62 blog posts Filter

More restrained growth expected in Napier

August 28, 2018

Market

The availability of property for sale is at an all-time low in Hawkes Bay, and in July this has shown up as a 14% drop in the number of sales to 98 in Napier and 105 in Hastings. The imbalance between demand and supply continues to exert upward pressure on prices, as active buyers face […]

Don’t hesitate for the right home

August 22, 2018

Buying

In the current market, where there are favourable financial conditions and limited choice of property for sale, buyers who hesitate excessively are missing out. Whilst we would never suggest you let yourself be pushed into making a hasty buying decision, if you find the right home, don’t hesitate to buy. The right time to buy […]

Tame your Mortgage!

August 14, 2018

General

Financial stress is horrific. It tears families apart. The most important financial question to ask yourself, BEFORE you buy a home, is: “What’s the worst that can happen?”. Interest rates are low now, what if they rise? What happens if you buy based on two incomes and you lose one income? Think of the future, […]

The property cycle turns slowly

August 6, 2018

Market

It is generally accepted that the real estate market moves through an irregular but recurrent pattern. The Property Cycle shows four distinct phases: boom, slow down, slump and recovery. Each phase is characterised by indicators which measure “key drivers” that collectively propel the market through the various phases of the Property Cycle. These drivers tend […]

Winter’s a hot time to sell!

July 30, 2018

Selling

Frequently we hear ‘would-be’ home sellers saying they want to put off their plans to sell until spring. They think that because the house presents better in spring, they’ll sell better then. Because of this type of thinking, the number of homes for sale can vary from one season to another. Interestingly, demand from home […]

Napier holds top spot for growth

July 22, 2018

Market

Recent data from Quotable Value shows that none of the real estate markets in New Zealand’s main centers have grown by more than 0.5% since May. The regions, on the other hand have continued to perform strongly, and Napier holds the top spot with an annual growth consistently exceeding 15% for the past two years. […]

What the law expects

July 17, 2018

Selling

Most real estate agents don’t deliberately set out to break the law. But it happens. As a real estate consumer, you should understand what the law expects, and here are a few specific matters of interest: 1. Extra benefits for the salesperson Many real estate companies offer their salespeople incentives for listing a property with […]

Should I rent or buy?

July 4, 2018

Buying Selling

A week ago one of my sons moved into his first home. What a fabulous achievement! Home ownership is a dream for many. The most important consideration before you buy is affordability. In spite of recent price rises in our area because of the low cost of borrowing, home affordability in Hawkes Bay is amongst the best […]

The value of success . . .

June 25, 2018

Selling

One of the most important tasks for sellers is to determine a realistic value for their home.  Many elements combine to create unrealistic expectations – sometimes it’s uninformed opinions; the need to recover the cost for improvements made; or the need to fund future plans. To help understand some of the key principles of correct […]

Should you buy before selling...

June 25, 2018

Buying Selling

Home sellers are often confronted by the anixous question. What if they sell quickly and have nowhere to live? In the past, moving home went like this: a. Find another home you love; b. Buy that home, subject to sale of your existing property or by using bridging finance; then c. Sell your current property. […]

One Queen - Two Birthdays

June 6, 2018

General

Have you ever wondered why the Queen’s Birthday is celebrated in New Zealand on the first Monday of June, when her 92nd birthday was actually on 21st April? You’re not alone –last week my son asked me about this. Her Majesty is one of the few people who celebrate two birthdays – a real one […]

Hawkes Bay - an attractive destination

May 31, 2018

Market

Population growth has been a significant factor driving up the REINZ House Price Index for Hawkes Bay which has continued its recent surge, growing at a rate of 18% over the last year compared to 3.8% for all of New Zealand. This growth represents a degree of “catch-up” to narrow the unsustainable wide price differential […]

Hawkes Bay market still playing catch up

May 17, 2018

Market

While affordability constricts the Auckland home market, regional housing markets like Hawkes Bay continue to play catch up. This is reflected in property values continuing to rise. The horticulture, agriculture and tourism sectors of the local economy have performed well within the region and this has helped fuel buyer demand, as have low interest rates […]

When is the best time to sell?

May 2, 2018

Selling

All homeowners want to know the best time to put their house on the market. There are two answers. One answer is obvious, the other isn’t. The first, is that you should sell when you get the right offer, regardless of how long your property has been on the market. Obvious, right? But a lot […]

White ANZAC crosses in Napier

May 2, 2018

General

A field of over 200 white crosses in Napier’s Memorial Square is a stark reminder of local lives lost in action during World War I. Generations later, this loss of life and innocence is still felt by families and friends. ANZAC day commemorates all New Zealanders killed in war and honours our returned servicemen and […]

Napier housing market slows over holidays

February 19, 2017

Buying General Market Selling

During December and January, sales plummeted 33% to 82 and 87 sales respectively as the Napier housing market showed signs of slowing. This was partly due to the holiday season, but more significantly as the Reserve Bank’s prudential policies started to have their desired effect. These restrictions are two-fold: investors across the country now need […]

Dust settles on housing market

November 23, 2016

Buying Market Selling

Sales volumes in the Napier Housing Market eased back to 106 during October which (apart from a surge between February and May) is 5% less than the average annual turnover. This easing is in response to the new Reserve Bank lending restrictions, which came into effect from 1st October 2016. These restrictions are two-fold: investors […]

Supply limits turnover, pushes prices

September 27, 2016

Buying Market Selling

It’s been a while since we’ve reported that the volume of sales in a month in 2016 was significantly less than in 2015. That’s the case in August 2016 (26% less than 2015) and July 2016 (24% less than 2015). Rather than demand, the primary reason for only 95 sales in August is related to […]

Daylight saving begins

September 24, 2016

General

Daylight saving begins this weekend when Summer time starts. Remember to turn your clocks forward 1 hour. Summer time means that sunrise and sunset will be about 1 hour later than the day before, so there will be more light in the evening. This turning point, is also an opportunity to take care of a some biannual tasks around […]

Turnover peaks, prices plateau

August 5, 2016

Buying Market Selling

Sales turnover in Napier peaked between February and May 2016 easing back in June to 105 primarily due to constraints in the availability of homes for sale. During the past year 37% more homes have sold than in the previous 12 months. The portal realestate.co.nz shows that the number of new listing fell by 10.9% […]