Category Archives: rent

Reasons why Renting might not be good for you…

Sept 15th 2015

Sub-title – “AKA Fergus is back in the news again**…”

Well I guess someone had to give it a shot one day, and it serves as a stark reminder of one of the number one reasons why a person should work hard to own their own property if at all possible. It means you have control, well that and the banks too I suppose. 14-09-2015 headline

Not exactly someone who shies away from a headline is he?

However on the other side of the coin is renting, and our ole friend “900 property Fergus**” has made headlines again in the ole dart this week with the news that Fergus is upping his rents by over 30%!! (And yes, you read that right.)

14-09-2015 up33

In fact he has already started doing it.

Not exactly unafraid of making political like statements, Fergus’s comment when asked why he has to increase rents….

“…he says landlords have no choice in response to budget tax changes that will slash the amount of tax that can be offset against mortgage interest paid. Many landlords are saying they simply will have to charge more rent. It is the distinct shortage of houses that is fueling the rent increases. If the government wish to control rents, it must supply more houses, and quickly.”

…should ring a bell with our friends across the ditch with regard to politicians bantering around taking negative gearing away.14-09-2015 again

 

 

 

 

 

 

 

 

 

 

 

Fergus loves headlines obviously. 14-09-2015 Offshore

And when the time is right, hes not afraid of a bit of controversy too. Fergus is looking to fast track his new strategy too… (as The Guardian reports…)

He will now be seeking similar rent increases across his property empire.

“I will not be asking them to leave but will serve them with a Section 13 Notice to increase the rent so that they have the opportunity to move to another landlord should they wish. That is if they can find a house of the same quality and a price they can afford. By the time they have paid out fees etc, some will take the view there is not much in it.”

Is he worried about it? Here’s his answer….

“He said a red-hot lettings market in Kent means he can fill houses within hours.”

Almost sounds like somewhere else doesn’t it? Michael Byrne over at the Irish Examiner sounded this piece of caution recently too…14-09-2015 global

 

 

 

 

…and writes an interesting piece, with a bit of background on the Celtic Tiger thrown in.

Perhaps its not much to be worried about, but I guess the same could have been said for Australias “Management Rights” industry once upon a time. Now players like Mantra are really taking a share.

Interesting times we live in….

** see previous post here on the “unique” man – especially if you want something to bring a smile to your face

Rental Market Prices in Nelson, New Zealand

Jan 8th, 2014

The latest New Zealand wide market rent statistics covering the period for 1 July 2013 – 31 December 2013 have been released.

01-2014 Stoke - Tahunanui

The first lot of figures above are for the Stoke / Nayland and general Tahunanui zones.

8-01-2014 Hills

Then there are the Tahuna & Port Hills figures above, and lastly….

8-01-2014 Nelson

This lot above represents the general Nelson city area.

If you are curious about what rent is in your area, or if you are looking at purchasing an investment property in another part of NZ unfamiliar to you, you can also check out the latest rental statistics here;

Nelson City zone

New Zealand wide

DATA SOURCE – Ministry of Business, Innovation & Employment NZ

Disclaimer – Re NZ Market Rent Prices

Nelson Home Prices really were stable in 2011

Feb 5th, 2012

During 2011 I mentioned the word stable or stability on numerous occasions when I was referring to the price of homes in Nelson.

Therefore at the end of the year, it was interesting to glance over QV’s stats released in January pertaining to homes sold in Dec 2011, but more importantly how those homes sold were placed, when they were compared to the same date 12 months prior.

Put simply, if you had invested your money into a average priced home in Nelson in Dec 2010, then by 2011 that property would , according to QVs data, have appreciated by a bit more than 2%, or $9123 by average sales price.

But (& yes Ms Kate “surname escapes me” Form 2,  1974, Otumoetai,  Tauranga, I know I should not start a sentence that way but its late…..) factor in capital appreciation…….and I mean “real” capital appreciation in a NZ wide sort of way, you can’t tell me…..you’re doing bad?

So even if you weren’t sure about living / investing in the region……I think I just helped you out.

Huh?

Over the last 12 months,  the median rental for a 3 bedroom home in Nelson was $355 per week.

See where I’m going, can’t you…..

Do your due diligence, and most certainly compare this to the situation with other regional parts of NZ?

I hear from the treetops…….I think there is more money to be made….X  and X and X…….

But (sorry Form 2 teacher) are you sure sure, on the stability front, your money is safe? If as I am sure most of my readers here are,you intelligently recognise the whole “supply & demand” situation_ then I am already raving on to the converted……sorry for that.

Don’t forget this is all based on just average pricing too, many have done better, and some possibly not so, but it reinforces the fact that our regions pricing does statistically compare verrrrry favourably with the big smokes.

So my message tonight….it is this

in NZ we have ups and downs…but wouldn’t it be nice to live somewhere where those ups and downs are minimalised, and in a way….constrained to the local environment?

Welcome to Nelson.

CHART DATA – www.qv.co.nz

Nelson Real Estate in the news January 2012

Stories, and there’s been a few, that made the news regarding Nelson real estate in the region over the last week…..

The Nelson Mail - 16/01/2012

Nelson Mail says Properties among least affordable – 16/01/2012

The Nelson Mail - 13/01/2012

…then just for the mix, the Nelson Mail reports City Property Values rise – 13/01/2012

…..but we also learnt of how you could buy a property in Nelson, how it is possible to get on to that “first rung on the ladder”

The Nelson Mail - 14/01/2012

with a Nelson Mail Saturday feature article entitled On the first rung.

If you’re looking to rent a property in some parts of the South Island, then you already know about these headlines.

The Weekend Press - Christchurch 14/01/2012

Perhaps these headlines are why “round the table” at this mornings weekly sales meeting, all agents were reporting a noticeable increase in investment buyers/ activity on investment properties this past week, especially over the weekend at Open Homes.

The Press Christchurch 16/01/2012

…..and while other South Island regions are reporting dwindling supplies of rental product

The Nelson Mail 13/01/2012

it would seem that rental ripple has reached Nelson now too….

And just perhaps, this explains one of the main reasons why everyone wants to live here…….

The Nelson Mail - 14/01/2012

is it because we have the Hat Back?

Click on individual photos for full stories mentioned.