Kevin Mealamu and Manager Lucas Bonné discuss winning entries.

Congratulations to all our winners!

 “Why I love where I live…” competition:

 $30 Westfield Vouchers:

* Sam Wuthrich  (age 4)               

* Jennifer de Koning  (age 10)             

Highly Commended:

*  Maia Houkamau    (age 6)

 Colouring Competition:

 First Prize $30 Westfield Voucher: Ollie Taylor (age 4)

Second Prize:  Renee Montford  (age 5)               

Third Prize:     Karl Wallace (age 7)

 Highly Commended:

* Hugh Bell  (age 5)

* Madeleine Simpson (age 4)

* Jasmine (age 6)

* Kayla Clarke (age 6)

* New listing numbers down from May – but up on same month last year.

* Sale numbers up on last month.

Listings down on last month, sales up on last month indicates demand continues to outstrip supply at a considerable pace….. Hence the reports in the media re some properties securing premium prices.

Activity is apparent in all market segments – including the top end (which is unusually active at present).

This presents an ideal opportunity to list and sell your home.

The Barfoot & Thompson Greenhithe team is going from strenght to strength. Let us help you make Winter 2012 a great season for you too!

Give us a call!

Please find below a link to our current Holiday Fun Competition. Win one of three $30 Westfield Vouchers or a spot prize!

For those seven and under – there is a colouring competition.

For older competitiors there is a great creative challenge.

Over to you!

 Click on this link for your instructions/picture Holiday Fun

Under current legislation, tenants are responsible for paying water rates (if the tenancy agreement so states.) However, landlords are responsible for waste water charges.

Council refuses to bill tenants – instead billing landlords.

In addition, it now wishes to bill everyone EVERY MONTH!

This means landlords will have to forward the bill to tenants for payment of one portion and pay the other part themselves.

New Zealand post & the banks will love the extra work load provided (SIX times as much). Council will need an extra number of staff to create the bills & receive the separate payments toward one bill.

Landlords, tenants and everyone else will loath the extra work.

A great way of lowering the NZ productivity for no gain.

Benefit to community? Nil.

Benefit to council? Nil.

Another piece of senseless bureaucracy.

Well done Len!

After a busy  summer season, the normal seasonal slow down into winter has not occurred this year.  In May, Barfoot & Thompson had the highest number of new listings for May in 5 years. “But even this number of new listing was insufficient to meet buyer demand, and at the end of the month we had only 4356 homes on our books, the lowest number in five years.” (Peter Thompson) On the North Shore, multi offers and Pre- Auction offers are almost the norm. Times to sell are continuing to be fast & the number of weeks of supply in Auckland (at 21 weeks) is very low compared to the long term average (of 33 weeks). In Greenhithe all of the above are demonstrated well. Increased listings, even more sales, lack of choice for purchasers…..

On the North Shore, alarge part of the activity is in the first home bracket of the market. Investors, too, are out in force again. Builders can see the writing on the wall. Over the last half year, we saw an increase of consents – and over the last few months we have seen an improving number of  newly built homes coming on to the market (e.g. in Mural Place, Greenhithe). In Greenhithe, we don’t really have first home buyers stock. Demand is evident in all price brackets. We, however, do have better choice in the $million plus bracket, with more listings coming to the market.

 When supply outstrips demand, prices rise. Over the last few months, we have had many a delighted vendor. Prices are definitely going up(average sale price up 2.5% in May). Whilst we are being invited into more homes for appraisals,  supply remains well below demand .

 NOW would be a great time to list. Make sure, though, you get good advise & use the appropriate marketing methods to maximise your sale price!! It is sad to see some people undersell!

 Sadly – QV’s do NOT have any relevance to market value. Even valuers, who worked in the system are on record stating “ I can assure you they have very little relevance to individual properties” 

 A quick analysis of sales in the Greenhithe area over the last couple of months shows properties selling anywhere between 28% below to 18% above QV.

 Most were around 10% off actual sale value (both above or below)! With a sample average sale value of $690,000 – this means most QV’s were around $70,000 off real sale value….

 Let’s look at that again! If you are buying an average home in the area for $700,000, our limited analysis suggests, you could find the QV to be anywhere from $500,000 to $ 830,000. Most QV’s would be around $70,000 away from “fair market value” !!

 Why would you even bother worrying about the QV?

At Barfoot & Thompson, Greenhithe, we had our best month ever in July! With record sales, but lower than normal numbers of homes being listed for sale, choice has become very limited for purchasers. As a result, sale times are dropping and multi offers & early auctions are very much part of the scene.

Realestate.co.nz reports that as of 1 August, Auckland has 24.5 weeks supply – down from 30 weeks at the end of May and a long term average of 34 weeks.

For vendors, this presents an exciting opportunity. The current HOT winter market means there is no need to wait until Spring!  With an excellent ”Winter Warmer” advertising offer available and reduced competition in the market, opportunity knocks!

If you were thinking of selling, give us a call to discuss your options! 

If you are looking to buy – let us know what you are looking for. A lot of properties are sold within days of going to the market – don’t miss out!

Who came up with this interesting thought?

What is the purpose of rates?

In my opinion, rates are levied to cover the cost of running the public facilities in a city. A portion should go toward the running the democratic institution. The rest to cover shared community costs. Rubbish collections, road maintenance etc. are easily agreed upon. More difficult, but usually accepted are subsidies for the use of libraries, public swimming pools etc. Lastly, we see subsidies for public transport etc. (often hotly debated).

Can anyone please explain – what the use of public facilities has to do with house values?

Surely, a family of five, living in say Beach Haven in a home valued at $500,000 uses more services, than a single retired person living in Belmont in a house valued at $800,000. Why, then, does the retired person get levied more rates?

 Should rates be levied on a per person basis?

 Seems a lot fairer to me!

 What do you think?

When you were running for Mayor, you did so, on a platform (amongst other issues) of wishing to reduce costs for public access to pools.

 “Auckland is surrounded by water, and it is critical our kids learn to be safe and confident around it…”  as you put it.

 When I discussed this with you subsequently, you indicated, you would be addressing the issue of equity in your first year. Until now, admission to the 7 South Auckland pools has been free but in other parts of Auckland charges of around $8/person still apply.

 I note the Glenfield Leisure Centre has indicated it is now reviewing charges. I hope this is part of an overall review and will introduce this equity! Will you be making swimming pool access free?

 Look forward to your response.

 Lucas

Last year, the Greenhithe market (in line with the overall North Shore Market) showed low turnover volume (at 147 sales for the 2010 year – REINZ) representing around 70% of an average year (like 2009, with 204 sales – REINZ). This year sales volumes are back to normal (looking on track for around 200 sales). Purchasers (and even some investors) are back in the market.

Vendors (sellers) have been slow to take advantage of this renewed interest, and replacement listings have been well down. As a result, we are now very short on houses to sell and this has become the limiting factor in the market.

“At the end of May the inventory of unsold houses on the [Auckland] market fell to 30 weeks as compared to the long term average of 34 weeks.”  (Realestate.co.nz, NZ Property Report, 1 June)

 This year Auckland prices have recovered from the slow downward slide seen last year to now be 0.3% up on last yr and only 1.8% below the  2007 peak of the market (QV Property Update, 8/6/11).“With interest rates low, the labour market improving, and consumer confidence rising, we expect [rising turnover and recovering prices] to continue this year, especially as awareness grows of the shortage we have long written about.” (Tony Alexander, Real Estate Overview, 30 May)

This very much reflects the mood in the Greenhithe area. We have had rapid responses to new listings coming on the market with frequent multi offers & good results in the Auction rooms.

 If you are looking to buy – try to be in a position to move quickly, if the right property comes along. If you are looking to sell, take advantage of the shortage of property & consider listing NOW!