Tag Archives: valuation

Slow local broadband can really knock a home price around

April 11th, 2014

The Telegraph in England has published an engaging topic, via data from Rightmove, arguably the UKs biggest Property portal.

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In the article, they contend that by not having fast/ultra fast broadband, then homeowners could potentially suffer up to a 20% reduction in their assets value.

They, Rightmove UK,  base this on…

“research it (they) conducted among among 3,000 people found that broadband details were ranked as a more important feature when searching for property than information on transport links and nearby schools.”

Makes for interesting reading, and even more so amongst the amount of #gigatown vibe out there in NZ at present.

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The “fuel guage” they use above is quite compelling too. What data should always be….easy to read and understand.

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Mind you, paying GB£5,000,000 you’d probably expect no less.

It certainly would aid any New Zealand area, including Nelson where hundreds already support the #gigatownNSN hashtag.

SOURCE – Slow broadband wipes 20% off house prices – The Telegraph UK

June 2013 Nelson Property Home Sales Report

Jul 8th, 2013

The Real Estate Institute of NZ (REINZ) has just released this afternoon nationally consolidated sales figures for properties sold NZ wide during the month of June 2013.

Nelson City saw its median steady at $351,000, to all intents and purposes practically the same figure as June 2009, nevertheless what took 47 days to sell back in June 2009, took just 31 days in June 2013.

Interestingly though, as above, although we are seeing June pricing staying reasonably steady, the data that does tell the picture is in the other two metrics. Over the last few years we have seen a mixture in the number of properties sold in Nelson City each June, but telling is the DOM figures. (Days on Market – aka Days to Sell) Junes figure, at 31 days, is the lowest for quite a while.

Nelson City sections sales were down on the usually increased transactions we have seen this year, only 5 changed hands. However some indication can be taken in the DOM figure here too at 78 days ….. in case you weren’t aware, locally that’s healthy indeed.

Ultimately the new REINZ Stratified Median Housing Price Index does indeed depict what is happening and why the RBNZ is talking up debate around increasing LVR levels in NZ.

The inventory issue is typically always reflected in the “weeks of inventory on market” figure, and in case you can’t see that on this chart, it goes like this, Auckland, Canterbury, Wellington, Otago, Nelson…

SOURCE – www.realestate.co.nz (NZ Property Report – June 2013)

Part of the reason why prices seem to still be on the rise, and as I have spoken about here plenty of times before, is its always about SUPPLY Vs DEMAND, and the chart below shows no improvement on that “supply” side.

SOURCE – www.realestate.co.nz JUNE 2013 NZ PROPERTY REPORT

In this months press release the Institute comment;

The REINZ Stratified Housing Price Index, which adjusts for some of the variations in mix that can impact on the median price, is 8.4% higher than June 2012 and eased very sightly compared to May. The Auckland, Christchurch and Other South Island Stratified Housing Price Indices all hit new record highs in June, with the Auckland Index up 19.8% compared to June 2012, the Christchurch Index is up 10.6% and the Other South Island Index up 7.3%.

(Emphasis added by me)

Important takeouts from this months REINZ summary were;

• 6,135 houses sold in June 2013, equal to the number sold in June 2012

• New median high price in Canterbury/Westland

• New National Stratified Index highs for Auckland, Christchurch and Other South Island

Locally, the Institutes Nelson representative commented;

The number of days to sell improved by six days compared to May, from 45 days in May to 39 days in June. Compared to June 2012 the number of days to sell improved by 16 days. Over the past 10 years the average number of days to sell in June across the region has been 44 days.

That was the month that was June 2013.

SOURCE – REINZ Press Release “Sales Growth Takes A Breather In June Real Estate Market” – 8th July 2013

Is Nelson Unique in New Zealand?

December 4th, 2012

Check out this chart that I have “borrowed” from the NZ Property Investors Association national magazine…

IMAGE – Courtesy NZ Property Investors Magazine

…and then tell me what you think? (Like all my pics, click on it it for higher res image – its easier to read for “boomers” like me.)

The stats come from Statistics NZ, but thanks to the NZ Property Investors Mag I don’t have to go there and compile them tonight.

Like usual though….if you wanna know more, or more importantly, want to know how to interept these stats in the context of our Dec 2012 Nelson real estate market.. …you know who to call.

2012 Nelson Rateable Valuations out….

November 15th 2012

Any day now you’ll be receiving a letter in the mail telling you about the updated 2012 CV (Capital Value) of your Nelson City property.

If you are curious right now though…. (re all images  below – if you can’t see them clearly, then just click on them to see full size versions)

 

..head on over to the Nelson City Councils “rates search” section and type in your address at the screen that looks like the one above.

If the councils search engine decides that it can’t 100% work out your address, it often times springs up a multiple choice like this one above.

Just select your address…..and you’ll be put through to the “rates screen” where you can see the CV components and rates for the applicable property.

You’ll also notice on this screen that the info under “Valuations” shows the Valuation Date as 1/09/09, the last time it was completed. On the first line below the big Rates word, you’ll notice the words I have highlighted above …. (Next Year – 2013 / 14) – click on this hyperlink and all will be revealed.

…and indeed you’ll also note that the Valuation Date is now updated to 1/09/12. Typing in a few sample properties today has returned pretty much what council mentioned earlier, increases in the magnitude of approx. 5% in properties CVs.