C21 Premier Property Magazine - September 2023

C21

Nestled in a peaceful cul-de-sac and quiet neighborhood, this stunning family home offers a harmonious blend of modern living and timeless charm. Act fast – your dream home awaits at 9 Truscott!

TIM

027 449 5547

CHELTENHAM

Secure a new executive home located on a private rear site just a short walk to the Public Hospital and just 2km from The Square. The plans are Council approved and construction can commence as required. CORRINNA

021 136 3273

FOR

1469 Kimbolton Road

Introducing the Cheltenham Hotel: a historic and iconic pub in Cheltenham, Manawatu. This stunning property offers a unique investment opportunity in the thriving hospitality industry.

ANDREW PUGH 027 446 3870

TIM KEARINS 027 449 5547

FOR SALE $980,000

BUNNYTHORPE

347 Campbell Road

This charming 1900s character home is located on an established lifestyle block, just a short drive from Feilding and Palmerston North. It’s perfect for first home buyers or small families, with plenty of space to add value.

ANDREW PUGH 027 446 3870

GOING ABOVE AND BEYOND FOR OUR VENDORS

AM LOOKING TO SELL MY PROPERTY. WHAT ARE THE MOST COMMON MISTAKES, AND HOW CAN I AVOID THEM?

BY KEVIN KELLIHER, CENTURY 21 PREMIER

Selling your property requires a strategic plan. It is critical for you to avoid making common errors. As an agent with thirty years’ experience these are my recommendations to avoid the potholes.

AGENT SELECTION

Choosing the best agent for you is paramount in the sale process. Research and interview several agents to assess their experience and track record in your area, their marketing strategies, and ask for testimonials. You will be working closely with them so choose someone you gel with and have a good rapport. Real estate is about people and your agent needs to be a good communicator with all parties and a proven negotiator on your behalf.

ACCURATE PRICING

Incorrect pricing is a common error. Buyers are savvy and will already

have researched sales in your area. Your agent will be able to provide current sales statistics to reassure you where the market value sits.

PRESENTATION

Neglecting your property’s presentation will discourage potential buyers. Declutter the interior and pack up everything you don’t use on a daily basis. Buyers need to visualise where their furniture and belongings will fit and your clutter will put them off. Clean inside and out and do any maintenance jobs. The aim is to create an inviting homely atmosphere. First impressions do count. Stand at the front entrance and decide if as a buyer the first impression you get is exciting and attractive.

MARKETING

Ineffective marketing will limit exposure and the number of buyers. In the current challenging market there are various options including marketing with or without a price indication. Seek your agent’s advice on all the options and

choose the option which suits your circumstances, keeping in mind the price range of your property. Professional photography, various digital and social media platforms will ensure your property is in the spotlight and not the shadows.

DISCLOSURE

Failing to disclose known defects or history about the property that a buyer would want to know is critical. Complications are in no one's interests and are easily avoided with honesty and transparency. Ask yourself, if I was the buyer what would I want to know about the property before I purchase? The Real Estate Act is stringent so disclose to your agent whatever is necessary to avoid any potential issues that may affect achieving a sale.

Selling your home can be stressful but remember any stress you feel as a seller is likely also felt by the buyers. Finally rely on your agent’s skill and advice to achieve you a successful sale.

I

A GLI mp S e OF S pr ING IN AUGUS t ’S NU mber S

BY JEN BAIRD, REINZ CEO

The Real Estate Institute of New Zealand’s (REINZ) August 2023 figures show continued optimism and further activity in the property market. While listing numbers remain light, they are up on July and with sales counts having increased this shows some late winter confidence.

REINZ Chief Executive Jen Baird says August often shows a resurgence of activity as winter ends and Spring approaches.

Compared to August 2022, August 2023 saw an increase in the total number of properties sold across New Zealand, up 9.2% from 5,047 to 5,509, and up 9.2% month-onmonth. For New Zealand excluding Auckland, sales counts also increased by 5.2% year-on-year from 3,508 to 3,690.

Across the regions, Northland (4.5%), Auckland (18.2%), Waikato (16.2%), Manawatu-Wanganui (8.6%), Tasman (8.0%), Nelson (12.3%), Marlborough (38.1%), Canterbury (24.9%) and Southland (4.2%) all saw increases in sales counts year-on-year.

“Local agents are reporting that, as new listing numbers continue to decrease, the demand for entrylevel property is holding and fairly strong, and properties are starting to move quicker,” says Baird.

The national median days to sell reduced by 6 days year-on-year and 5 days month-on-month, a change from the trend for many months of increased days to sell. Eleven regions saw a decrease in the median days to sell compared to July 2023, with the biggest decrease occurring in Nelson, which dropped 18 days from 60 days to 42 days.

At the end of August, the total number of properties for sale across New Zealand was 22,750, down 10.6% (2,691 properties) from 25,441 year-on-year, and down 1.5% month-on-month. New Zealand excluding Auckland inventory was down year-on-year from 15,196 to 14,099, a decrease of 1,097 properties or 7.5% annually.

Nationally, new listings decreased by 0.6% from 7,492 listings to 7,444 year-on-year and increased 20.9% compared to July 2023. For New Zealand excluding Auckland, listings decreased 4.2% year-

on-year from 4,749 to 4,550 and increased 18.3% month-on-month.

“The number of properties available for sale over the last three months continues to fall. Listings are still at lower levels compared to August 2022, but only slightly. Monthon-month we have seen a 20.9% increase of stock coming to market, suggesting seller confidence is returning and we can expect a more normal spring ahead for the property market,” comments Baird.

Nationally, the August 2023 median sale price decreased 4.1% year-onyear from $800,000 to $767,000.

Regionally, median sale prices remained down year-on-year except for five regions: Nelson +0.7%; Canterbury +0.8%; Southland +2.0%; Northland +3.6% and Gisborne up 14.8% year-on-year and up 13.0% month-on-month. Auckland, the country’s largest property market, saw its median sale price move back up over the $1 million mark

ANNUAL MEDIAN PRICE CHANGES

to $1,010,000 increasing 2.0% month-on-month, but decreasing 8.2% year-on-year.

Wellington saw month-on-month increases with the median sale price up 2.3% from $733,000 to $750,000, and a 16.9% increase in the number of properties sold from 438 to 512 month-on-month. Days to sell month-on-month decreased from 52 to 38, a 14-day decrease.

“Higher interest rates and the ongoing costs of living pressures continue to impact the market ahead of the looming election. There is a sense across the country that the market has seen the bottom both in terms of prices and sales volumes, but we are all waiting

to see how long it will take to see growth,” comments Baird.

The HPI for New Zealand stood at 3,588 in August 2023, showing a 0.9% increase compared to the previous month. However, when compared to the same period last year, the HPI reflects a 4.7% decline. The average annual growth in the New Zealand HPI over the past five years has been 5.7% per annum. It remains 16.1% below the peak.

Click here to read the full report

Source: REINZ Monthly Property Report 13 September 2023 .

7 BUDGET-FRIENDLY TIPS FOR A LUXURIOUS HOME LOOK

Creating a luxurious and expensive-looking home doesn't have to break the bank. With a few smart and creative choices, you can transform your living space into a stylish and elegant abode without spending a fortune. In this blog, we'll explore seven affordable ways to make your home look more expensive while staying within your budget.

1. DECLUTTER AND ORGANISE

One of the simplest and most cost- effective ways to give your home a high - end appearance is to declutter and organise your space. Remove unnecessary items, streamline your belongings, and find smart storage solutions. A clean and clutter-free environment instantly elevates the look and feel of your home.

2. FOCUS ON LIGHTING

Ample lighting can make a huge difference in how your home is perceived. Opt for well-placed lighting fixtures that add warmth and sophistication to your living areas. Consider investing in ambient and accent lighting to create layers of light that highlight key features and create a luxurious ambiance.

3. UPGRADE YOUR HARDWARE

Another affordable way to make your home look more expensive is by upgrading your hardware. Replace outdated doorknobs, drawer pulls, and cabinet handles with stylish options that complement your interior design. Choose finishes like brushed gold or brushed nickel for a contemporary and upscale look.

4. ADD A TOUCH OF LUXURY WITH TEXTILES

Introduce luxurious textiles into your home to instantly elevate its appearance. Swap out old and worn - out curtains or blinds for floor-to - ceiling drapes made of rich fabrics. Invest in high - quality throw pillows, plush area rugs, and soft bedding to create an inviting and sophisticated atmosphere.

5. CREATE AN ACCENT WALL

Enhancing a single wall can make a significant impact on the overall

aesthetic of your home. Choose a bold and eye-catching colour, textured wallpaper, or even a patterned tile to create an accent wall that adds depth and visual interest to your space. This focal point will give the impression of a thoughtfully designed interior.

6. INCORPORATE MIRRORS

Mirrors are a powerful tool in interior design as they create an illusion of space and reflect light, making any room appear larger and brighter. Place mirrors strategically in areas where they can reflect natural light or act as statement pieces. Consider adding a large

mirror in your entryway or above a mantel to make a grand statement.

7. PAY ATTENTION TO DETAILS

The small details in your home can make a big difference in its overall appearance. Invest in high - quality decorative accessories like vases, candles, and artwork. Look for pieces that have an air of sophistication and uniqueness, adding personality and charm to your living spaces.

Creating an expensive -looking home doesn't have to drain your bank account. By following these seven affordable tips, you can enhance the overall aesthetic of

your living space without blowing your budget. Remember, it's all about decluttering, lighting, upgrading hardware, incorporating luxurious textiles, creating focal points, adding mirrors, and paying attention to the details. With a little creativity and attention to detail, you can transform your home into a sophisticated and elegant haven that exudes luxury and style.

U NDERSTANDING LANDLORD AND TENANT RESPONSIBILITIES

As a property owner or prospective landlord in New Zealand, it's crucial to comprehend the ins and outs of the Residential Tenancies Act 1986 (RTA), the cornerstone legislation that governs landlord-tenant relationships within the country. This act outlines the rights and duties of both landlords and tenants, delineating the procedures for dispute resolution.

Under the RTA, landlords have an array of responsibilities aimed at maintaining the welfare of their tenants and fostering a harmonious living environment. Some key obligations include to:

• Provide a rental property that is in a reasonable state of repair and meets all health and safety standards.

• Give the tenant quiet enjoyment of the property.

• Not unreasonably interfere with the tenant's use of the property.

• Give the tenant at least 24 hours' notice before entering the property (unless it is an emergency).

• Provide the tenant with a copy of the tenancy agreement and the Residential Tenancies Act.

• Pay for all necessary repairs to the property, except for wear and tear.

• Not increase rent more than once in any 12-month period.

• Not evict the tenant without a valid reason.

Landlords, too, possess rights safeguarded by the RTA, aimed at maintaining a balanced relationship with tenants. Here are some key landlord rights under the RTA:

• Receive rent on time and in full.

• Have access to the property for inspections and repairs, with reasonable notice.

• Evict the tenant if they have breached the tenancy agreement.

• Claim compensation for damage to the property caused by the tenant.

RESOLVING DISPUTES: THE ROLE OF THE TENANCY TRIBUNAL

In the event of an alleged breach of the RTA, either party – landlord or tenant – can seek a resolution through the Tenancy Tribunal. As a government agency, the Tribunal is empowered to hear and resolve disputes that arise within tenancy arrangements.

Apart from the RTA, New Zealand landlords are also bound by

other laws that underscore the importance of tenant well-being and equitable treatment. Here are some additional landlord laws:

• Landlords must comply with the healthy homes standards, which set minimum standards for the quality of rental properties.

• Landlords cannot discriminate against tenants on the basis of their race, sex, religion, or disability.

• Landlords must provide tenants with information about their rights and responsibilities under the RTA.

For more comprehensive insights into landlord laws in New Zealand, you can explore resources provided by the Tenancy Services website here: www.tenancy.govt.nz/

YOUR PROJECT

We sell projects, subdivisions, and house section packages. Our regular newsletter alerts these buyers to vacant land lots or potential subdivisions. We can operate as your project managers if you want to phase sections or projects to the marketplace. Sometimes we offer builders a discount package price for any on sales of new homes, and that allows us to manage and maintain the standard of the development. New houses sell well under these terms for us, we definitely have demand for these and we sell off the plans. Some builders will request builders terms sections at 10% deposit and a further 20% on an on sale or roof on, and full payment when it sells or within 6-12 months, whatever comes first. This allows the project to begin and to get a standard of home that you want.

We’d love to hear from you with any special requests or questions.

TIM KEARINS

027 449 5547

06 355 5521

tim.kearins@century21.co.nz

c21.co.nz/palmerstonnorth