56 blog posts Filter

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% […]

Heartening news for home owners

June 29, 2016

Buying Market Selling

The continuing strong activity in the property market is heartening news for Hawkes Bay home owners which, like many other provincial areas, has emerged from a long eight-year period of stagnant economic growth and poor job prospects. There were 128 sales in Napier during May, which is 25% higher than the 10-year average. However, with […]

New tenancy regulations finalised

May 5, 2016

Buying General Selling

The Residential Tenancies Act Regulations about smoke alarms and insulation have now been finalised by Cabinet. The Regulations were developed in tandem with the other amendments to the Residential Tenancies Act 1986 that are due to commence on 1 July 2016. The final Regulations include (among other things) the following: INSULATION All residential rental properties will need […]

Catch up time for the region

May 5, 2016

Buying Market Selling

Napier’s turnover during March continued at a strong level with 123 sales – 11% above the 10-year average. However, the Napier market is becoming progressively tighter because sales activity of recent months has out-stripped the number of new properties coming up for sale. The total number of properties listed for sale in Napier is only […]

Kiwisaver withdrawals easier

April 29, 2016

Buying General

Building and Housing Minister Dr Nick Smith has announced that changes to KiwiSaver withdrawal rules for buying a home will make it easier for second-chance homeowners. Dr Smith today released the first full year results of the HomeStart scheme, which showed it has helped 11,943 people into their first home with grants of $55.6 million; […]

Daylight Saving checklist

April 1, 2016

General

Daylight saving ends this weekend when local standard time is restored. Remember to turn your clocks back 1 hour. Winter time (also know as “Fall Back”) means that sunrise and sunset will be about 1 hour earlier than the day before, so there will be more light in the morning. This turning point, is also an […]

Sellers benefit from price rises

March 23, 2016

Buying Market Selling

After a post-holiday lull in January sales turnover recovered in February with 125 sales in Napier and 120 in Hastings. This level of turnover is 33% higher than the 10-year average. The median price has improved steadily since September 2015 with the Quotable Value monthly house price index showing a 7.1% improvement in Napier during […]