the last few months.
The average calculated monthly over the last five years captures the boom period. But this is over now and long gone and you can see the cooling off period clearly with the start of a downturn period.
The long term stats in the third graph here shows the long term average in New Plymouth calculated monthly from 1992 (that’s 16 years). You can clearly here see the long term trend and the long time it took for the prices to jump in New Plymouth.
In this view you can also see clearly the peak and then the start of a downturn (if it happens). It will be interesting to see what happens in the Next 12 months.
July 14 2008 | The Market | 2 Comments »
Have a look at these Statistics. After a fair bit of research these are the statistics of the New Plymouth Market for the last 6 months.
Month Total Sales Properties on Days on Median Sale
New Plymouth Market (approx) Market Price
Dec 70 840 34 $293,000
Jan 74 981 49 $311,000
Feb 101 1041 51 $320,000
Mar 62 1292 59 $340,000
Apr 80 1073 43 $307,500
May 87 1135 48 $332,500
As you can see the proportion of sales compared to the amount properties listed has a huge gap. As you can see the median sale price has a lot of variance in it, but in a small market such as New Plymouth and with a small total of sales there are many factors that contribute to any variance in this. Such as a couple of high priced sales or a few low priced sales within any month can swing this either way. But the average for the last 6 months was $317,000 up 3% on the 6 months prior.
But the thing that is evident from this is the amount of properties on the market. After the summer holidays were over it looks as if people put their homes on the market and this just flooded it. If you’re a vendor you have a lot of competition out there and if you’re a buyer you have a lot to choose from.
June 23 2008 | The Market | No Comments »
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