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,…

Will the owner get offended if I make an offer below asking price?

Mar 7th, 2018 Tips for buyers Andrew Duncan

I was recently quoted in an article on stuff by Susan Edmunds, titled: Properties typically sell between 2% – 5% of asking price. One of the questions asked was, “Do you risk offending an owner if you make an offer below asking price?”  I’ll share my answer further down, but first… A few thoughts on the sale-price accuracy question: The “asking price to selling price” comparison…

5 Questions to ask yourself before buying your first home

Jan 26th, 2018 Real Estate, Tips for buyers Andrew Duncan

Buying your first home is a damn big deal. Not only from a financial perspective but from an emotional point of view as well. Kudos to you for embarking on this journey! When buying with a partner, spouse or friend, the purchase of a first home represents a huge leap of faith in your relationship. On the other hand, if you are achieving the incredibly admirable feat…

How to guarantee a 5 star review on Airbnb (a guide for owners)

Jan 13th, 2018 Tips for buyers, Travel Andrew Duncan

In 2016, my Wife and I visited 21 Countries in 6 months while traveling around Europe. We stayed in countless Airbnb’s, usually for 3-4 nights at a time. Throughout our travels, we constantly found ourselves making comments like: “This place is nice & clean, but it’s so frustrating that it doesn’t have ‘x’.” The funny thing is, usually it was only tiny details that were…

Mailbag: When is it a good idea to make a pre-auction offer?

Nov 15th, 2017 Tips for buyers Andrew Duncan

In this weeks mailbag, we discuss pre-auction offers! Read on for tips, advice and a little-known clause that could give you a massive advantage when making an offer pre-auction. Question: When (is it a good idea) to do a pre-auction offer? This property is priced within its evaluation range 650-680 price indication. I’d really like the property, but the agent says (any) preauction offer would…

When is the right time to buy? Should you try to ‘time the market’?

Nov 13th, 2017 Real Estate, Tips for buyers Andrew Duncan

One thing stronger than our fear of missing out is our fear of making a bad decision. we become paralysed with indecision and anxiety when presented with too many choices. Isn’t it interesting how we get paralysis by analysis over something as simple as buying a vacuum cleaner, or deciding which hotel to book? You experience it on an even more intense level when you go…

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…

Q&A Mailbag: Should you buy an apartment as your first home?

Sep 6th, 2017 Tips for buyers Andrew Duncan

In this weeks mailbag, we answer a common question about whether you should consider buying an apartment as your first home. Email your question to property@andrewduncan.co.nz Question: “I found your blog whilst doing some research re. potentially buying our first home. I’m a firm believer in doing my homework, and in particular, getting an unbiased opinion… Hence, I was wondering about your thoughts re. our…

“On Work” by Kahil Gibran

Aug 9th, 2017 Tips for buyers Andrew Duncan

Some Wednesday motivation for all your hard working people out there. And a little bit of encouragement for those of us who fall off the wagon now and again.  I was recently introduced to this poem by Kahil Gibran (Author of ‘The Prophet‘) while reading the Hohepa ‘Wednesday Flier’ newsletter. It was reproduced paying tribute to their long time volunteer of 33 years, Robert Simpson….