Posts Tagged ‘property’

The number of people who think the time is right to buy a house continues to increase, even as expectations that prices will keep falling start to ease.  The ASB housing confidence survey for the three months to April, published today, found 59 percent of respondents felt now was a good time to buy, up from 53 percent in the previous quarter.  ASB chief economist Nick Tuffley said that during the past nine months those surveyed had become increasingly enamoured with the housing market.

The improved sentiment appears closely linked to the dramatic fall in interest rates in the past year, Mr Tuffley said.  “Housing is a New Zealand example of ‘green shoots’. Caution over the outlook for prices and the uncertain economic environment has started to be overcome in recent months.  “The early months of 2009 have seen positive views on purchasing translate into action: sales turnover lifted sharply through to April.”  It was likely the housing market was turning the corner, but a robust recovery was another matter.

“Many long-run fundamentals for the housing market remain weak, in particular prices remain high relative to both incomes and rents despite recent price falls,” Mr Tuffley said. “The cautionary messages for prospective buyers are to be realistic about the extent of future capital gains and to make allowance for the fact that mortgage rates will be higher on average in the future than the rates currently available.”

In the latest survey, a net 45 percent of respondents expected house prices to fall in the next year, while a net 30 percent expected interest rates to fall. While expectations of lower house prices persisted in the latest quarter, month-to-month results showed a very pessimistic start to the quarter but a swing to less downbeat views by April, Mr Tuffley said. During the three month period, there were also increasing doubts that interest rates would fall further. By the end of April responses were evenly split between those expecting rates to rise or fall. “The shift is no doubt in response to the sharp jump in fixed rate mortgages at the end of March.”

 

 

 

 

 

 

The Loan Market New Zealand consumer website  has been undergoing a major redesign over the past months and was released publicly overnight. The Loan Market New Zealand has 46 brokers faciltating 760 mil in lending per annum. 

The upgraded Loan Market website now includes -

Updated branding to the new International Loan Market logo

 Comprehensive menus for Home Loans, First Home Buyers, Investment Loans and Refinancing inclusive of  more extensive content.

 New user friendly mortgage calculators

 Full Loan Market overview including How Brokers Work section

 Prominent Contact Forms on most pages designed to collect real time consumer enquiry. 

 Enquiries are contacted within 2 business hours on a working day

 At-a-glance interest rate table displayed on all pages

 Real time interest rate guidelines on the front introduction page

 E Newsletter subscription facility

Site search facility

Please visit  www.loanmarket.co.nz

Tony Sheirlink of Ray White Browns Bay recently asked Stuart Matheson from the Loan Market North Shore to attend three open homes for properties he believed would have a lot of interest and the possibility of multiple offers. He was right!

The first property they received together, 5 offers on the Sunday night. Tony wanted them to have the confidence to offer their best offer, whether that was price or fewer conditions. The 2nd property, a deceased estate, and the 3rd an auction. Tony and Stuart are working together to have buyers in a position to bid on the day.  Stuart secured three appointments and also gave the buyer confidence as to what their preapproval meant, resulting in them making their offer unconditional.

Tony said ‘the vendor of the Auction property was really pleased with the Team approach and the fact Stuart was there  that to sell her property’ Tony added ’that it was a bonus as Stuart was around also helped with the overall security of the property’. 

 The auction spectacular will again be an unprecedented event.   For Auckland the  line up will begin in the North Shore on Tuesday 23^rd June at the Spencer on Byron (Takapuna), followed by West Auckland on Friday 26^th June at the Lincoln Green (Henderson) and Commercial and all other zones on Wednesday 24^th June at the Westin Hotel (Auckland Central). 

Mark Te Whare (pictured) will be the leading Auctioneer in New Zealand he has had a distinguished career in auctioneering and real estate. During his career in Australia he was recognised among the top five auction performers for North Brisbane and won a number of newspaper marketing awards. He has called more than 3,000 residential, commercial and rural property auctions, ranging in value from $96,000 to $16 million. He was also Named Ray White Queensland New Auctioneer of the Year in 2002  and was a finalist in the Real Estate Institute of Queensland Auctioneer of the Year Award 2007 and 2008.

We have now become a sociable network.  Increasingly networking has been taken online where people join together as friends or within a business network through two primary sites; Facebook and Twitter.  To enable our Vendors, Buyers and Group Members to have a social representation we have placed an icon on everyone of our properties on the website. It is a share and save button which has the ability to transfer property to an account owner of any social website.  

We are the first Real Estate company in New Zealand to offer this service to the broader online Real Estate community.  Added to this is our Streetview and the ability to have 80 photos of each property.  www.raywhite.co.nz  and the 125 local websites are cutting edge of the New Zealand property industry.  If you follow this link it will take you directly to one of our local website properties and we encourage you to run your mouse over the top of the share and save button at the left hand side of the screen.

The unprecedented success of the first Ray White Auction Spectacular in March this year means the landmark series of trans-Tasman super auctions is here to stay. Numerous desirable properties went under the hammer in 25 locations across Australia and New Zealand in events that attracted enormous media attention and achieved extraordinary success in a difficult economic climate.

Over 700 properties were listed for sale and excellent clearance rates achieved across the board, with NZ’s auction generating over $49 million in sales. The event contributed to an outstanding March, during which Ray White generated record sales of $2.57 billion!

The Auction Spectacular brings together the strength of every arm of the Ray White Group, including Residential, Commercial, Rural, Property Management, Loan Market Group and Ray White Concierge.

Any vendors sitting back or adopting a ‘wait and see’ approach are strongly advised to take advantage of interest rates at a 45-year low and plummeting mortgage rates. Strong buying opportunities combined with the fact that selling and buying in the same market generally procures the same net result, make now the ideal time to upgrade or re-locate, with the added advantage of capital growth as the market strengthens.

The stunning success of the first Ray White Auction Spectacular also illustrates that property auctions continue to offer many advantages over private treaty sale. Whether selling a home or commercial property, the auction process has been proven to be the most likely method to attract genuine buyers.

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Last week saw the staging of the Ray White Canterbury Annual Awards, recognising the achievements of those from the Canterbury region of New Zealand’s South Island.

2008 saw the Ray White add 4 additional offices in the Canterbury region

With a tradition of something different every year, South Island General Manager Kyle Pitman didn’t disappoint. The venue was an early 1900s church, which at one stage was close to derelict. The theme was for all to come together and conquer leadership in 2009.

Pictured is Ray White Joint Chairman Brian White with Ray White Lincoln principal Leanne Cocks, Ray White New Zealand CEO Carey Smith, Ray White Lincoln principal Steve Morgan, Ray White New Zealand South Island General Manager Kyle Pitman and Ray White New Zealand South Island Franchise Assistant Teresa Ford.

Leanne and Steve from Ray White Lincoln received the award for New Start Office 2008 in conjunction with Ray White Rolleston.     

Other top gongs went to Ray White St. Albans (Office of the Year & Business Growth), Kelly Cross (Supreme Sales) and Pip Nielsen (Supreme Growth).  Congratulations to the achievements of all our award winners.

 

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 »