Category Archives: The Market

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

August 2015 Nelson Home Sales Results – REINZ Data

Aug15 chart Was a busier month was August 2015. This screenshot above is from data I compile monthly for my database* clients.

June saw Nelson City start with 398 homes for sale, yet by tonight, Sunday 13th Sept, that number sits at just 279. I believe they call it Supply and Demand folks.

Therefore its no surprise to see REINZ report this past week that … “Nelson/Marlborough recorded the largest percentage increase in median price compared to July with 3%, followed by Otago with 2% and Wellington, also with 2%”

Today I was in attendance at an the first open home of a new Stoke listing, and that by far, had the largest turnout of open home visitors I’ve seen all year. (Video above was of about 10minutes of the open, as I’d missed the busy first 10minutes because I was showing a buyer around the home)

  • – send me an email and add “Subscribe to Data” in the header if you’d like to get this sort of thing on the local market.

Now theres a novel thought…?

October 9th, 2014

In light of the serious ongoing discussions in the Australian Real Estate market over office charges, comes – well especially after the multi-billion dollar US Real Estate Portal merger… this below  statement.

2014-10-09_statement

There are plenty of voices over their who have a point of view on it too

Far from the worry some are mentioning is the fact that any such large spend will expect a payback….and everyone is bandying around 2014’s new catchword “disruptive” as a way of describing something that could be a game changer. Admittedly we here in NZ are more like Australia and the UK in our buyer / seller relationships, and this is quite different than the MLS centric situation the US finds itself in.

2014-10-09_worryornot

Well moving forward ….

Heres the article,

Makes you feel great to be a Kiwi … and having such forward thinking folk in our own industry, because years ago the NZ real estate industry already started down this path….

And it looks like its started.

2014-10-09_dejavu

… feels like a touch of “seen this before…..”

Reserve Bank of New Zealand makes a serious statement…

….and you know what….for once they don’t seem to be happy about the level of the NZD, in its current incantation!

Oh wow seriously guys…..

Anyway if you’re interested the statement is here

26-09-2014 NZRB stmt

and just in case you are wondering what Google are sayin’ (as at 9pm anyway) about this event which was “all over” the NZ media today….

26-09-2014 NZD say what

…actually am slightly stunned by there (“Googles that is”) lack of news about it….maybe the world really is changing and its looking like I can imagine what it feels like to live in China?