Archive for November, 2011

Home Values, a bit like Coronation Street?

Nov 27th, 2011

Stoked by a suburb? Well yes, as a matter of fact, in Nelson, you can.

As the ITV cameras pan in at the beginning and again, out at the end, you used to see what looked like rows of little boxes on the hillside of Coronation Street. Many many identical little boxes. Something that must surely have made a local Valuers job just that little bit easier back then.

Guess what, Nelson in one way, has something similar.

Not exactly in TV terms, with debatable neighbours, but most definitely from a Valuers perspective.

See, the area local folk know affectionately as “Poets Corner”**, it just about presents that same Coro St equivalent property valuation opportunity.

A large subdivision that was developed & populated in the 60’s, and early 70’s it was quite unique in Nelson terms.

Why?

The why is because, picking a few streets here for example, in this instance Marlowe, Kipling, Tennyson & Dickens, I come up with the figure of 60.8% of the properties that had an identical section size, generally rectangular and always at the same 607 m2. (for those of you statistically inclined, that relates to 110 out of 181 stand alone housing sections in total ) In addition to that, another 15 had a slight 10% bump up, up to 647m2…so to be fair, they could almost be lumped into together in the scheme of things anyway. ( I suggest 125 out of 181 here)

Of these homes, well they were mixed, stucco/roughcast, weatherboard along with a bit of  the usual mixed material construction, again pretty standard fare for the times, but typically of the 110 ~ 125m2 in floor area size, all built in that same short period.

Time to bring you up to date with the suburb of Stokes importance in New Zealand, so I draw your attention to this prior news.

1. Stoke, by the official stats, post GFC , simply New Zealands best performing suburb.

2. Stoke, voted New Zealand top place to live, for the people, by the people!

And the local news, prices for homes in this Poets Corner zone of Nelson have doubled every 10 years in recent memory.

That means that they were…..

In 1975 – $30 ~ 35,000

In 1985 – $70,000

In 1995 – $140,000 (this is really an average decade price b/c the 90’s were, to put it mildly,  a trying^^ time for real estate prices in NZ)

In 2005 – $280,000 (well actually a year or two before this date in reality, because by 2005 most were more like $285,000 ~ 295,000)

In 2011 – $ approx $320-330,000.

In 2015 – $560,000??? ( hmmm….interesting)

Put simply, the figure for 2015 as an average (“median” perhaps), well it has my head spinning?

...a past listing of mine from the "Poets Corner" area

So the good news is that because we have so many similar style / size / year built homes on exactly the same size sections, we do indeed have a great local property valuation tool. It also reinforces that Stoke home prices have kept their value almost better than anywhere else in NZ over recent years :-)

There’s a good chance in 4 years time I’ll be eating my words, my hat, whatever…….but any which way, it sure will certainly be interesting around about January 2016 summer BBQs , any discussions regarding “the past” in terms of real estate prices.

Be that as it may, history has shown that investing in real estate in Nelson is certainly not an unsure thing. There’s a track record there.

 

** called Poets Corner because of the following street names…..like  Marlowe, Kipling, Tennyson, Keats, Browning, Dickens, Shelley, Barrett, Coleridge, Wordsworth, Masefield, & Rosetti.

^^ – plenty of examples depicting folks that brought a property in 1991/92/93 sold it for the same price or even less in 97/98/99

RELATED – Beaut suburb is stoked at being NZ’s top place  - Nelson Mail 10th Oct 2010

 

 

 

 

 

November 28 2011 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | 1 Comment »

Exciting times down south….

Nov 24th, 2011

Why?

Well on account of the fact that southern residents between Christchurch & Dunedin will hopefully receive an envelope in the mail from the Timaru District Council by weeks end, detailing their latest CV.

Obviously you too can see from the above QV chart ( I’ve taken the liberty to highlight parts) they’re not the only ones due some important notification.

Timaru is kind of dear to my heart, and yes in case you are asking there is a good reason. As a Mainlander, I was born down there.

David, what has this to do with the Nelson region I hear you ask?

Well… just check the chart above and you’ll quite quickly notice that the last line on the above Quotable Value chart does indeed have a heck of a lot to do with my region, some would say 50% to do with it.  Any which way, locally…..well we’ll know in a week or two those amongst us who feel justified…or otherwise.

Check out Quotable Value NZ’s Property Map above covering October 2011, just published by www.trademe.co.nz above. Do you notice a NZ Regional zone that happens to have the most stable housing prices, one which aligns itself the closest with the New Zealand median?

(hint – look on the left-hand side about mid way down)

 

November 24 2011 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | Comments Off

Real Estate Agents, your “Floor Plan Drawing” ship just came in…

Thanks to Larry over at the PFRE blog for alerting me to this one.

Agents now have one less reason why they should not be including floorplans with their web listings, or print out brochures.

You really need do no more than watch the intro video to see how this app called “MagicPlan” works.

Only for IOS and iPhone at this stage, but Android users should get their own version in about 6 mths.

Larry mentions;

The final floor plan is free for non-commercial use (includes a watermark) and $1.10 USD for commercial use (with the watermark removed).

Oh and did I mention, the app is free to download.

Century 21 in France are using this already...

And just in case you are wondering “where can this lead….?” check out what this French company are already doing with it!

SOURCE – http://photographyforrealestate.net/

 

November 21 2011 | Buyers and General and Sellers and Technology | Comments Off

What exactly is Median Price anyway

Nov 18th, 2011

I’m sure you’ve heard the term on the TV news,

…..and more than likely read it when browsing over the newspaper reports about monthly sales.

So exactly how are they calculated?

Well, good news, because with the help of Bank of NZ’s Chief Economist Tony Alexander, the Real Estate Institute of NZ (REINZ) have decided to help you out by offering an explaination, using Auckland as an example.

Click here to head on over to the REINZ site to bring yourself up to speed on this important statistic.

November 18 2011 | Buyers and General and New Zealand and Sellers and Stats / Sales Data and The Market | Comments Off

Renovating in NZ – start here

Nov 16th, 2011

Inner suburbs of most New Zealand cities & towns are made up of predominately older dwellings. The ripple effect in a chronological sense.

Although many sit on sites that are often designated as “ripe for development”,  the trend of renovating older homes, whilst maintaining the exterior style sure shows no signs of abating.

SOURCE - www.renovate.org.nz

New Zealands BRANZ have stepped up to the plate and developed a comprehensive website just for renovators – www.renovate.co.nz

Welcome to Renovate – the technical resource for industry on the renovation of houses from different eras.

If you’ve watched too many episodes of “The Block” to remember and perhaps are thinking a “reno” is in your future, then this site is very handily compartmentalized into the following sections;

Villas

Bungalows

Art Deco period

1940s – 1960′s

1970s

Sections covering project planning and regulations /compliance also aid those who may not have traveled this path before.

Check it out at Renovate.org.nz

While you’re at it, you should also check out the handy online versions of the bi-monthly “Builders Mate” magazine,  written for builders. Who knows, you might pick up some handy extra tips or advice there too.

November 16 2011 | Buyers and General and New Zealand and The Market | Comments Off

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