Posts Tagged ‘property’

As part of the 4th NZ Herald Property Report to be published on the 7th of March 2011 – Ray White has developed real time market reports through every area of New Zealand. To request your real time Market Review please email kashkettle@raywhite.com.

Please see sample report of the inner western suburbs of Auckland

Please see the add that Ray White place in the Property Report

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The first quarter reflected this confidence with 14,500 sales.  Our group market share hit a new high and this set a platform for what we felt was going to be a year that saw the industry return to better times.  In April the Government started to mute on the basis of changes to LAQCs and also personal taxation advantages.  Their dissertation behind this was to make property less friendly and steer people towards personal saving with the benefit of tax deductions and a higher awareness of Kiwi Saver. In the midst of all this came two interest rate increases.  These were minor but enough to move property into an unfriendly position and to again be questioned as to its value from an investor point of view. 

The second quarter plummeted. Sales were almost 30% down on the previous year and close to mirroring the numbers of 2008.  Our group was acclimatised to these conditions, but you got the feeling this was going to set in for some period of time.  In June we had our third interest rate rise which was enough to send the signal to the market that property sales were going to go into hibernation.  Most in the industry understand that to have buyers you need to have sellers.  Sellers come to the market when there is confidence that they can market their property to receive a satisfactory return on the price that they may have originally paid.   The lack of confidence from sellers then began to domino towards the buying market. 

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By Bernard Hickey

1. Personal tax cuts from October 1, 2010:
NZ$0-$14,000, currently on 12.5%, will be on 10.5%
NZ$14,001-$48,000: currently on 21%, will be on 17.5%
NZ$48,001-$70,000: currently on 33%, will be on 30%
NZ$70,001 and over: currently on 38%, will be on 33%

Work out your personal tax saving here

2. The company tax rate will be lowered from 30% to 28% on April 1, 2011

3. Depreciation:
No depreciation deductions will be allowed for buildings with an estimated useful life value of 50 years or more (such as rental and office buildings).
Businesses will no longer be able to claim 20% accelerated depreciation on new plant and equipment. This change will apply to assets purchased after budget day. The old rules will continue to apply for assets purchased before this date.

4. Working for Families
People will no longer be able to use investment losses, including from rental properties, to reduce their income and become eligible for Working for Families, from April 1, 2011.
New rules will also end the automatic CPI indexation of the abatement threshold to stop higher-income recipients getting bigger increases than those on lower incomes.

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The Ray White group is proud to announce the opening of the new Foxton office.

For further information please see New Offices tab

The Ray White Group has been in continued development of producing information for our own members that allows them to gain insights into the property market that will assist home owners in the marketing of their property. 

The ongoing development of this information has now seen our company being able to produce statistical data that can be directly applied to property in any area across New Zealand.  The grouping of this data includes price banding by percentage, the number of sales occurring in each suburb by sectors, the number of days on market, also the price differential between the listed and selling prices.  These are all important identifiers when you are considering the various concepts of marketing and also the buyer pool. 

Each Ray White office has access to provide this information to you. In our weekly updates we will be providing a suburb overview that gives you an indication of the current activity in various areas across New Zealand. 

This week we look at information coming from the inner west area of Ponsonby.  During 2009 there were 113 house sales with an average price at $957,409 with a further 25 unit sales at an average price of $451,945.  The best time of the year to sell houses is in April and October.  In 2009 the highest level of sales occurred in the price band between $600,000 and $800,000, totalling 44.   Ponsonby is one of the few markets that shows an upward lift in the sale price to the listed price.  This is mainly due to the fact that there is higher buyer competition and that many properties are submitted to the auction concept in this area.  Days on market continue to decrease, with the last quarter of 2009 showing 32 days for houses and 19 days for units. For the full market report on Ponsonby please click here Ponsonby Market Data Report 

For further information regarding this report please contact Ray White Ponsonby on (09) 376 2186 or email Simon Damerell  simon.damerell@raywhite.com 

To request a market review for your area, please leave a comment or contact your local Ray White office.

Herald on Sunday Lift out please click here

The Ray White Group are pleased to present, in conjunction with APN, our 44 page property lift-out that will be appearing in the Herald on Sunday this weekend 1st November 2009. This is the second of our feature lift-outs and has over 100 properties displayed on behalf of our vendor clients throughout New Zealand.  This lift-out also features properties from Vanuatu. 

Alongside the lift-out we present the Ray White e-book which is available for our agency business and their clients to distribute through to databases, family and friends.  Ray White prides itself on its ability to provide innovation in marketing and also to offer value through its various marketing mediums, including media, websites, property signage and our own internal client databases. 

The Herald on Sunday is the leading Sunday media and is distributed throughout the North Island with a readership of over 307,000.  

Our next Herald on Sunday lift-out will be published on 28th November 2009 and would welcome enquiries to be part of this outstanding opportunity.

Simon and Glynn Pritchett, husband and wife team at the Kohimarama office, manned a Ray White stand in Hall 9 at the Auckland Home Show which ran from Wednesday 9th to Sunday 13th September. Simon, a well known interior designer, has had an association with the show for over 18 years, and saw this as an ideal opportunity to not only promote his real estate partnership, but Ray White Kohimarama and the greater Ray White Group, including Loan Market. Up to 55,000 people attend this show annually and it is a great promotional opportunity for Simon and Glynn and to also promote a cross section of the office’s listings and services. Simon expected to make some good listing and buyer contacts and also to make a number of referrals to other offices as a result of enquiry.

Ray White CEO Carey Smith appears on NZI Business TV1 responding to recent changes in the property market.

Brent Sterm sold his first auction at 10 Martin Ave in Wakefield last Sunday. The street was clustered with cars, balloons were hanging from every letter box, and the profile for Grant Chaney and Ray White was huge. Prior to the main event a pamper package to Hanmer Springs Heritage Hotel and Hot Springs was auctioned with all proceeds going to the local primary school. Over 80 people attended the Auction for Brent Sturm’s first call as Auctioneer (Richmond Office Principle). Competition and bidding for the property was intense and it sold under the hammer. The Richmond, Stoke and Mapua offices have embraced the Auction culture and are currently running a Spring Auction Campaign for in-room Auctions on the 10th of September. Over the past 4 weeks the group have experienced fantastic results with their Auctions, with many property’s selling under the hammer. In fact, Mapua held 14 Auctions in one night. Last month the Top of the South recorded a 108% increase in sales turnover, owners Brent Sturm, Christine Cook and Mike Harvey attribute this to their Auction marketing.

The Loan Market continues their run of outstanding months in placing mortgages for our purchasers.  They completed just on 191 loans and our top broker for the month of July was Bruce Patten.  Scott Charlesworth who continues to have a great year, also had an outstanding month.  The leader of our Central North Island business based in Tauranga, David Hart, who in his own right is one of our top international personal lending managers, was not far behind.  The Loan Market team has 51 personal lending managers throughout New Zealand.  

With the changing environment in finance for home lending, the Loan Market are increasingly being utilised by the buyers within the market.  We would encourage you during this uncertain period with finance to consult with your local Loan Market personal lending manager to get the best financial information.