Keeping you up to date with the latest property trends and insights, as well as VIP News and Market Update events.
There are so many elements to a classic Kiwi summer: beaches, baches, barbecues and … buying and selling houses. For just as the shrill cicadas hit their peak in February and March, so does the real estate market. Encouraged by the glorious weather, sellers and buyers emerge refreshed and revitalised from their Christmas breaks, ready to make the sale rooms sizzle.
Whether you’re a bidder, seller, or just plain curious, the auction room can be exciting, thrilling and scary.OneRoof recently answered all of the questions people are too afraid to ask in the auction room, and we have highlighted some of our favourites in this blog.
It appears Auckland is currently the perfect buyer’s market, with house prices down 0.1% in the July year, compared a 6.2% rise in the average national house price over the same period (based on REINZ’s latest report). Excluding Auckland, national house prices rose 8.6% in the July year, from $419,000 - $455,000. In Auckland there has been a $1,000 drop from $836,000 to $835,000.
With KiwiBuild’s pre-qualification stage due to open in the next few weeks, getting pre-approval from the bank is crucial to ensure you are prepared and first in line. While the Ministry of Business, Innovation and Employment (MBIE) says there’s no rush to complete the qualification stage, MBIE already received 35,496 registrations with people registering their interest in KiwiBuild, with 22,891 of those coming from Auckland.
Otahuhu began as a military settlement, until the 1900s where the cheap, flat land and easy access to roads made it a perfect heavy industry location. Today, Otahuhu is emerging into a desirable hub, with a brand new Train Station, Recreation Centre and the hottest new developments.
When you sign up to a mortgage, chances are you’re not thinking about how much you will eventually end up paying. Most people, at least initially, borrow over the maximum term available which is generally 30 years. However, so much can happen during that time, meaning it’s often difficult to work out exactly what people will end up spending on their mortgage.
It’s been an exceptionally cold winter, and if you are spending hundreds of dollars trying to keep your cold home warm there are a few things you and your family can do to stay nice and toasty without breaking the bank
Property prices in Auckland appear to be at turning point. What happens next is the $500 billion question. Scan the headlines and you’d think there were two Aucklands. One, a congested, overpriced nightmare, where properties are over-valued and the market is at risk of crashing. The other, one of the world’s most liveable cities, where economic strength, jobs growth and a positive urban environment point to an even brighter future.
Empty-nester baby boomers entering the over-65 ‘retirement’ phase of their lives with the kids off their hands are selling up their Auckland family homes in droves - downsizing into an apartment or cheaper residence in provincial New Zealand, and spending up large with the ensuing proceeds.
Much talk is often made in the media about ‘investors’ in New Zealand’s residential property markets reaping huge benefits – yet the focus of that headline-grabbing chatter is usually about just one potential aspect of a far bigger picture of opportunities… capital growth.
The newly elected Government has big plans to crack down on property speculators and overseas buyers, and to build more affordable homes writes Bayleys head of research, Ian Little. Buyer behaviour will change along with the types of development built over the next few years. Many purchasers will be faced with buying new versus buying existing properties and that will require a lot more understanding of how our property market is forecast to evolve.