Wellington House Shortage Finally sank in with Buyers

Fcorrect wgtnIMG_0923or most of last year shortages of houses, and numerous bidders did little to affect prices. But now! Word on the street  – valuers, agents, houses getting resold from a year ago – its racing up at 2% a month. Up 15% since October.

May 04 2016 | And What About The Wellington Market? | No Comments »

224 Houses For Sale in City of 190,000 People.

Wellington, today.  I have no idea what is going to happen this year to prices, but it might be dramatic.  By contrast 124 houses available in South Wairarapa, population  only 10,000. Wellington is that out of kilter.

January 15 2016 | And What About The Wellington Market? and New Zealand Real Estate Market | No Comments »

1968- A 10,000 Pound Building Consent Cost – 28 Pounds!

Take that, you four wheel drive driving, $100,000 pa salaried, fancy officed, Resource Management Act  incanting and District Scheme quoting councils! Permits were 0.28% of the cost of the work! and it probably was better built, too!

consent fees

January 13 2016 | Around Wonderful Wellington and Environmental Comment | No Comments »

What a Great Job I Have!

I had an hour to fill before a tender closed last weekPicture 251. Cool clear Wellington morning. Getting exercise, and delivering Christmas cards in Pukitero Avenue Northland. Add this view: who could have a better job than me. He he; taken on a phone my daughters would scorn to own! Looks good enough to me!

December 28 2015 | Around Wonderful Wellington | No Comments »

Wellington Gets Busy- 65 Offers on this House!

Yes, the 65 written tenders this Northland Wellington house covered a range of nearly $300,000. We sold it  about 50% over the  – low- RV of $495,000.

It seems the arrival of some Auckland investors since 1st October deposit changes, has finally made Wellingtonians’ get a bit of confidence in their own housing stock! The shortage of stock & low interest rates may result in some upward prices in the new year: a change to what has been 8 years of virtually no price changes in the region. See graph below.

31 Kaihuacorrect wgtn

December 17 2015 | And What About The Wellington Market? and Auckland real estate and Memorable sales and New Zealand Real Estate Market | No Comments »

Auckland Buyers Storm Wellington?

In the last week I have had three offers from Auckland investors: one has bought this beauty in Thorndon from me. Way over its silly RV of $1,050,000. Yielding over 6%, on a lovely 550 m2 section in a great street in Thorndon ( Burnell Avenuemain). Bought without physical inspection though the buyer knew the property and carried out full diligence. The other two offers were made sight unseen also. I’ve rarely  had even one offer like that in 26 years real estate. A trend or an anomaly?

October 30 2015 | Around Wonderful Wellington and Auckland real estate and Landlords/Investment and New Zealand Real Estate Market and Notable Property For Sale | No Comments »

Great 2 x 2 bedroom Property with a twist.

See it here: Clementine Way: BEO $400,000.

Maybe subdivisable, likely expandable.Copy of 1-9

October 19 2015 | Uncategorized | No Comments »

Economist Renowned for Wise Predictions Ticks Wellington.

“Wellington offered good opportunities for investors, first home buyers, and people looking to free up cash outside Auckland,”  Tony Alexander Chief economist of the BNZ said last week.

“If you gave me $10 million and said go forth and buy a bunch of houses you reckon will produce the best capital gains in the next five years, where would I look? I would sink it into Wellington, Hamilton, Tauranga and a bit in Nelson.”

He expected to see a lot of talk soon about the good city life which Wellington offered.IMG_0460

“The ability to buy a reasonably priced house to raise a family, the fact few head offices are planning to shoot north now, the coming long-term benefits of the Transmission Gully Motorway, IT sector, culture, runway lengthening and the film sector.”

 

A local  Wellington real estate manager Marty Scott said in a newspaper interview:

“Wellington is looking like a good destination for investors in terms of price and yield”.  However he questioned if the growth was driven by out of town investors. He believed it was mostly Wellington buyers. “Currently about 15 per cent of buyers were from outside of the capital and about 3 per cent from overseas. In the last 3 months there had been no shift in these numbers”, he said.

Grow Wellington chief executive Gerard Quinn said there were plenty of job opportunities in the capital, particularly in the strong tech sector.

“With a vibrant city, excellent public transport and easily accessible coastline, the Wellington region offers so much more than lower house prices.”

August 28 2015 | And What About The Wellington Market? and Around Wonderful Wellington and New Zealand Real Estate Market | No Comments »

No offers Prior To Tender Close.

No offers presented till property on market for 7 days. No tenders that sell prior to advertised close date. My employers  have mandated these rules for years: seems reasonable in order to work for a vendors best price!  Licenced under REAA 2008

August 11 2015 | Auckland real estate and market manipulation and New Zealand Real Estate Market | No Comments »

School Zoning Tab on Realestate Web! Great News!

School zoning has been very profitable for agents. And tricky, as zones change. Well done team, this is a great feature mums and dads will love!Untitledbbb

August 10 2015 | New Zealand Real Estate Market and Websites and Zoning | No Comments »

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