METRO VIP OUT AND ABOUT

Dear reader, Who is Metro NZ Property Management, you may be asking yourself. The easy answer would be a twenty-one-year-old nationwide overly experienced investment and property management company based in Auckland, New Zealand. In honesty, this company is SO more than just that.  We are a group of people that have been in the business long enough to understand the needs and wants of people like you. We are all about values. We manage and invest in property with honesty and integrity and we will always have our client’s best interest at heart. Most of all, we are a family

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THE NEW INSULATION POLICY

Dear Reader, GOOD NEWS FOR ALL AROUND NEW ZEALAND: STARTING ON THE FIST OF JULY NEXT YEAR, INSULATION IS COMPULSORY IN ALL RENTAL HOMES AROUND THE COUNTRY. New Zealand is well known for the fact that most rental homes have minimum care about insulation, specially in the colder regions down south like Dunedin. The government of New Zealand has approved a new insulation policy which says that rental homes will compulsorily have underfloor and ceiling insulation, and it is coming in place on July 2019. Property managers are aware of the new changes and even though the policy will only

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MARKET TRENDS FOR PROPERTY MANAGEMENT

Dear Reader,   It is clear that as time goes by, society changes and with time their wants and needs also change. This post will explore what are some relevant global market trends for property management in 2018. The next twelve months will show a few changes in the field and the most relevant ones are as it follows.   Technology orientation According to R. Braun (2018), property management firms should be investing in more technology. Embracing the era of digitalisation and automation will mean that much more will be done faster and things will be done better. The rate

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WHY SHOULD YOU HIRE A PROPERTY MANAGEMENT COMPANY?

Dear Reader, As a landlord, managing your own property can be quite tricky. There is a whole lot of factors that need to be met, things that need to be done and or amended. Property managers are very aware of everything that needs to be done with a wide background of experience and a lot of answers and resources. Here at Metro NZ Property Management, we have twenty-one years of experience that will most definitely help home investors, be it your first time or not, to actually get the best value out of your property. In summary, according to R.

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THE NEW FOREIGN BUYER BAN BILL

  Dear Reader, December last year was filled with changes in the New Zealand Government. A bill that would amend the current overseas act was introduced to revise the Overseas Investment Act. The current act applies to  sensitive land, but not residential land. The new bill would fit residential land within the category. According to Housing Minister, Mr. Phil Twyford, the government is determined to make New Zealanders first time buyers able to buy their first home without the competition of foreign buyers. Our property managers have been working hard to make sure our clients get the best out of

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Tribute to 2017- from Metro NZPM managing Director

New years is coming! This Message is from Metro NZPM Managing Director; Merry Xmas and Happy new year to all our dear clients, investors, guests, tenants, suppliers, contractors, and BoB club network. 2017 wouldn’t be the same without you… In parallel with the above opening, more importantly I must also say a very special thanks to our champion team at Metro NZPM. In particular our executive leader team John Baatjes ( GM) and Layla You ( OM). The successes, the ups, the dawns, glories’, abundances, laughter’s, gains and losses wouldn’t be the same without this devoted team. I’m privileged and

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Auckland’s most expensive property is worth $180 million

The most expensive single property in Auckland is valued at a jaw-dropping $180 million and is owned by the company fighting in court to develop a huge section in Okura. Auckland Council has released revaluation figures for properties across Auckland, revealing the region’s house values have gone up 46 per cent to make the average Auckland home worth $1,076,000. In bare blocks of residential land, the 63.7 hectare property at 260 Vaughans Road in Long Bay, on Auckland’s North Shore, had the highest capital valuation of any property across the region. Valued at $180m, up from $113m three years ago, the property is owned

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Biggest leap in property valuations on Waiheke Island!

The Waiheke Local Board area has the biggest increase in property valuations in the Auckland region. Waiheke Island’s property valuations have risen an average of 66 per cent in the past three years, while the local board area has a 64 per cent increase. Auckland Council has just released figures on its valuations for 2017 that show a 46 per cent average increase across the region. The average value of residential property in Auckland is now $1,076,000. The values are based on the price the property would have sold for on July 1, 2017. Surfdale valuations lifted the most on

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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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