Monthly Archives: May 2011

Seen Real Estate Photography like this before?

May 30th, 2011

Haven’t actually met Ian before in person, but do recall him being up on stage at a past fellow NZ Realtors, Barfoot and Thompson, conference at Sky City.

Trying to showcase the size of the 2009m² section their property listing has, it would seem they pulled out all the stops.

I don’t know how this type of add would go in the more conservative south, but…..

I would suggest you’d be hard pushed to say it was a case of false advertising by a real estate agent.

From photo comments like “imagine starting your own zoo” (herds not included) there is an obvious element of “cheekiness” to it.

And in these quieter times, administration staff who have Photoshop experience don’t always get a chance to use it everyday.

After all, much of what is marketing is about thinking outside the square, isn’t it….doing something different to attract attention or a click.

Real Estate agents / marketers are tasked to do that they can, obviously within reason, to attract potentially interested persons/ buyers, and that’s no different on the web.

In real estate we have two of some the most important everyday items at hand to utilize, photos and words.

The above have depicted the usage of photos, and this little video clip below,

……….(promise its worth watching) should perfectly illustrate what “words can do.”

PROPERTY LISTING – here (obviously only until it sells….and then you’ll more than likely see an error page)

NZs Most Interesting Homes – May 2011

May 28th, 2011

What were the most interesting homes that stood out in the month that was May 2011?

Just thought I’d put this little shopping list together for you before you go “Open Homing.”

NZ’s most expensive residential property

 

NZ’s most expensive residential property above…some may well have wondered about the property shown below, admittedly close by……but to be frank……because of its more “business orientation” makeup – its really more of a commercial reality…..and therefore doesn’t really qualify in the residential stakes.

 

 

And this one below, is it ….

NZ’s biggest residential home available to buy in todays market?


I do recall seeing this home in some Home and Garden or was it Design magazines a while back, but at 1000m2 of living, thats big.

And although this one below doesn’t quite qualify at only 750m2.its worth a mention because for a smaller city like Hamilton this is still one heck of a home!


 

NZ’s biggest over water waterfront apartment…..



You may recall seeing this one on TV1’s Breakfast program last year……but don’t worry you haven’t missed out, its still available. Down on waterfront Quay St, Auckland …….obviously on the top level, and with 6 bedrooms and 6 bathrooms, then you’d expect it to have at least 880m2 of floor area, no less!

NZ’s most expensive Island (hmmm…see below for NZ’s biggest Price Reduction)

NZ’s “in the media” property of the month

 

NZ’s biggest Price Reduction

According to website listings Pakatoa Island it is…..and here’s where it started at……

…and then since July of last year

…… its been advertised like this…..

 

And quickly following this one up……possibly NZ’s second biggest price reduction?

……..and also winning again……..if you aren’t in a hurry to move…..quite possibly

NZ’s most agreeable settlement date?

Perhaps the one showing the most concerted effort……..would have to be this one here.

Advertised alternatively as a Ridgetop Estate, and Ridge Top Mansion comes this property.

One company had it ………

Another is trying

and now another has got it. Have to admit love the different angles that the various photographers picked to show the mansion off.

And there you have it, Real Estate for the month of May 2011 in New Zealand.


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NZ home prices – must be more to it?

May 27th, 2011

One thing I certainly hear from most new buyers to the Nelson region is this one word.

Surprise.

They fire up Google and type in Homes for sale in Nelson. (alternatively they could save themselves a lot of time & effort by just going straight to realestate.co.nz directly)

And then they see it….SURPRISE.

That “surprise” translates to the most asked question I field out in the Nelson real estate market each week.

“Why are home prices in Nelson just about the same as New Zealands 3 – 4 major cities?”

On this site I have tried to offer up some explanations for that, and am constantly sharing those views also, in photos over at Nelsonians Life.

The Centre of New Zealand Monument, Nelson, NZ

At the end of the day though its about supply and demand…..oh and living in the sunniest place in NZ which also just happens to be the Centre of New Zealand geographically.

Central Living so to speak

You may have noted this past week, media publication of the fact that the OECD have released their inaugural “multinational index of well-being and wealth.”

In it, New Zealand was placed near the top, and shared the top rankings with Canada, Australia and Sweden.

Media around NZ have suggested the stand out point from the index/survey was that it was only New Zealands financial wealth that was holding us back as a nation from occupying the top spot.

Cue the chart.

Data - http://www.oecdbetterlifeindex.org/countries/new-zealand/

Looking at that chart, I think that’s a valid point.

In covering the touchy subject of “equal to Australia by 2020” (aka Income), the OECD note the following key findings;

In New Zealand, the average household disposable income is 18 996 USD a year, lower than the OECD average of 22 284 USD.

But more importantly though was this very telling factoid;

In New Zealand, the average household wealth is estimated at 16 131 USD, lower than the OECD average of 36 808 USD.

So although household disposable income is about 85% of the OECD average, it’s the average household wealth that’s the real difference, with a glaringly low level of 44% of the OECD avg.

Mitigating that however, the OECD do state in their covering notes;

“While the ideal measure of household wealth should include real assets (e.g. land and dwellings), such information is currently available for only a small number of OECD countries.”

…so perhaps that’s what is making it harder for them to accurately judge this category.

However Aoteroa did get one a red mark when it came to the topic of working hours, or in our case long working hours.

DATA - Compendium of OECD well-being indicators - http://t.co/HpwQt7f

Although there were ten member countries identified as having “employees working very long hours” that were above the OECD average, NZ was 5th on the scale.

Thoughts to ponder?

1. Do Kiwis have too much equity tied up in their homes?

….and….

2. Therefore is it something then (the home) that gives us the most security / satisfaction, that has allowed us to rate so highly in this index after all? And just perhaps items like environment, community and health play such an important part on our psyche that it does matter when its the community where you own/live in………..rather than just the one you rent in.

On the subject of Transparency

Another interesting statistic produced recently from international real estate organization Jones Lang Lasalle, was contained within their latest biennial Real Estate Transparency Index.

CLICK GRAPHIC FOR MORE INFO

In singling out the “usual suspects” they went on to say;

The traditional leading pack – Australia, New Zealand, the United Kingdom, the United States and Canada – have now been caught up by a number of European markets. Sweden, Ireland and France now sit among the world’s most transparent markets.

The 2 yearly index rates 81 countries, and New Zealand placed fourth equal with Sweden in the latest one.

Is the fact that conducting real estate property transactions in New Zealand so transparent also aiding “that something” to the attraction for Kiwis, ex-pats and also immigrants?

If you wanted to investigate more about this transparency for yourself, then head on over to this page here, as good a place to start as any.

I can’t help but note that two of the countries (#1 and #4) accused by those “housing price predictor” gurus out there, also seem to be the same ones that just coincidentally rate in the top 4 places to live according to the OECD?

Lastly just to throw something in from the left field, you’ll know I’ve mentioned on here before that next to Ireland, ex-pat Kiwis living overseas make up an enormous number of off-shore Kiwis, the 2nd highest percentage of any countries population living offshore.

Now when they come back home, is what they experienced overseas (& perhaps not wanting to be replicated here) played out somehow on the local real estate market, or…..is it because they have been transient for so long…….they now want to put down “roots.”

Overall there really are just too many identifiers to tag that could point to why places like Australia and New Zealand “are meant” to have very high home prices. So its best leave it to the statistics folk I think, but there research does offer up some compelling reasons why Kiwis & Aussies place such importance on the personal home. After that, its just a supply and demand matter.

SOURCE – OECD Better Life Index (NEW ZEALAND)

SOURCE – Global Real Estate Transparency Index 2010

Is this New Zealands Most Expensive Home EVER?

May 23rd, 2011

Ok, that may seem like a headline grabber if there ever was one.

...looks familiar

But between you and me what would you ever expect a home to be priced….as a Kiwi…..if it were ever to qualify for the title of this post?

Would it be the $20million plus figure that was paid for a property inland of Motueka, ….just some basic Nelson Real Estate over in the Tasman District some years back…..or would it be more in the realm of a reputed NZD$25m+ Paritai Drive property?

Hello…Hanover.

Over 150 millionaires looking on 1 day!

According to the visits registered above at realestate.co.nz, there seems no shortage of millionaires looking to buy such a property in New Zealand.

No, frankly it would seem, the price of this property eclipses all of these, and reportedly would make any Hollywood “Peter Jackson” type mogul very very happy indeed.

Hmmm...is that Museli or Eggs Benedict?

Why did I mention Mr Jackson….well on account of the fact that he seems to be one of the only other Kiwis (other than Nelsons…well Motueka again is mentioned…Goodman brothers) that I am aware of that happen to have in their stable……one of these little G550 beauties…..and I’m not sure that “little” is the best term here, is why. (guess what I’m trying to say is that $50m is not little)

Perhaps Sir...would like a swim.....?

Which brings me to listing #1531792, listed since April 2011…..that I have been confidently assured…

….is the most expensive property EVER advertised for sale on any real estate website in New Zealand, ever!

Not a bad view

Hmmm….checked your ticket lately?
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Nelson Real Estate Home Sales Report – April 2011

May 16th, 2011

In the results for March 2011 last month, I reported the news that…

“…….Nelson /Marlborough was the only region other than Auckland to record a stronger lift in volumes compared to the national result, with Nelson City leading the way with a 48% lift in volumes.”

So of course I was extra eager to see the April 2011 outcome.

REINZ figures were released last week, & they show Nelson real estate exhibited a more “steady as she goes…” type of movement, but hey considering the current environment……that’s actually not a bad thing at all.

Commenting on the April 2011 sales results, REINZ Chief Executive Helen O’Sullivan said;

“….results reflect a steady market across New Zealand with signs of a lift in prices in the South Island, and Auckland prices still solid with limited supply”

Nelson got another mention here……

Across the country all regions other than Wellington, Southland and Nelson/Marlborough recorded a decrease in days to sell.

Below is my chart depicting Nelsons home sales makeup for April 2011, confirmed by REINZ sales data input from local agencies.

CLICK to enlarge

There you have it.

Plainly as you can see from the above chart, the family unit type home, them of the 3 ~ 4 bedroom variety, they certainly have the lions share of the market currently in Nelson town.

Like your own QV Report - click on chart

Whats so good about that?

Well, seems even QV couldn’t help but comment on Nelson….as in….

In Nelson values have been relatively stable since January 2010 and as a result the gap between last year and this year is only -0.7 percent.

Hmmm……now where have I heard that before?

Frankly, I think the above QV-NZ chart amply illustrates it perfectly.

Huh?

Well, whilst we see NZ down 2%, Nelson fared ok….what I’d describe as…. situation normal.

Three bedroom homes usually depict families, and in these new millennium times, that usually (ok not always) indicates some school age children, and for most occasions, two working parents.

We had a Swiss student some years back, and it was stunning to hear that she had grown up, she was 20 something….and

…………..she had never known a backyard that had grass.

Now for no other reason that you want to bring “your children” up in somewhere decent….to let them really experience life, then little ole Nelson town rates pretty highly.

Here’s the official REINZ chart included in last wks press release. (REINZ data – Press Release May 11th, 2011)

Hmmm....REINZ could do with consulting someone re their new graphics resolution?

Just be aware that this month on….I’m concentrating on the Nelson only figures, not including our cousin across the hills, Marlborough.


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