Archive for the 'And What About The Wellington Market?' Category

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 »

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 »

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 »

wellington April Market update

Here is my monthly newsletter: recent sales around Wellington suburbs, tips & guides, and a chance to win High Tea at the Glorious Logan Brown! April news

April 30 2015 | And What About The Wellington Market? and Prizes | No Comments »

Maungaraki a Real Estate Sleeper

Few Wellingtonians evan know where it is ( above Petone.) High incomes, great community spirit &  excellent neighbourhood shops. 13 minuits to Wellington CBD, no power lines obstructing awesome views. Honest 60’s houses. My pick for “undervalued in Wellington.” I was recently involved in the sale of a  3 bedroom home, with garage and workshopIMG_0096, flat sunny safe lawn, view like this ….$380,000!

April 30 2015 | And What About The Wellington Market? and Around Wonderful Wellington | No Comments »

Petone is Hipville, Wellington

Hard to believe it had a slaughterhouse in the mainstreet not long ago! Now its cottIMG_0087age prices match Newtown & Mount Cook!

April 30 2015 | And What About The Wellington Market? and Around Wonderful Wellington | No Comments »

house supply reducing in Wellington- fast.

Benchmark listings for Wellington city dropped from 1440 2 months ago to 1290 now. But take out 653 units, apartments & sections leaves 638 houses to choose from. There are 68,901 dwellings in the city. Whatever way you slice that, it is not a lot of choice for buyers!

 

May 29 2013 | And What About The Wellington Market? | No Comments »

Are Christchurch People Buying Elsewhere?

I have only met one Christchurch  party paid out on their destroyed house, who have bought in Wellington. They intend going back to Christchurch in 2 years. It seems almost no one has been paid out on insurance. Any agents anywhere seen evidence of Christchurch influence? If these homeowners  have not bought elsewhere, & can not yet re build….what are they doing? Australia? Renting elsewhere? Any ideas?

November 24 2011 | And What About The Wellington Market? and Earthquakes. aka The Big One and New Zealand Real Estate Market and Uncategorized | No Comments »

Wgtn CBD Apartment & Inner Suburb House equal after 6 Years.

Real Life story. Apreciation the same. I appraised apartment at $470k, conservatively. They paid $265k, 6 years ago. Took owners  yesterday to Northland ( we call it inner suburban, 10 min to CBD)  house to see if they would buy it ( They want a family) . The owners of that house  paid $250k 6 years ago, spent $20k on kitchen & decks. That has new valuation @ @465k. When apartment owners turned up, it turned out they had looked at it but chose the apartment, 6 years ago!

So relative to each other, the same value increase.

So those that say apartments around Wellington do not get the capital gain houses do are proven wrong in this real life example.

November 11 2010 | About Wellington Apartments and And What About The Wellington Market? and New Zealand Real Estate Market | No Comments »

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