Posts Tagged ‘real estate auckland’

Predictions about the future of the real estate market are as changeable as the statistics, but recent figures from the leading real estate group Ray White show that the Auckland market is tightening in favour of the seller. Figures for June and July 2009 for Ray White in the greater Auckland area show that the average number of days on market has dropped to 37.5 from 53 in January and February – a reflection of the reduced stock over winter and a growing pool of buyers.

The pressure is forcing would-be buyers to up the stakes: at the height of the property boom, in mid-2007, properties were selling for an average of just 2.1% below the listing price. As the slump began, buyers started to pick up relative bargains, with sales at an average of 8.3% below the listing price in August 2008. As the market has tightened, so too has the gap between sellers’ expectations and buyers’ hopes, with an average sale price of just 3.9% below the listed figure in July 2009.

The speed of turnover is reflected in the number of sales: the second quarter has seen a 25% rise in the number of properties sold in the up-to-$1 million range (4,781), compared with 3,815 in the first quarter.All this is happening, says Ray White New Zealand CEO Carey Smith, against a backdrop of ‘self-cleansing’ in the real estate industry. “The recession has prompted a significant decline in both agents and offices, with a turnover of agents in the market of 52% in the year to February 2009.

 Times like these demand a rise in the quality of service and results for vendors and buyers.”Ray White has responded to this demand with a new service, Ray White Concierge. The service, free to Ray White clients, takes care of all connections and disconnections of services, including telephone, internet, gas, electricity and pay TV. The service also offers helps with home loans through Loan Market, and  insurance with Sovereign.

The progressiveness of Ray White in the area of IT and customer usability has been in evidence for several years; the company was the first real-estate agency to list on TradeMe, in 2005, and each office has its own web presence.

“It remains an intensely competitive industry, and the quality of service and access to information is what sets agencies apart from one another,” Mr Smith says. “We have developed Ray White Concierge as part of our response to that competitiveness – after-sale service is extremely important and is an area where some agents fall down.”

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.

Recently the Auckland sales team came together for their quarterly awards at the Floating Pavilion.  Part of the evening was dedicated to the Premier and Elite members for 2009.  We welcomed our first Elite members for the year, having achieved this status at the end of June.   Pictured are Lesley Hawes (Kingsland), Liz Parker (Whangaparaoa) and Marie Raos (Howick).  The Elite status is the highest achievement in our company and these members continue to be outstanding contributors to the success of our company.  Lesley Hawes has been the number one salesperson in Ray White New Zealand for the past five years.  Liz Parker, who is based at our Whangaparaoa office, is the current number two for Ray White New Zealand.  Marie Raos, who has her business in the Eastern Beaches of Auckland, is a consistent Elite performer and has continually achieved the top 2% positioning in our company.  There are 35 members on target for the Elite status and they were recognised at Premier level throughout this week.

Ray White and Loan Market together at an Open Home

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’. 

Mark Te Whare

 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.

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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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 »