The Block Open Day

TV3’s The Block open day will be held on Saturday 25th October from 9am to 3pm and the best way to get there would be to catch the Outer Link bus and get off near the intersection of Meola Rd and Walford Rd, Pt Chevalier

Full details including a map, proposed events and activities are available online here.

While you are in the area check out the homes we have for sale in Pt Chevalier here and read all about the Pt Chevalier housing market here.

October 13 2014 | Uncategorized | No Comments »

Auckland auction sales drop 25% in September

The commencement of the spring market has seen the number of Auckland auction sales drop by 25%  when comparing September 2014 with the same month last year, according to the latest press release from the Real Estate Institute.

32.8% of all dwelling sales in Auckland were by auction in September 2014, compared with 43.8% of all dwelling sales in Auckland in September 2013.

Across NZ only 18.1% of homes were sold by auction in September.

It would be great if the industry offered more transparent data when it comes to auction results for example:

1) What was the sale price under the hammer versus original appraisal price supplied by the salesperson?
2) Did the vendor lower their reserve price/expectation in the stressful high pressure period when the auction was actually taking place?
3) Was the sale made under the hammer or negotiated afterwards?
4) How much above the reserve price that was set before the auction did the property achieve – ie was there really a premium above vendor expectation?

Our view is that a sale at auction is one where it has sold “under the hammer”, however the latest official definition of an auction sale is a sale that took place either under the hammer, or within one working day of the auction, to a party who was in attendance at the auction. This may be one of the reasons data indicates that auction sales volume has dropped, as reporting of auction sales must now take into account the new definition!

We have noticed in our office, over the last few months, a distinct preference from buyers and sellers to avoid the auction process with many buyers, when registering with us, commenting “do not quote us any auction properties”. Buyers definitely prefer to secure a contract on a property for 3 to 5 working days during which time they will obtain finance, valuations, building reports etc and will often pay more, having been given that opportunity.

We were recently approached by a couple who had purchased a home that was marketed as an auction by another company. The day they settled the purchase they approached us as they needed to resell it so we simply put a price on it and sold it a few days later for $60,000 more than they paid for it! So fairly obvious which method obtained the best result in this particular case.

You can read the full REINZ September press release here

Also worth a read is this Commerce Commission paper on Buying and Selling at Auction and this article from properazzi.co.nz

 

October 13 2014 | Uncategorized | No Comments »

The Block 2014 comes to Newell St, Pt Chevalier

It has been reported on page 7 of this mornings NZ Herald on Sunday that The Block is coming to Pt Chevalier.

This will place a major focus on Pt Chevalier and the local property market, although could cause serious disruption in the immediate Newell St area, especially at school drop off and pick up times.

It will be interesting to see how they go with regard to the planning rule that requires Resource Consent if removing a pre 1944 dwelling and also given proximity to the coast whether or not any other restrictions will kick in.

Will they move the existing homes to the rear and place two second hand homes onto the front or remove the existing homes and build four new homes – time will tell.

If you are inspired by The Block and motivated to carry out your own renovation and/or development then perhaps consider a couple of homes we currently have for sale at 3 Wainui Ave and 47 Oliver St – see details at www.sellrealty.co.nz

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March 16 2014 | Uncategorized | No Comments »

Point Chevalier waterfront structures swamped by king tide

All around the waterfront jetties and low lying areas were swamped by the 3.7m king tide this morning! This jetty is near the Oliver St boat ramp.

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February 02 2014 | Uncategorized | No Comments »

King high tide at Pt Chevalier beach brings the crowds

It was difficult to find a park anywhere close to Pt Chevalier beach this morning as the king high tide attracted what appeared to be at least 1,000 people to the beach!

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February 02 2014 | Uncategorized | No Comments »

Pt Chevalier beach synchronized swimming

Big crowds down at Pt Chevalier today and along with the sailing craft, paddle boarders, kayaks etc were these synchronized swimmers putting on a show!

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February 02 2014 | Uncategorized | No Comments »

2014 – a once in a generation year

If you want to start the year in a positive frame of mind have a read of this item on interest.co.nz where Brian Gaynor of Milford Asset Management is interviewed

 

 

January 29 2014 | Uncategorized | No Comments »

Auckland real estate market off to a cracking start in 2014!

Given the lack of stock noted by realestate.co.nz and record average Auckland sale price achieved in December, it is not surprising that our recent Auckland listings have been swamped with enquiry.

Our Pt Chevalier and Grey Lynn offices have signed up contracts on $10,774,000 worth of homes from the 18th of December to the 17th of January, with many setting street, area and category records and our first weekend of open homes on 11th/12th January saw over 100 people through our properties.

All of the above activity was generated without the use of print media or auctions and in fact it looks like $By Negotiation is the best way to go given that it appears only around 35% of auctions sold under the hammer in the last couple of months of 2013.

Many real estate offices and salespeople appear to shut down over the holiday period but we always find it is extremely busy with buyers on transfer, people returning or new migrants arriving from overseas and many desperate to get “in zone” for local schools before the first term commences.

This would be the busiest holiday period and most buoyant start to any year that we have witnessed since 2007 and it looks like there will be a strong lift in prices over the first quarter of 2014 in the central Auckland area, given the high level of demand.

If we could secure another 20 or 30 bungalows, villas or ex states in the Ponsonby to Pt Chevalier area right now we could most likely sell them all in the next three weeks!

If you are thinking of selling in the Ponsonby to Pt Chevalier area please email team@sellrealty.co.nz to arrange an appraisal and marketing presentation.

If you are looking to buy check out our current listings at sellrealty.co.nz

January 17 2014 | Uncategorized | No Comments »

Auckland house prices up 30.2% since the previous 2007 peak

In just 5 years Auckland house prices have increased by 52% since the low point in 2008 and are now 30.2% above the previous peak of July 2007.

If you would like to read a comprehensive report on Auckland house price performance, where prices may go in the future and how recent increases compare with previous periods access the full report at properazzi.co.nz

January 03 2014 | Uncategorized | No Comments »

High tide in Pt Chevalier

At 3.6 metres the tide was high in Pt Chevalier this morning, almost swamping the various jetties and structures on the waterfront!

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January 03 2014 | Uncategorized | No Comments »

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