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…

So, you’re in a deadline… now what? (How to approach a Tender / multiple offer situation)

Everyone wants to negotiate directly with the Owner. It’s programmed into our Kiwi genes to want to start off low, see what the Vendor comes back with and maybe meet in the middle if it works for us. To buy a home any other way feels like a bit of a let-down: “We never got to show off our sweet negotiating skills!” In this market…

How accurate are Northern Suburbs Rateable Values right now?

According to Wellington City Council, new Rateable Values are set to be released mid November 2015. With that in mind I thought it would be an excellent time to examine the relevance of current RV’s. We are going to look at average sale prices compared to RV for each main suburb and tell you exactly what is happening out there. It is fair to say…

Is Wellington set for another property boom?

Good old Wellington, with it’s slow & steady real estate market that sets us apart from the rest of the Country. We don’t have the big ups and downs of Auckland but we truck along quietly in the background with house prices that seem to show so much promise but deliver so little capital gain (over the last 7 years at least). I started in…

Should you buy an investment property? (8 questions to ask before you jump in)

Apr 19th, 2015 Market statistics, Real Estate, Tips for buyers Andrew Duncan

So you’ve scrimped and saved and bought your first home, worked hard paying off the mortgage for a few years, and now you’re wondering – should we buy an investment property?  If so, where should we look? What kind of property makes a good investment? How much deposit will we need? Will the market tank right after we buy it? Should we buy a doer-upper?…

Churton Park real estate – a year in review

Dec 23rd, 2014 Market statistics, Real Estate Andrew Duncan

Here is an infographic we prepared with up to date insight into the Churton Park Real Estate Market and how it has performed over the last 12 months. Click here to view info for Newlands Click here to view info for Johnsonville Churton Park Real Estate – A Year In Review: Like it’s neighbouring suburbs, the Churton Park real estate market has also improved dramatically…