A tale of two Cities (Auckland vs Wellington)

May 15th, 2018 Market statistics Andrew Duncan

We have a somewhat interesting situation going on right now, where Auckland has well and truly become a buyers market, while Wellington remains the total opposite. One of the clearest ways to see this play out is by looking at inventory levels… Imagine if, as of today, no more houses came on the market in Auckland. Not a single one. Based on the current rate…

Wellington Market Update: Median sale price reaches record high…

Please note: Figures below are generated from REINZ stats and ‘Wellington City’ covers Tawa to Seatoun and everything in between… The big talking point this month… The median sale price for non-apartment properties (houses, townhouses and units) in Wellington increased to $744,373 in February 2018. That’s the highest median every recorded for that segment of the market. Just beating out November 2017’s high of $744k,…

North Shore median sale price jumps up 7.2% vs. previous quarter

Nov 15th, 2017 Market statistics Andrew Duncan

Supply and demand. It makes all the difference. Teachers have been preaching to us about it since 5th form but sometimes we just forget the basics. It’s easy to pick on the Auckland property market, I know I certainly have. After years of ridiculous growth, surely it was bound to endure a correction? North Shore City Median Sale Price, 2010 – 2017 How could prices…

Wellington median sale price up 8.7% – Market update, October 2017

Oct 14th, 2017 Market statistics, Tips for buyers, Tips for sellers Andrew Duncan

An extreme shortage of properties caused the Wellington median sale price to jump 8.7% in September. Read on to find out how this came about. But first… Uber sees 100% increase in new driver applications! An underwhelming 181 properties changed hands in Wellington City in September (based on REINZ stats). To put this in perspective, nearly twice as many properties (334) sold in September last…

Wellington real estate market update, September 2017

Sep 15th, 2017 Market statistics Andrew Duncan

What effect does the election have on the Wellington real estate market? REINZ figures show 210 sales for Wellington City in August. This was up 5% from the month before (199 sales in July) but down a whopping 27% from August 2016 (290 sales recorded). So volume is down… Quite a bit! To be fair, this is pretty typical, especially in Wellington where most potential…

Is now a good time to buy real estate?

Jun 6th, 2017 Market statistics, Tips for buyers Andrew Duncan

I see changing market’s everywhere I look. Reports from Wellington describe buyers being more judicious and increasingly tentative. Priced properties are attracting lots of interest but some Tender dates are coming and going with no offers being received. Meanwhile there are 51% more houses on the market in Auckland than there were this time last year, and buyers are harder to come by. Suddenly agents are chasing…

Should I buy a home in 2016? Is it still a good time to invest in real estate?

Apr 27th, 2016 Market statistics, Real Estate, Tips for buyers Andrew Duncan

Please note: I am not a qualified financial adviser and the opinions offered here are purely my own. It is critical that you seek professional advice from a solicitor before embarking on any property purchase. Read: Don’t buy a home without speaking to these 5 people first ————————————————- According to CoreLogic, average property values in Wellington’s Northern Suburbs have increased 8.7% in the last 12 months….

That home sold for how much?? (Recent sales explained – get the inside word here)

In a market where the majority of properties are marketed by Tender / Auction / Deadline Sale, it is critical that you become proficient in valuing property as quickly as possible, so you can: A: Avoid missing out on your dream property by pitching your offer too low, and… B: Avoid paying too much for a home you fall in love with. First up: Valuing…

How to Make Unconditional Offers… (Interview with Jenny Cheevers, Part 2)

How are some buyers able to make unconditional offers? Why does my bank insist I have a finance condition even when I have pre-approval? Why do I keep missing out to buyers who are unconditional? What does ‘unconditional’ even mean??? Our last podcast with local mortgage broker Jenny Cheevers was so popular we decided to do a follow-up chat. Listen to Jenny talk here about…