Where to buy to catch Auckland’s future housing value gains

Buying into areas targeted as public transport hubs of the future is the smart move to benefit from Auckland’s booming housing values, experts say. The average Auckland home value has soared above $1 million for the first time, after Thursday’s release of new valuations by Auckland Council. The council has confirmed a 46 per cent increase in its valuations for residential property across Auckland as a whole. Andrew Bruce says if he bought an Auckland house today he would still be “reasonably confident” it will have gone up in value come 10 years’ time. While there’s broad agreement the Auckland housing market

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Wellington homes now even further out of reach for first-home buyers

Wellington house prices continue to climb as other parts of the country cool, pushing the cost of the average capital home up by $48,550 in the past year. The average asking price of a home in Wellington is now $528,200 – 10 per cent higher than it was a year ago. The figures, from the Trade Me property price index, also show a 5 per cent increase in demand, accompanied by an 8 per cent decrease in properties hitting the region’s market during the busy spring period. The combination is putting home ownership further out of the reach of many first-home buyers, and contrasts

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New Government’s policies could hurt housing market

House prices could drop as much as 10 or 13 per cent over the next three years, it has been predicted. As more details are revealed of the coalition agreement between Labour, New Zealand First and the Greens, commentators are picking over the potential policy impacts on the housing market. Infometrics chief forecaster Gareth Kiernan was already expecting a drop in prices before the new Government was announced. He said a slowdown in population growth and net migration would be exacerbated by the new Government. Prices could come off by about 10 per cent over the next three years.Investors had

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Serviced Apartment Management Available!

Airbnb boom: 20,000 listings and counting in New Zealand! We offer the management of similar type accommodation as well for a high-class luxury apartment. Higher turnover, higher revenue, higher return. See what our client said: Artem: The apartment is even better in reality than on photos. Equipped with everything you just can imagine (SKY TV, Apple TV, Netflix access, gas BBQ etc.) with pool access and parking space available. The building itself was completed in 2015 so the facilities are very modern and brand new. Around 15-20 minutes walking distance to Queen Street. Communication with Sarah was seamless and check-in as

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Capital’s rental drought sends rents to new high: Trade Me

Record-breaking rents in the capital have topped the $500 median for the first time, with rents around the Wellington region not far behind. According to January figures from Trade Me, the region’s rental shortage has boosted median weekly rents to a new record of $480 a week, up 6.8 per cent on a year ago. It was being pushed up by demand in Wellington city, where rents had jumped even more, to $520, up from $485 last year. Head of Trade Me property Nigel Jeffries confirmed Wellington had seen a sharp drop in the number of properties available for rent, with advertisements down 70 per cent from

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Rent growing faster outside Auckland, Christchurch: Infometrics

Rents have risen nationally by 5.5 per cent, an eight-year high, and gathering pace even more strongly in provincial areas. Infometrics chief forecaster Gareth Kiernan has run his ruler over tenancy bond figures during the December quarter compared to a year ago. He found the level of rent rises outside Auckland and Christchurch was up on average by 8.7 per cent. In particular, there were significant jumps in rent in the Waikato and Bay of Plenty, which at between 7.1 per cent and 11 per cent were the highest in 12 to 13 years. Rental inflation was at an all-time high in Thames-Coromandel and Rotorua, while Hauraki, Matamata-Piako and Taupo

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Is the Auckland property market stalling?

For the first time in five years, the Auckland housing market is showing unmistakable signs that prices are stabilising, and may even be plateauing. There has been a definite change in the market in the last month. In July, there were 383 Barfoot sales of properties going for more than $1 million, accounting for 47.6 per cent of all sales last month. Barfoot released commentary with the data from its chief executive Wendy Alexander. “For the first time in five years, the Auckland housing market is showing unmistakable signs that prices are stabilising, and may even be plateauing. There has

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Millionaire Auckland landlord reveals how he got rich

Mt Albert investor turns author to encourage others A former $17 per hour Auckland storeman who started out with only $4000 cash wants to tell others how to become multimillionaires via a new ‘how to’ property book – and any impending market downturn doesn’t worry him. Mt Albert man Jonathan Bidmead, 53, says he went from being a storeman in a Newton computer business to being made redundant, to now owning 14 Auckland and New Plymouth properties with 20 residences worth more than $12.5 million and generating just under $400,000 annually. By borrowing from a relative, he set himself on

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Christchurch rental market turns to favour tenants

Things are looking up for Christchurch tenants, with rents beginning to fall and more homes available. Rental agencies say tenants are able to be more choosy and landlords in some cases are dropping rents. The city’s average rent of $408 is down from $430 at the start of the year and back at late 2013 levels, according to the latest bond figures from the Ministry of Building Innovation and Employment.  The number of Christchurch rental homes listed on TradeMe has jumped from 600 to 1550 in a year. Bernice Ireland, head of Quality Property Management, said tenants had a choice

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Christchurch landlords lower rents due to ‘oversupply’ of properties

Christchurch landlords are being encouraged to lower rents and offer incentives to secure tenants as properties sit empty for up to a month. The city is facing an oversupply of rentals as earthquake-damaged houses are repaired, new houses are built, and more as-is, where-is properties are listed as rentals. Ray White Shelleys Property Management director Shelley Scott said she had to teach several property owners about realistic weekly rents over the last year. “When we go to re-let the property we find we often have to make adjustments.” She recently dropped the rent of a new listing in New Brighton from $350 to $320 a week. “I’ve got some properties sitting for a

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Who’s the winner?

  Hamilton Catches Up with Auckland Area’s property growth rateHamilton house prices have risen faster than Auckland Market since January this year. According to Stuff.co.nz, the price has been slow down for a short period during this year then it starts to head up again. As Hamilton is the most populous city of the Waikato region, it becomes a hot area for investors. With only one hour and half drive from Auckland, it also becomes a good choice for first home buyer to live.   According to the Statistics provided by QV, the growing rate of property market in Hamilton

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What Owners Should Know About the Planned New Earthquake Legislation in Wellington?

As the Building Act 2004 has regulated and set the definition of an earthquake-prone building, all building constructed prior to 1976 must be at least 34%of the New Building Standard within a given period. But after Wellington was hit badly by the magnitude 7.8 Kaikoura earthquake on November 14, the council’s disaster planners are looking to speed up the introduction of new building regulations. The council was worried about the resilience of the city and was considering this as an opportunity to improve the city for the future generation. The focus was on homes because it was known that Wellington’s

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The deadline for insulation and smoke alarm installation is approaching

As the Housing Minister Nick Smith has announced, landlords will be required to insulate and install smoke alarms for their rental properties before mid of 2019 to meet the new standard in Residential Tenancy Act to provide the tenant with a proper living environment. “Overall this package will see the biggest improvement in the quality of New Zealand’s older homes this decade than in any decade and it will see a half million New Zealanders, particularly those on low incomes, having a safer warmer and drier homes,” As Smith announced. The landlord will be fined for breaching the tenancy legislation up

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How to choose the right property manager

When choosing a property manager, there are a number of things you need to consider before selecting the person who will be caring for perhaps your most valuable asset. Will the property manager: Accurately appraise your rental property to quickly rent your property to quality tenants and keep your vacancy period to a minimum? Conduct appropriate background checks on potential tenants before offering your property to a tenant? Bad tenants can cost you a lot of money in the long run. Understand the importance of ensuring the presentation of the property is maximised to attract the right tenant, who in

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Why Kiwis are losing confidence in NZ housing

With increasing interest rates and soaring median house prices, Kiwis are losing confidence over their ability to fulfil their dream of owning a home. More and more people are being driven away from reaching this dream, according to ASB’s latest housing confidence survey. The average Auckland house was valued at $1,045,207 as shown by data revealed by QV this week. This survey showed 35 per cent of respondents think its a bad time to buy a house with only 10 per cent saying its a good time bringing Kiwi confidence to an all time low. “Since 1996, there has never

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