Yet another exciting Parklands community development

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Pukeko Centre

In addition to the impending relocation of Avonside Girls’ and Shirley Boy’s to the former QEII site, as well as the construction of the Eastern Sports and Recreation Centre, it’s exciting to read about the next new project in our backyard.

The Pūkeko Centre is an exciting new community-led development in the heart of Parklands. The multi-use sports and recreation hub on the site of the Parklands Bowling Club will provide indoor and outdoor facilities for a range of local clubs, groups and organisations. Stage 1 of the development is due to be completed in late 2017.

It involves the relocation of two buildings from the former Freeville School – the Modern Learning Studio and the School Hall – onto the Parklands Bowling Club site in Chadbury Street.

These two ideally suited and good quality buildings were previously earmarked for demolition but have generously been made available to us by the Ministry of Education.  We are thrilled to be able to put them to good use for the benefit of the wider Parklands community!

The completed centre will provide a range of options for indoor and outdoor recreation and social activity including shared clubrooms, meeting rooms, catering facilities, hall, ample parking, bowling greens and all-weather courts for netball, futsal and tennis.

Nearly seven years after the earthquakes, it’s heart-warming to see this grass-roots effort come to fruition. The idea of re-purposing modern buildings from the former Freeville School is to be commended. It’s yet another example of Christchurch’s resilient recovery!

238 ‘as is’ sales and counting

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Pictured: 22 Titirangi Crescent - sold for a record 'as is' price in Tumara Park

Pictured: 22 Titirangi Crescent – sold for a record ‘as is’ price in Tumara Park

Celebrating our 238th ‘as is, where is’ sale is both rewarding and humbling, especially for a market that we didn’t originally set out to become specialists in. I have full respect for my team who have worked hard in a focused effort to help create the systems we have now, and the results simply speak for themselves. Of the 239 that we have listed 238 have sold! From the collation of property info packs both online and in hard copy to pre-drafting the sale and purchase agreement with appropriate clauses that protect both vendor and purchaser my team’s work ethic is nothing short of phenomenal.

Team Griff’s 99.6% success rate for ‘as is, where is’ sales
Such results are a direct reflection on our knowledge, expertise and systems. It may seem strange, but I am quite passionate about the process and the great thing about it is that process is very transparent. Post-quake and numerous scopes later, we have become “professional report” rich – great info to be able to prove the actual damage of a property.
Beware of the opportunists off the street or on the radio
With opportunity comes opportunists, and having heard some of their sales pitches, they are quite persuasive. The problem being their reality of value is based on both their perception only and in many cases, they pitch that conservatively to line their own pocket. Integrity is vital post-quake, especially so when people are vulnerable, some ground down by the process of fighting both EQC and their insurer for years. I recently met a gentleman who had been at it for more than six years – needless to say, he was at the end of his tether.

Marketing expertise
Effective marketing will bring you multiple parties and fair competition, a much more transparent way of establishing true market value.

1528 as is where is buyers as the click of a button
Team Griff have built up a strong following of ‘as is, where is’ buyers – as easy to unsubscribe as subscribe, our database has proved invaluable for both purchaser and vendor. With our first port of call being e-notifying 1500 plus as is buyers, vendors can be assured that their property is being marketed to those most likely to respond, let alone the phone calls we can make if the going gets tough.

The proven value of the auction process
Without question the auction process achieves better results for most properties. The reality is that it is very seldom that we don’t have multiple interest in an ‘as is’ property and auction is the best and fairest way of dealing with competition. There are more times than not where we get a better selling price than expected and with just one property last year that didn’t sell under the hammer, it is no wonder most sellers rejoice over an unconditional result that is on their terms.

The listings keep coming
While the ‘as is, where is’ numbers have eased a little over recent months there are still a lot coming through the system, so expect more of the same and be sure to keep in touch for the heads up on that new listing before it hits the market. Here’s to many more win/wins for sellers and buyers – both parties securing upside!

 

Team Griff – 7 Points of Difference

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7 Points of Difference(3)

 

 

Teamwork
Team Griff is synonymous for their team approach to customer service. Combining their vast experience in the greater Christchurch market both prior to and following the earthquakes means each team member knows their role with a joint focus on a superior client experience. With our highly skilled administration support, plus a team focus on both the selling and purchasing process, you can rest assured you’re in good hands.

Client and solution focused
We build a strategy around out clients’ personal requirements and utilize our experience and expertise to focus on your ultimate goals. We’re prepared to take the necessary steps to accomplish what you set out to achieve – with minimum fuss and inconvenience.

Market intuitive
“We never blame the market, we just adjust the game plan”.
There is nothing more inconsistent in the real estate market than inconsistency and having the intuition to adjust the plan to stay both abreast and ahead of your competition is essential, especially with all the curve balls than can be thrown our way here in Christchurch.

Proven track record
With nearing 30 years’ experience on the real estate coal face supported by an impressive array of accolades. Team Griff is well recognized for results, knowledge and pro activity when it comes to customer service. So whether it is your $1m listing on the hills or your earthquake damaged ‘as is where is’ property on the lean, rest assured we have the systems and expertise for a hassle free sale process.

Digital market leaders
We’re industry-renowned and respected for our online marketing expertise. We understand the benefits of a strong online presence in this fast-paced digital age. Embracing and utilizing these leading edge tools means our clients can benefit from the best 24/7 marketing and our extensive e-marketing campaigns.

Believers in our product
The skills and expertise of Team Griff coupled with the world-class marketing platform that Harcourts provides ensures higher exposure for a better result, plus the support of a well-motivated team.

Award winners
Harcourts Gold Customer Service Award 2015/16
Harcourts Gold Auction Excellence Award 2015/16
No. 5 Harcourts Christchurch Region 2015/16
No. 19 Harcourts New Zealand 2015/16
Harcourts $300M Club

New plans submitted for red-zone water facility

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Christchurch Red Zone Lake

 

 

Jack Fletcher at Stuff.co.nz reports:

The group behind a proposal to build a new lake in Christchurch’s residential red zone has released an indicative design of the flat water facility aimed to transform the city’s east.
The East Lake Trust, chaired by David Goodman, released the plans on Monday. He said trustees were “thrilled with the new design”, which reinstates an original bend in the Avon River around the back of Porritt Park.

Goodman said the trustees feel they are “now on the home straight” towards the lake becoming a reality. Bringing back the original bend had the added advantage of allowing the lake to join up to the Kerrs Reach rowing sheds, while remaining separate from the Avon River.

Aquifer-sourced water would make the lake swimmable, meaning it could be used for triathlons alongside canoeing, waka ama, dragon boating and rowing.

Goodman previously said the lake would be an place where people could swim, walk and picnic. It was also planned to be part of the City to the Sea walk and cycle way running from central Christchurch to New Brighton.

…

The Minister supporting Greater Christchurch Regeneration Gerry Brownlee had previously said he wanted to make the city’s red zone the “sporting capital of New Zealand”.

He said building a water course could attract global attention and solve the area’s flooding problems.

Once again I find myself putting pen to paper on the positive plans that continue to roll out for eastern Christchurch. A lake of this calibre would again be a real asset for the bordering suburbs and help put these locations back on the map. I take my hat off to the visionaries of the city, their initiatives and forward thinking is inspiring in itself. I think most of us will agree, that while we miss the “old” there is no doubt that the new is going to be far superior. Largely with affordable real estate, a new city and many new facilities emerging, Christchurch unquestionably has a positive future and certainly will be a great place to live for many years to come.

Why Christchurch houses have become more affordable

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Christchurch

Chris Hutching at The Press reports:

New Zealand’s second biggest city, Christchurch, is bucking national house price trends because politicians and building firms acted urgently after the 2011 earthquakes.

The earthquakes destroyed up to an estimated 20,000 Christchurch homes (12,000 red zoned), and the near-complete task of rebuilding them means prices have plateaued even as the city returns to net population gain.

The demand scenario was similar to Auckland’s migrant influx but the response was different.

I’ve often commended the ‘powers that be’ for freeing up the housing supply in Christchurch, which has largely addressed our city’s housing shortage over the past five years. Median sale prices are steady (currently at $442,500 according REINZ) and rents are falling – quite the contrast from the frenzied market of 2012 and 2013.

“It will take some real effort in Auckland. Gerry (Brownlee, Earthquake Recovery Minister) was lucky because there were builders like Ngai Tahu ready to go,” former chief executive of Ngai Tahu Property, Tony Sewell, said.

What they face in Auckland are owners of paddocks who aren’t necessarily developers, and they’re not ready to go,” Sewell said.

Christchurch’s rebuild was also fast-tracked by district zoning enacted by Brownlee, using special earthquake legislative powers.

“At Prestons (a 2300-home subdivision in north east Christchurch) we were already so close to starting, the nudge Gerry gave was not substantial, but he closed the gap,” Sewell said.

“Now we’re reaching a balance of supply and demand and there’s a risk supply will outstrip demand,” Sewell said.

Co-author of the annual house affordability Demograhia survey, Hugh Pavletich, credits neighbouring councils Waimakariri and Selwyn for speed in granting building consents for towns such as Rangiora and Rolleston

This acted as a vent on prices in the wider region, he said.

I’m a firm believer that Christchurch provides great opportunities for those looking to secure good value for property. There remains healthy competition for properties in the highly sought-after locations (Merivale, Fendalton, Strowan), where premium prices are being achieved. However, there is also a solid inventory of entry-level properties under $450,000, giving first-home buyers plenty of attractive housing options. This is great enticement for buyers to pursue these opportunities and actively secure property!

Team Griff’s early start pays dividends

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Early Start

At the time of writing, we’re about to complete our fourteenth appraisal, list our tenth property, and complete our forth sale for the new year. Needless to say, we are fairly upboard about the new year market, which we refer to as a premium time to sell.

Balanced market predicted

With the market tracking well for a positive start to the new year and with stock levels building steadily we predict 2017 to provide another year of balance. We are of the opinion that purchaser and vendor can both embrace the year positively – purchasers can continue to purchase confidently in what has become a sustainable marketplace as capital growth rates remain modest and property prices overall affordable. For vendors, they can expect to see continued demand and sell within a month, as we see no reason for the list-to-sell period to lengthen much from the 2016 average of 31 days. After all, with the flush local economy underpinning local investment and confidence, we are not likely to experience a downturn for some time yet.

‘As is, where is’ market continues strongly

Our first ‘as is, where is’ auction signalled more of the same for the year ahead. 54 inspections over 8 open homes produced five bidders and a result in excess of the reserve price. Our second auction resulted in an early auction after a mere four days on the market, with the ultimate sale price $50,000 above the pre-auction offer. With Team Griff’s track record of 98% sales under the hammer, our 1,300+ ‘as is, where is’ purchaser database, and 218 sales – we’re constantly receiving requests for assistance and consultation.
We see 2017 largely being a year of more of the same healthy investment into Canterbury real estate. Here’s to a great year ahead and be sure to be part of Christchurch’s exciting future and invest today!

New QEII Recreation and Sport Centre breaks ground

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QEII Breaks GroundIt’s been a great start to 2017 for the north-east with the council breaking ground for the construction of the new QEII Recreation and Sport Centre on Tuesday.

Rebuild Christchurch reports:

The new centre will include leisure and training pools, as well as a hydroslide, water adventure playground, steamroom and sauna, fitness centre and a café.

Mayor Dalziel and Cr East led a sod-turning ceremony that included the handing over of a sapling in conjunction with Te Ngāi Tūāhuriri. The ceremony set the stage for Apollo Projects to begin work on the site in earnest.

“The new QEII Recreation and Sport Centre will be an outstanding asset which will see the return of swimming and fitness amenities to QEII Park,” Mayor Dalziel says.

“Today’s ground-breaking ceremony for the centre marks a new beginning for the east and will become the heart of this community,” she says.

The new facility is scheduled to open in mid-2018, and will be joined by the relocated Avonside Girls’ and Shirley Boys’ High Schools, which are scheduled to open in 2019.

Speaking to Avonside Girls’ principal Sue Hume at a recent senior school graduation it was inspiring to hear the excitement in her voice as planning for the new public private partnership (PPP) ramps up with the focus on breaking ground at the beginning of 2017’s second quarter. Not only does the system provide for greater hands-on input, the resulting facilities are going to be far superior to what has been available in the past. Having this educational/public sports and recreation hub established on the former QEll site will unquestionably be a massive asset in the east for many years to come.

It’s definitely exciting times for the north-east with a proliferation of new residential development, state of the art educational facilities being constructed and the massive expansion of Burwood Hospital. The flow on effects to residential property values in the local area are likely to be significant.

Team Griff’s Summer Update

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Summer 2016 Header

Summer – great for holidays, great for real estate!

It’s that time of the year when we bust out the beach gear, crank up the barbie, relax over a few beers and most importantly take some well-earned holidays!

From a real estate point of view summer is also a good time to sell too. The new year provides a unique window of opportunity that traditionally produces brisk trading and a high volume of sales. We at Team Griff are great supporters of this market and believe it provides one of the premium opportunities on the real estate calendar. If you haven’t already, be sure to talk to us now about strategising a plan to maximise this marketing window to your best advantage.

2016: Progressive – active – balanced

Taking a local snapshot of the 2016 Canterbury marketplace, it would be fair to conclude that it has been a progressively active and balanced market this last year, underpinned by a healthy local economy. 2017 is poised for a positive start and we predict market activity to be brisk from early January supported by a good volume of sales in the first quarter.

Market strong for buyers and sellers

Canterbury’s post-quake building boom continues to provide good choice and volume for purchasers. Property owners selling can also expect to benefit from positive market activity, as demand for housing remains steady yet strong. The region’s healthy economy enjoys a continued injection of capital which translates to more money per capita, directly benefiting the real estate market.

Market Indicators - Summer 2016

Click on image to enlarge.

Exciting growth in east continues

Following a busy year where we have seen the opening of the Burwood Hospital upgrade, the commissioning of several new primary schools and an all-out effort on roading and infrastructure, plus there’s more to come. Speaking to Avonside Girls’ principal Sue Hume at a recent senior school graduation it was inspiring to hear the excitement in her voice as planning for the new public private partnership (PPP) ramps up with the focus on breaking ground at the beginning of 2017’s second quarter. Not only does the system provide for greater hands on input, the resulting facilities are going to be far superior to what has been available in the past. Having this educational/public sports and recreation hub established on the former QEll site will unquestionably be a massive asset in the east for many years to come.

Take care while travelling

If you are anything like me you will be from one end of the country to the other over the festive season, so do take care on our roads in this busy time. Choose your time to travel and apply the “minimise the risk” principle when planning trips.

Enjoy this great time of the year and we look forward to again working with you for more positive real estate solutions in 2017.

Team Griff’s Post-EQ Update

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November EQ Update


Shaky start to the week!

Well for most it was a rude awakening just after midnight early Monday morning – not really the shaky start that we were all after, let alone for many the need to evacuate their homes in the early hours of the morning. We all feel for our North Canterbury communities as they battle the aftermath and clean-up of such a significant event.

 

Business as usual

That aside here in Christchurch it will be largely business as usual and thankfully apart from being sleep deprived and a long rolling/rocking motion the city has come away relatively unscathed. Obviously, it is a little unsettling but with the events fresh in our minds of recent years we are quick on our feet to both reach out to each other and swing a plan into action.

 

Insurance embargo

Just FYI here is a quick note that we received from our contacts at AMI this morning:

Just letting you know that we temporarily have an embargo in place regarding taking on any new insurance risks anywhere north of Rakaia River through to Kapiti Coast. This will unfortunately also include properties already insured with AMI or other IAG brands (State, NZI, Lumley General etc).

My advice, if you have any auctions or sales coming up soon, is to get your agents to make contact with us all the same. We can then take details and keep you and your agents updated, rather than you having to continually enquire about whether new policies are being sold. I recommend using the Papanui@ami.co.nz email address; we will acknowledge these requests and will assign to one of our consultants to take ownership of. We can also start the process so that once IAG has issued the “all clear”, we can give the quickest possible turnaround.

I recommend that your agents prepare your customers for the fact that any insurer will definitely ask about possible damage from the recent severe earthquake, so they would be well advised to be proactive by speaking to the vendor about this.

Given our past experience following the Christchurch earthquakes, this was largely expected as reinsurers seek to minimise their risk until losses can be quantified. Click here to read more.

UPDATE: Major insurers have agreed to a deal to lift the “freeze” on new house insurance policies being issued. The Insurance Council of New Zealand has brokered a deal in which insurers will issue policies to new owners of homes, if they insured with the old owner. Click here to read more.

 

Maximising the current market

Well aware that time is fast running out prior to Christmas it is vital to maximise on the time left prior to the close of business for the year. With the Canterbury economy healthy and $100m still being spent on the greater rebuild weekly plus purchasers remaining active, there is no reason why a sale cannot be concluded in this end of year countdown – there is nothing like a deadline! Providing flexible possession prior or after Christmas will add another arrow to your quiver and something as simple as being open to additional viewing times can also ensure no opportunity is lost for the sale of your home.

Here at Team Griff we are conscious of the importance of getting the job done at this busy time of the year, so we are happy to strategise a plan best suited for the market and your circumstances.
Take care, keep safe and sleep well!

Griff and the team

So when is the best time to buy and sell?

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As Is Update(2)

The smart answer is now! In reality, we never know what tomorrow may bring. Today is the only day we can work with and have certainty about.

 

Brisk Spring Market

With the current market being at mid spring I am pleased to report that while there is certainly the luxury of choice for buyers, activity levels remain high and the buying public are not holding back from actively pursuing property. I consider it a brisk, yet balanced market and a market that both seller and buyer can benefit from. Unlike other spring markets that sometimes level off due to the sheer volume of property coming onto the market, this year purchaser activity appears to be hard on the heels of this newly released stock.

 

Traditional countdown to Christmas

With the end of year fast approaching, if you are planning to sell in this limited window it is important to plan this carefully to maximise your opportunities.

For example, if it is critical to have a moving date prior to Christmas, you will need to execute your plans with haste. It is not unrealistic for purchasers to request a possession date either side of Christmas from now on so it is important to factor this into your planning.

Time to plan now for the New Year market

With time fast running out this year, it is good to begin planning for the new year market, which is often strong. Traditionally, we find purchasers are keen to pursue property during this time and have often had time to relax and talk about their proposed plans. With clear plans and ready to seize the day, purchasers’ decisiveness in this market often boosts sales activity. For a seller having your property ready to launch to the market at the end of the first week of January will often give you a head start on your competition as most home owners look to take action once returned from holiday.

From a logistics point of view it makes total sense to prepare your home for sale immediately after Christmas and new year festivities prior to going on holiday. From a salesperson’s point of view having free access to a property will help boost additional viewing and what better than coming home to an offer on the table?

Late summer and early autumn often remains active however is less predictable as it is governed by supply and demand. Reflecting on the last couple of years’ market activity, however buyers have enjoyed more choice during this time, so it is important to give it your best shot with marketing and presentation.

 

Canterbury a balanced market

While some pockets of the local market are hot, overall there is reasonable choice for buyers. Looking at the bigger picture of the greater Canterbury market we now have a healthy inventory of available property. This of course is keeping capital growth at bay while at the same time keeping the market sustainable and property values realistic.

 

I trust this has provided some helpful advice for both buying and selling and please do contact one of the team if you wish to discuss the pros and cons further.