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This Months Wellington Property Update

Property Update for October 2014

Headlines:

Your pre-settlement inspection when buying a property
Essential homework needed if you are planning to build
Wellington Regional Sales Comparison
Win Deluxe High Tea for 4
Recent Wellington Residential Property Sales

 

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PU 1014 HKuchciak

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Thinking of Selling? - Click HERE

 

Kind Regards,

Halina Kuchciak

Your Local Wellington Area Expert

Experience - Knowledge - Results

 

Last months winner was: B Gillan of Waterloo

 

 


 

If I Were a Borrower What Would I Do?

Fix or Float

I like the look of the three year fixed rate at 6.19% so would choose that for maybe 80% of my debt and fix the rest for one year at 5.99% as a low-cost slightly inflexible proxy for floating which would cost 6.74%. If you are a term depositor as I am, just be aware that there is strong competition between the banks for your cash so do what borrowers do and discuss what one bank is offering with another and see what response you get.

 

Thanks to Tony Alexander of the BNZ for his Weekly Comment 25/09/14

 

 


 

Looking out for your Interest

963935 mortgage and money 2

 


 

 
 
Non-bank lender RESIMAC has made a special commission offer to mortgage advisers. Find out what it is here.
Kiwibank has taken 20 basis points off its one-year fixed rate to bring it down to 5.79%. See how it compares here where we have sorted the table from lowest to highest one-year rate.

 

Click here for all rate changes

 

 

 

GoodReturns 24/09/14

 

 


 

 

Wellington Property Trends

 

Wgtn Trends

Residential property value increases continue to slow

The latest monthly QV Residential Price Movement Index shows that nationwide residential property values for August have increased 6.9% over the past year and 1.7% over the past three months.  This means they are now 15.8% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 5.2% and values remain below the 2007 peak by 0.8%.

The Auckland market has increased 11.4% year on year and values are up 33.0% since 2007.  When adjusted for inflation values are up 9.7% over the past year and are 13.8% above the 2007 peak.

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SEPT 2014 NZ INDEX

QV National Spokesperson Andrea Rush said, “Since September last year the growth rate of New Zealand residential property values has been slowing and this trend has continued over the past month.”

“Home values in Auckland, Christchurch and Tauranga are still increasing but at a slower rate than this time last year.”

“Hamilton and Dunedin home values have decreased slightly and Wellington values are continuing to show the downward trend seen over the past few months.”

“Sales volumes and home loan approvals are down year on year and interest rate rises, LVR restrictions and the upcoming election appear to be keeping the number of homes on the market low as well.”


Wellington                                                      

Residential property values in the Wellington Region are still showing a slight downward trend down 0.5% over the past three months and values across the region as a whole are up 0.9% since August last year.

Home values in Wellington City have decreased slight 0.2% over the past three months, as have values in Wellington Central and South, down 0.5%. Wellington West is also down 1.0%; while Wellington North and East values have remained the same.

Lower Hutt home values have decreased by 2.1% in the past three months and 1.1% year on year. Upper Hutt has increased 0.9% over the past three months and home values there 0.3% below what they were this time last year.

QV Wellington Registered Valuer, Kerry Buckeridge said, “Home values across the Wellington region as a whole are now 1.3% below the 2007 peak and the Hutt Valley remains well behind.”

“Seven years is a long time not to see any value growth and a key factor is that Wellington does not have population growth to drive demand for homes.”

“Currently there are historically low levels of stock in the market and low interest from buyers. The upcoming election is likely to be a factor and could mean people are holding off making property decisions.”

“The current generation of new home buyers seem to find properties in need of renovation unappealing.”

  “A full ‘doer-upper’ can still appeal to seasoned renovators’, but some first home buyers seem more likely to purchase a fully-finished apartment, than a standalone home that is in need of some work.”

 

 

 

 

 

04/09/14 QV

 

 


 

 

 

 

 

A Career in Real Estate?

Your Future in Wellington Real Estate

Welcome to Real Success.

Your Real Estate Career
A real future, in real estate for you.

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New to real estate? No problem.

Whether real estate is a new career for you, or you're a newly licenced agent, or an experienced agent looking for a change, we can help you.

For new agents ask me about our next Information Night, it might be just right for you.

For already licenced agents, we are experts in transitioning your current real estate business. With a full induction program as well as a customised strategic plan to grow your business to a level you deserve.

We offer personalised "joining incentives", to assist your transition.

For a confidential chat and to learn more about a real future in real estate, contact me today (Halina 021 22 63 917) or email me This email address is being protected from spambots. You need JavaScript enabled to view it.

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Let's talk today!

Halina-Final-CC - LR

For a confidential chat and to learn more about a real future in real estate, contact me today (Halina 021 22 63 917) or email me This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

 


 

 

 

Latest - Property Report Unconditional

Unconditional property report

Unconditional's Latest NZ Property Report - August 2014

Average asking of homes remains high

We have read through this Report and here are the Highlights:
 
> Asking prices in Wellington $452.362.
 
> Asking prices -0.4%.
 
> Wellington new property listings for July up 2.2%.
 
> Wellington Inventory is 21 weeks, with the long term average being 21 weeks.
 
August New Prop Listings
 
Look very carefully at the graph above and pay particular attention to May, June and July and see what happens to listings after July.
 
August Report 2014 - Inventory
 
Read the full Property Report HERE
 
Buyer demand in Wellington remains steady and looking at the top "listings" graph stock levels have begun increasing, so the smart bet is to beat the rush to the market and list your home or investment propertry with me today.
 
It is a simple supply and demand factor comming into play now.
People holding house money
 
Simply contact me for a free market appraisal today HERE and get things started.

 

 

 


 

 

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