Archive for May, 2009
There has been a degree of confidence returned to the residential real estate market as indicated by April sales figures released today by the Real Estate Institute of New Zealand (REINZ).
Institute president, Mike Elford, said the figures reinforce a certain level of stability in relation to price and turnover, and are pleasing particularly as April is traditionally a slower month due to school holidays and seasonal adjustments.
Turnover of housing continues to strengthen from last year’s figures although slightly down in April 2009 compared with March totals.
“The figures are not hugely significant, but enough to generate a degree of optimism about the way forward from here,” Mr Elford says.
The total number of homes sold nationwide in April (6,210) is down on the March 2009 figure of 6,694 but still well up on the February total: 5,228. This compares with 4,450 in April 2008 which is a pleasing trend, Mr Elford said.
Turnover continues to be strong in Auckland where 2,081 properties changed hands in April compared with 1,350 in April 2008. Manawatu/Wanganui and Taranaki both saw a rise in the number of sales from March 2009 to April 2009: 283 to 322 and 166 to 188 respectively.
The median price for homes across New Zealand for April 2009 continues the slow steady growth recorded over the past few months. February’s $330,000 median figure rose to $335,000 in March and again to $340,000 in April. This compares with the April figure from 2008 of $345,000, which is a percentage drop nationally of 1.44 per cent. Read the rest of this entry »
One of the most exciting instructions ever secured by the Ray White Group was to advise the highly-regarded Blackmores health products group to resolve their property issues.
For years, they had been operating in a warehouse near Manly in Sydney. They had gradually added to the original building over the years – but those additions were always too small and never satisfied their complete requirements.
Blackmore’s asked Ray White Invest to fix their problem. It was the beginning of a magnificent relationship. First, we determined that their existing site would not be capable of providing all of the accommodation they would eventually require. A new site was found for them at Warriewood on the northern beaches of Sydney. We sold their existing building at Manly at the peak of the boom with the lease to Blackmore’s in place until the new project was completed.
Ray White Invest, under the leadership, of Kimmo Pitkannen, with outstanding support from Peter Walsh, took charge of the design process, organised the building contract and oversaw the complete process with the project now set to open. The contract price, negotiated, was a particularly keen one resulting in tensions between the builder and Blackmores all the way through construction as the builder vainly sought to recover lost margins.
Eventually, the project was completed with its opening this weekend. It’s appropriate to record the dedication of our Ray White Invest team. In addition to Kimmo and Peter, James Millward played a valuable role.
Ray White Broadbeach agent Michael Kollosche has again hit the headlines, this time with the $18 million sale of a beachside mansion on the Gold Coast’s Mermaid Beach.
The 1,395m2 property (pictured) with 32 metres of direct beach frontage was sold to Australian gaming king Bruce Mathieson, who has overseas a $1 billion pub and pokies empire with supermarket giant Woolworths.The six-bedroom, six bathroom, 10-garage prestige property was bought from former skateboard champion Stephen Hill, who paid $20 million dollars for the property in September 2006 and spent a further $10 million building the home.
Mr Kollosche, who sold the property for Mr Hill, said the Gold Coast market had dropped slightly because of the recession: “Prices have obviously dropped a little bit as they have everywhere, but people are starting to get on with it and transact,” he said.
Mr Kollosche, Ray White’s top international salesperson for 2008, has made a habit of targeting the exclusive properties that line Mermaid Beach with a series of high-profile sales next to his name.