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April 15th, 2014

National MarketWatch (April 2014)

Posted in: Residential

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The average house in New Zealand now sells for $502,306, which is a record high, up 12% on the same time last year and 8% on October, the month LVR restrictions were introduced.

In Auckland and Christchurch the restrictions and rising interest rates are having little effect on the market, with high demand and competition countering any moderating influence of the Reserve Bank.

Provincial New Zealand is where the LVR restrictions have been felt most keenly, however even here they are staring to lose their effect, with the average price up by 10% in the Central Region and 5% in Wellington. Buyers now understand there are ways around the need for a 20% deposit and are seeking assistance from second tier lenders, family and credit card debt.

The disparity between the markets in Christchurch and Auckland compared to the rest of the country is best indicated by a comparison of …

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April 14th, 2014

South African Seniors Cash In – As Landlords

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As the cost of living continues to rise and eat into retirement savings, senior citizens in many of South Africa’s established suburbs are unlocking some of the value in their large family homes – not by selling them, but by renting them out, and then becoming tenants themselves in smaller, easier-to-manage properties.

“This emerging trend makes good sense for older homeowners whose own families are grown and who want to scale down anyway because of security or home maintenance issues, or perhaps because they want to enhance their retirement savings,” says Harcourts Real Estate Richard Gray.

“Such owners typically have a very small mortgage or no mortgage to pay any more and can achieve substantial rentals for their three- and four-bedroom family homes in sought-after, central areas, especially in the current phase of the market where rental demand is strong and rising.”

They get to keep their real estate assets …

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April 14th, 2014

Northern Region MarketWatch (April 2014)

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Residential data from New Zealand’s largest real estate group Harcourts shows there is still massive pressure on the housing market in Auckland and Northland, with the average sales price now sitting at a record high of $697,454.

This is up 12% on the same time last year and is a 9% jump on February’s figures.

It is very evident buyers are no longer hesitating about entering the market, despite LVR restrictions and rising interest rates.

There is an understanding that the market is likely to remain heated and prices will continue to rise for some time yet, as our growing population is not yet adequately catered for with new housing construction.

Across the Northern Region, and particularly in Auckland, there is fierce competition in the auction rooms. In Auckland almost half of all properties are now sold at auction and this figure is likely to keep rising. In a competitive …

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April 11th, 2014

Property Focus (Australia, April 2014)

PF-genericIn this month’s Property Focus newsletter (April 2014, Australia):

Buying Off the Plan: The ‘do’s and ‘don’t’s of buying property off the plan…
Market trends: Get all the latest property market facts from around Australia…
Kitchen Floors – Wood vs. Tiles: Learn the pro’s and con’s of the two most popular types of kitchen flooring…
Tips for Moving in the Rain: Useful tips for moving safely in rainy weather…
Read more here…

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April 10th, 2014

Property Management Focus (Australia, April 2014)

PMF-header-genericIn the April edition of Property Management Focus:

  • Tax Depreciation Schedules- Why sooner is better than later…
  • Where and Why to Invest in Australia in 2014 - Which suburbs are worth investing in now…

Read more here…

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April 8th, 2014

NAI Harcourts NZ Quarterly Statistics Jan – March 2014

Posted in: Residential

NAIAfter the traditional slow start in January and February, 2014 is shaping up to be a busy year for NAI Harcourts. Between February and March there has bee

n a 77.8% jump in the number of listings and an overall 17% increase on the Jan-March quarter last year.

Settled value for the quarter has also jumped 55.7% on the same time last year.

These figures are indicators of a strong economy. There is an optimism in the market, and stock is moving due to overall business confidence being at a 20 year high, says General Manager Michael Grainger.

Written volumes and values for the quarter are fairly consistent with last year, although there has been a spike in March, up 27% and 41% respectively on February’s figures.

Grainger says March 2014 has been the best month on record for NAI Harcourts, largely due to increasing market share. The sale of …

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