April 16th, 2012
Earlier today, the Real Estate Institute of NZ ( REINZ ), officially released to the media their sales figures covering NZ for the month of March 2012.
In covering Nelson, the Institutes local spokesperson said that
The median price for the region increased by $500 compared to February 2012 and by $1,500 compared to March 2011. Nelson recorded the strongest overall price trend, followed by Richmond.
…..yet shared a balanced opinion by following up with
Sales volume in March eased back 2.4% after a very strong increase in February, although Motueka recorded a 23% increase in sales compared to February and a more than doubling of sales compared to March 2011. Nelson City and Richmond eased back, due to the strong uplift in February.
Overall….just like usual – steady as she goes. Like February, the number of transactions can certainly be described as healthy.
- REINZ Reported Sales Results – March 2012 NELSON REGION BREAKDOWN
……..like always on my blog….click above chart to enlarge
This past month, March 2012, in particular undoubtedly showed …..the unquestionable fact that Nelson, and to a large degree, Stoke….is most definitely “family central.”
CHART - WWW.REINZ.CO.NZ
Witness the incredible number of average family oriented properties being transacted in New Zealands favourite suburb, in the sunshine capital of NZ.
One thing of note was that DOM – Days on Market – aka Days to Sell figure….it was quite low in that critical 2/3 bedroom metric….hovering just under that 4 weeks datum?
If you haven’t heard me previously talk about the “steady as she goes” statement, then perhaps that’s just an admission you don’t come around here often. iOtherwise, my obviously “one eyed Nelsonian” view…..would by now, after over 750 article posts here, be commonplace.
Actually - historical data is all we've got when you come to think of it.......
That said, its still important, crucially important for me actually, to back those numbers up.
And nothing enlivens that to me than figures & charts, so about now…..the obligatory chart above.
This one above illustrates precisely what I have been saying, Nelson….. property prices are stable, they aren’t the cheapest in NZ for sure, but they are in that “middle of the road” zone, and crucially….they are STABLE.
April 16 2012 | Buyers and Nelson and New Zealand and retirement and Sellers and Stats / Sales Data and The Market | No Comments »
Tuesday, 10th April 2012
After yesterdays post, I have been contacted by 3 nay-sayers already.
No, it seems they won’t go public in the comments section, they prefer to email me, on a semi – anon basis to say that because Nelson prices are so high, that’s exactly why they have seen a couple of For Sale signs on some properties around town…still there for a few months now.
Well, I know the facts, and let me tell you…..they most definitely contrast with what these folk are trying to tell me.
So about here, I thought it’d be handy to find a stat that may enlighten these questioning cynics. (I know whats happening on the ground…no doubt about that – but it seems all of them have to see it somewhere in “black & white.”)
Actually I didn’t have to look too far, nor too far for very current & relevant figures. Cue…the regional inventory statistics…from just last months NZ Property Report, published just last week on www,realestate.co.nz .
Data - www.realestate.co.nz April 2012
The what?
Each month, New Zealands leading property website, www.realestate.co.nz, publish the NZ Property Report, and typically it presents itself on line on their site on the 1st of each calendar month.
Yes, amongst many other topics, it talks about up and downs, it talks about the number of new listings each month (aka the so called supply & demand situation) by region, etc…..but, crucially one of the most important metrics, and one that is most definitely a “market based one” is that of the DOM.
In plain english “days on market.” In other words how long a property would characteristically be on the market, prior to an unconditional Sales & Purchase Agreement being confirmed, .aka SOLD.
In case you are wondering, in the commercial market this is taken as a “GOLD” measuring stick to a towns viability.
All I can say is next time, for the sake of your credibility as a valuable property real estate critic / commenter, and one to whom the public should be introduced, please make your voice heard in my comment section. That way everyone gets to know your thoughts….and I have to answer.
April 09 2012 | Buyers and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
Monday 9th April 2012
The NZ Property Report covering March 2012 was interesting reading last week. One thing it did highlight was that Queenstown / Central Otago Lakes still has NZ’s highest seasonally adjusted asking price for a residential property.
They were closely followed by…..no guesses here….. Auckland.
However sitting back, in so called bronze place was another town in NZ, with way less than even 10% of the population of Auckland, and that part of NZ was, my home.
Yes, the Nelson region it was.
March 2012 - NZ Asking Prices (CREDIT - www.realestate.co.nz)
As the chart above depicts, it sure does re-enforce the popularity of the region, and yet again confirms why this issue of Nelson region property pricing dominates local “headlines”, as depicted here in the media earlier this year?
Just to reassure, can there be other reasons?
Well possibly….
1] Are we a growing region?
2] With all this up/down motion, is there any stability in Nelson home prices?
3] Population wise, not being a capital city or so, what about the future for house prices in Nelson?
4] David, could there be any other reason to explain why Nelson is so popular?
5] Our main beach, Tahunanui Beach, is one of NZs most popular.
6] On the whole, Nelsonian residents live closer to the sea, than any other place in New Zealand!
You can view the complete NZ Property Report for the whole country online - HERE.
April 09 2012 | Buyers and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
At least three local companies are offering “you pay for your feature advertising in the weekly press/paper” and then, …..”when the property sells” we’ll refund you what you spent.
And, what – after a typical 3 mth agency, if the property doesn’t sell, and the property owner has spent $2 ~ 3,000??
.....truly folks, would you REALLY want your photo amongst this lot?
Really good advice to you Mr/Mrs Seller. here….is BEFORE you list your property……visit your local property press / media weekly advertising medium and ask yourself this question………
Prefice the situation depicted above! ……as in, would I really like my property to be one featured on this sample 2012 Nelson page????
Ask yourself….
How did half the properties on that page get themselves into that situation, because I am sure there are at the very least, 4 (well from this Feb 2012 page at least) pretty unhappy campers (all with their very own personal stories) who were told an appraised selling price of $x…but now…for some reason 4 out of 8 of them are experiencing something they don’t want to.
Well you have decided to go to market at $XXX, but now…hmm looks like the table is turning. Make sure you don’t get caught like this is all I’m saying?
And around about now……. such a normal property owner would more than likely be thinking, even seriously considering……….hmmm, this hasn’t worked out so far has it…….just like any normal human would think…….I think I want a change……what to do next?
Change agencies, surely that’ll give the product a very practical & important refresh, a new platform, new attention, different focus / audience / positioning and perhaps in to the bargain….a newly enthused team of agents, etc…..BUT WAIT……there is just this simple matter of thousands of dollars already spent….”and if we change agencies”….well, we won’t get a cent back….will we??
Well what you have just stated is exactly the intention of someone trying to get you into a “contract period” by this method. Think about it?
I could go on for paragraphs about this, but I won’t because like last time………there is the chance that it would be deemed “unprofessional”……and just like last time…….the local paper will pick up on it….and yes, again, just like last time…….I’ll be in a mighty lot of trouble with real estate company directors!
No, please sellers, think thrice before you commence an agency contract based on this type of strategy.
Our company “DaySheet”, the daily “bible” sheet distributed to company offices/sales people shows that yesterday, Summit in the Nelson region (whom I am an independent contractor for) had 10 properties go unconditional on the one day (yesterday 27th March 2012) …… add into that my 2 unconditionals from today, and we have at the very least, 12 SOLDs in 48 hours.
Don't forget the "team".....
(Perhaps, in our companies case, it could be suggested this type of result amply demonstrates the “power of the team” ….but that sounds kind of simplistic without trying to make it sound that way…..and that’s just my own personal opinion showing through anyway)
Surely a seller should do one thing up front, invest more time in selecting an agent / co to assist with aiding them to get the best premium possible for their, in most cases, most expensively prized asset that they possess …….than (well I’ve seen this in real time) they would typical invest in buying a microwave or big screen LED TV?
And that folks …… that is all I ask.
IT’S TRULY IN YOUR (& YOUR LOVED ONES) OWN BEST INTERESTS.
UPDATED
Serendipity strikes tonight – here I am reading the local paper online at 10:30pm ….and look here.
March 28 2012 | Buyers and General and Nelson and Sellers and The Market and Uncategorized | No Comments »
March 16th, 2012
Two days ago the Real Estate Institute of NZ ( REINZ ), officially released the sales figures covering the month of February 2012.
In difference to last month, Nelson was mentioned in their covering statement.
Nelsons mention was in that it followed the Canterbury region as having the shortest “days to sell” period of the 17 regions.
Here’s what the Institute reported;
Canterbury/Westland recorded the shortest days to sell at 35 days (-4 days), followed by Nelson/Marlborough with 37 days (-20 days) and Auckland with 38 days (+1 day).
A very healthy number of sales were transacted also.
........click to enlarge
The usual large numbers of “family oriented” 3 bedroom properties were joined by a “pick-up” in the number of 2 bedroom sales.
In the month prior, the “days to sell” metric on 4 bedroom properties doubled to 87, however the number was just 1 up on Jan sales at 13 units. There was also a median increase from $455,000 up to $467,000 for these 4 bedroom dwellings.
In contrast to the four bedroom situation, the situation with the 5 + bedroom (albeit a small number) solds, was almost the reverse. In January the days to sell figure was 63 compared to 26 in February.
Overall a month depicting as it was on the ground, quite busy both in terms of seller activity, and also buyer activity. On the buyer front it was notable, and Open Home registers certainly show this factoid out, the amount of “out of town” buyers visiting, and wanting to spend their money.
Quotable Value NZ have also just released their nationwide “Property Valuemap” covering Feb 2012, the chart above shows that Nelson is still holding steady… you can read the full report over at QV by clicking here.
March 16 2012 | Buyers and Nelson and New Zealand and Sellers and Stats / Sales Data | No Comments »
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