Archive for August, 2013

Good Month For Feilding!

Believe it or not, but the median residential sale price increased $53,000 from June to July 2013. June was $205,000 and July was $258,000. Before we get carried away, we must understand that on a month to month basis, the Feilding median jumps around a lot because we have a relatively small sample of sales. That is why I usually use the median calculated over 3 months, which was $218,500 in June and $225,000 in July, an increase of only $6,500. What I believe has happened, is that our median dropped to an artificially low level, and it is moving back to where it should be. In 2012 it remained close to $250,000 all year.

The number of sales by all Agencies was strong at 35 for the month of July. There have been an average of 28 sales per month for the 7 months of 2013, which is exactly the same as for the average of 2012. As a comparison, a long term average is in the 30 – 33 range, so we are still operating below average as an industry.  Feilding averaged 24 in 2011, 21 in 2010 and 23 in 2008. Those were the bleakest of years, and values dropped in 2008. 2009 was stronger at 32. The best year ever was at the start of the boom in 2003 when the average was 47. Back in 1999 the average was 28, which is the same as 2012 and 2013 to date.

Kind regards

Michael Ford

Shortage Of Listings Getting Worse = Good Time To Sell!

The July BNZ-REINZ Residential Market Survey indicates that the property listings shortage throughout most of NZ looks like getting worse. This is based on a survey of licensed Real Estate Agents throughout NZ and in particular the number of new listings obtained, and appraisals requested.

We are short of house listings in Feilding, making it a good time to sell, with a small amount of competition in the market place.

The survey is now for the first time asking licensed Agents whether they are seeing Auckland people looking to buy in their region. There is strong interest from Auckland in Waikato, Bay of Plenty, Gisborne and Hawkes Bay, with some interest further from Auckland in places like Manawatu.

We certainly have good Buyer interest, so If you are thinking of selling and would like a free no obligation appraisal, don’t hesitate to contact me.

Kind regards
Michael Ford

 

How Large Are Our Houses?

I have looked at the last 81 houses sold in Feilding and the following floor area results have emerged:

House area % Sold
75m2 – 99m2 21%
100m2 – 124m2 36%
125m2 – 149m2 16%
150m2 – 174m2 9%
175m2 – 199m2 4%
200m2 – 224m2 9%
225m2 – 249m2 0%
250m2 – 274m2 3%
275m2 – 300m2 2%
Over 300m2 0%

Where a garage is attached to the house, the floor area includes the garage, but separate garages are not included.

57% of the sales are of houses under 125m2, and 73% are of houses under 150m2.

There were not many larger homes sold in Feilding in the period under review of just under 3 months.

The largest group was 29 houses (36%) with floor areas between 100m2 and 124m2.

In the 1950’s and 1960’s in particular most houses built were under 100m2. Most houses built recently have been over 175m2.

Kind regards

Michael Ford

 

Attracting Commercial Investment

Feilding is one of the strongest towns in NZ, and has attracted significant large commercial and industrial building development through a period in time where there has been a downturn in the economy. This hasn’t occurred to the same extent in most other towns. For example, and this list is not 100% complete:

Proliant                                                Farmlands
FMG, Big Barrel                                 Manfeild Developments
Ovation expansion                             BNZ/Paper Plus/AMI
Totally Vets                                        The Strong Room
Woodlands Resort                              South Street West Motel
Ranfurly development                       Manawatu Truck services
Claas  Harvest                                     Power Farming
Community Probation                        Postie
Tricklebanks                                        Agri business Centre expansion
Puddleducks                                        Coach House Museum
The Secret Garden                             Pak n Save
MyFarm redevelopment                   Ballentynes
Hell Pizza                                             Custom Blinds & Curtains
Dollar City                                           Spring Patisserie
United Travel                                     Feilding Dental Centre
Pizza Piazza                                         Flight Centre
Performance Beef Breeders NZ

Feilding has created an environment that has attracted major investment and growth. Long may we continue to do so.

Kind regards,

Michael Ford