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P U L S E
N O V E M B E R
M A R K E T
C21
PUBLISHER Century 21 New Zealand Ltd
CONTRIBUTORS Tim Kearins Cameron Brewer Jen Baird Home Beautiful
EDITORIAL ENQUIRIES Century 21 New Zealand +64 9414 6041
ADVERTISING ENQUIRIES Century 21 New Zealand +64 9414 6041
WELCOME TO THE
NOVEMBER 2021 ISSUE OF
C21 MARKET PULSE
C O N T E N T S
DISCLAIMER
N O V E M B E R
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We have in preparing this information used our best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective buyers and sellers should make their own enquiries to verify the information contained herein. All information contained in the CENTURY 21 New Zealand
C21 NEW ZEALAND NEWS
02
PAPAKURA ON TOP AGAIN
Ltd website is provided as a convenience to
C21 NZ performs strongly despite lockdowns &
Papakura named ‘Top Office’ in C21’s quarterly
clients. All links to property prices displayed
restrictions.
awards.
Century 21 New Zealand, Tim Kearins
Cameron Brewer
on the website are current at the time of issue, but may change at any time and are subject to availability. For more information on our Privacy Policy please refer to: www.century21.com.au/privacy
PROPERTY MARKET UPDATE
04
GOLDEN HOUR MAGIC
Spring is here, market bounces back from
How to harness golden hour in your home decor.
lockdown.
Home Beautiful
CEO, REINZ, Jen Baird
KEY PROJECTS
06
Wellington C21 franchise entrusted to sell key projects. Century 21 New Zealand, Tim Kearins
C21 MARKET PULSE
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CENTURY 21
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09
C21 NEW ZEAL AND NEWS
C21 NZ PERFORMS STRONGLY DESPITE LOCKDOWNS & RESTRICTIONS It’s no surprise that the Reserve Bank stands by its forecast that house price growth will likely ease. It will also get a bit tougher to borrow money. Nonetheless, the New Zealand property market remains an attractive proposition for those taking a longer view.
BY TIM KEARINS,
CENTURY 21 NEW ZEALAND
Hence, the central bank has said
In other news, Papakura’s Century
it will consult on the merits of
21 Local Realty has again won Top
implementing debt servicing
Office for the Quarter in our third
restrictions and expects banks to be
quarter awards. Our central city
more cautious about high debt-to-
franchises in both Wellington and
income loans.
Auckland also had some key wins,
No one wants to see young Kiwis
which we cover in this issue.
over commit and then get caught.
Let’s not forget that the third
In that regard, the Reserve Bank’s
quarter saw New Zealand go into
soundings and possible actions are
Level 4 lockdown, with the entire
designed to minimise such risk.
Auckland region in lockdown for the
Early last month, the Reserve Bank
second half of the quarter.
lifted the Official Cash Rate by 25
Despite this, and ongoing
basis-points to 0.50% - the first
restrictions in real estate, Century
OCR hike by the central bank in
21’s salespeople and offices up
over seven years. Interest rates
and down the country have done a
remain low, with all eyes on the next
phenomenal job. This all bodes well
stability. That has helped underpin
OCR review on 24 November.
for a strong summer, with activity
a relatively prosperous housing
Mortgage rates are still very
market over the years.
low, rents are at record highs,
The likes of 25% annual median
housing demand remains strong,
While it is a time of turmoil in many respects, let’s not forget that New Zealand enjoys great political, financial, economic, and social
house price growth was never sustainable, but the good news is any easing will likely be sure and steady. The Reserve Bank is not predicting a sharp correction, but it does raise some concerns about recent buyers borrowing more to their relative income, making them more vulnerable to higher mortgage rates.
and despite the pandemic and lockdowns, economic confidence and unemployment are in relatively
SELL YOUR HOME WITH CONFIDENCE
already on the rise.
www.century21.co.nz Contact: Tim Kearins - Century 21 New Zealand - (0274) 495-547
After 50 years we know what it takes to achieve a great result each time we sell a property.
good shape. All things considered, we’re not expecting a red-hot summer, but it will be a busy one.
Talk to your local C21 agent today to discuss how we can help you achieve the best sale result.
Yes, there are massive stresses in certain sectors and regions, but history shows us that residential housing in New Zealand is a safe
Get started by requesting your FREE market appraisal today.
and proven medium to long-term
CELEBRATING 50 YEARS
investment. C21 MARKET PULSE
02
CENTURY 21
Visit: C21.co.NZ
ANNUAL ME DIAN PRICE CHANGES
P R O P E R T Y M A R K E T U P DAT E
SPRING IS HERE, MARKET BOUNCES BACK FROM LOCKDOWN
$
$
Record Median Price
BY J E N B A I R D,
$
$
23.4%
NORTHLAND
17.0%
BAY OF PLENTY
23.6%
12.3%
28.4%
37.7%
MANAWATU / WANGANUI
$
The number of residential
than in September 2021 (1,389).
Jen Baird, Chief Executive at
property sales across New Zealand
Despite prolonged restrictions, the
REINZ, says: “October shows a
decreased by 21.7% year-on-year,
Auckland market seems to have
marked increase in sales activity on
from 9,185 in October 2020 to 7,190
found its rhythm again. The ability
September and August, boosted
in October 2021. However, there
to conduct business remotely and
by the usual spring uplift. While
was a significant increase in sales
eased restrictions around viewings
across New Zealand, sales activity
month-on-month — up 30.3% from
have enabled real estate continuity,
decreased year-on-year by
September (5,518). October’s sales
while a general FOMO (fear of
21.7%, there was a 30.3% increase
activity shows a market revitalised
missing out) stokes a market that
month-on-month. Auckland saw
by easing COVID-19 restrictions,
remains strong.
the most significant uptick in
the spring lift and growing confidence in vendors and buyers to make decisions about their housing. For New Zealand, excluding Auckland, the number of properties sold in October 2021 decreased 22.5% year-on-year to 4,614 (October 2020: 5,951). Again, sales increased month-on-month by 11.7% (September 2021: 4,129). In Auckland, the number of properties sold in October decreased by 20.3% year-on-year (October 2020: 3,234, October 2021: 2,576). The increase
Tasman had its highest sales count since November 2020, and Bay of Plenty had its highest since March 2021. The regions with the greatest annual percentage decrease in sales volumes were: • West Coast: -55.2% (from 58 to 26 – 32 fewer houses). The region’s lowest sales count since April 2020 and its lowest October month sales count in six years
October than in September 2021. Despite the restraints the market is operating under, this is a stronger than average October month. We’re seeing the continuation of what is a
“Lockdown restrictions are having a reduced impact. Real estate professionals have the resources to conduct business remotely, and customers/clients have the
• Northland: -40% (from 290 to 174 – 116 fewer houses). The region’s lowest October month sales count since 2012
market’s resilience, with 85.5%
• Marlborough: -38.9% (from 108 to 66 – 42 fewer houses).
C21 MARKET PULSE
with 85.5% more properties sold in
firm market, despite the pandemic.
month-on-month shows the more properties sold in October
month-on-month sales activity,
04
confidence to move forward to make decisions. Steps by the Government — as advocated for by REINZ on behalf of members — to enable more private property viewings at Alert Level 3, for example, have helped – especially
CENTURY 21
10.0%
26.8%
28.6%
14.5%
TASMAN
$
WELLINGTON
MARLBOROUGH
31.0%
WEST COAST
$
$
HAWKE’S BAY
NELSON
Property market rebounds in October following a September dip as activity increases and prices remain strong, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.
$
GISBORNE
TARANAKI
34
23.9%
WAIKATO
31.1%
MEDIAN DAYS TO SELL:
REINZ CEO
25.0% AUCKLAND
NATIONAL MEDIAN PRICE:
$895,000
19.3%
$
$
CANTERBURY
21.6%
11.8%
SOUTHLAND
$
OTAGO Source: REINZ Monthly Property Report 11 November 2021 .
in areas longest affected by
“Various levels of lockdown across
increased by 23.4% to $895,000
tighter lockdown. Less stringent
New Zealand have influenced
in October 2021 compared to
restrictions equate to more activity.
activity in the real estate market this
$725,000 in October 2020. Ten out
month lending to mixed results. We
of 16 regions reached median price
expect to see a rise in activity as
records, and one had an equal price
restrictions ease further, especially
record — the most since March
in Auckland. Demand suppression
2021. The number of price records
measures introduced this year,
is above average for an October
recent moves by the Reserve Bank
month, reflecting a firm market
to increase the OCR, and COVID-19
reinforced by continued demand.
“Comparing listing and sales activity over this lockdown to the country’s first one in 2020, shows a sharp difference. Namely, the impact has not been so severe, and the recovery has been quicker. “October is the beneficiary of increased listings in the month prior. It is expected that sales activity across New Zealand will continue to rise in the coming months, as restrictions ease further, travel limitations lift and those who previously held back listing their property do so. The demand is certainly there,” Baird observes.
restrictions to real estate activity are creating headwinds for house prices and we can see that the pace of price rises has slowed over recent months,” Baird concludes.
STEADY INCREASE IN MEDIAN PRICES ACROSS NEW ZEALAND Median prices for residential property across New Zealand
C21 MARKET PULSE
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CENTURY 21
Click here to read the full report.
The team at Century 21 The Moshi Group at Century 21’s annual awards evening in Auckland earlier this year, where the Courtenay Place office took out some key awards.
KEY PROJECTS
WELLINGTON C21 FRANCHISE ENTRUSTED TO SELL KEY PROJECTS One of Century 21 New Zealand’s best performing franchises is Century 21 The Moshi Group, based on Courtenay Place in central Wellington.
Diamond Master sales awards. The Moshi Group also won a Centurion Office for 2020 award,
BY TIM KEARINS,
CENTURY 21 NEW ZEALAND
know the local market and deliver a great product at the right price point,” says Alen.
while Wellington sales star Jeh
Key to the team’s success, he
Wasti was named a Double
strongly believes, is being backed
Centurion Producer and a Century
by the biggest and most successful
21 Emerald Master.
real estate brand in the world.
For the second and third quarters of
“Being a Century 21 franchise
In recent years, Wellington has
2021, the awards kept coming, with
means we have the best training,
enjoyed some solid residential
Alen again Top Principal across the
the best systems, and the most
property price growth and an
country.
technology-savvy agents ready to
incredibly competitive rental market. The capital city has also seen the arrival of higher density residential developments, many of which The Moshi Group is entrusted to sell.
The Moshi Group’s salespeople
engage and work,” says Alen.
service the entire Wellington
He says Wellington maintains
region, and their work includes
an underlying strength and
selling commercial office space
confidence. It’s helped by the fact
and retail units. Most notably, they
that the country’s capital has a
have considerable experience
significant government sector not
“Modern-day Wellington is an
and expertise in and around new
going anywhere. In fact, the Crown
exciting place, with the local
residential property developments.
occupies 45% of the office buildings
housing marketing red hot over the past few years. The city has done exceptionally well weathering any effects of the Covid-19 pandemic, and all throughout we’ve continued to achieve great results for our clients,” says Alen Moshi, owner and
“We’ve sold some of the finest homes in Wellington, but increasingly we’re a preferred sales and marketing partner with some
Closed Commission) and Units
Century 21’s superior service
To find out more about the benefits
established force in the capital
and global status will continue
of becoming a part of Century 21’s
city. Despite the lockdowns and
to attract other high-performing
global network, visit:
businesspeople and salespeople to
Despite being much smaller than Auckland, Wellington boasts the
Alen and his tight team have done
consider franchise ownership, he
title of New Zealand’s cultural
a phenomenal job. Not only have
says.
capital and has been ranked one of
they won a lot of awards, but they’ve
the world’s most liveable cities.
also won the trust and respect of
delighted to support and promote
for 2020 for both GCC (Gross
city.
“The Moshi Group is a well-
projects all around the region.
Group.
named Century 21’s Top Principal
public servants’ commute into the
stunning, yet affordable, residential
He says The Moshi Group is
Auckland earlier this year, Alen was
and everyday tens of thousands of
ongoing restrictions in real estate,
principal of Century 21 The Moshi
At the Century 21’s awards dinner in
in the Central Business District
much-needed affordable firsthome options for Wellingtonians.
Famous for a vibrant creative
Wellington developers, buyers, and sellers alike,” says Tim Kearins,
www.c21.co.nz/joining-century-21 or contact Tim Kearins - Century 21 New Zealand - (0274) 495-547
“As well as franchise opportunities
tim.kearins@century21.co.nz
for experienced agents, we are seeking keen salespeople with the
To view Century 21 The Moshi
drive and motivation to learn what
Group’s listing at 106 Mohaka Street
it takes to thrive in this exciting
in Wainuiomata, Wellington, visit:
One project they’re currently
culture fuelled by great food, wine,
marketing is in Wainuiomata, with
craft beer, coffee and events,
townhouses from $735,000.
Wellington is truly cosmopolitan
Mr Kearins says opportunities to
industry. Right now, we have
https://wellington.century21.co.nz/
with genuine personality and artistic
set up other successful Century 21
numerous sales positions available
property/residential/buy/nz/50/
flare. It is home to many cultural
franchises remain available in many
across Auckland and Waikato,
wainuiomata/519363
organisations and destinations.
parts of New Zealand.
as well as Wellington,” says Tim
(the number of properties listed
“From the very beginning of a
and sold). He was also awarded
project right to end, we work closely
the Grand Centurion Producer and
with proven local developers who
C21 MARKET PULSE
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CENTURY 21
Owner of Century 21 New Zealand.
Kearins. C21 MARKET PULSE
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CENTURY 21
PAPAKUR A ON TOP AGAIN
GOLDEN HOUR MAGIC
PAPAKURA NAMED ‘TOP OFFICE’ IN C21’S QUARTERLY AWARDS
HOW TO HARNESS GOLDEN HOUR IN YOUR HOME DECOR BY HOME BEAUTIFUL
Papakura’s Century 21 Local Realty has again won Top Office for the Quarter in Century 21 New Zealand’s third quarter awards for 2021.
Alen Moshi, owner of Century 21 The Moshi Group in Wellington’s
Bronze awards went to Team
Courtenay Place, won Top Principal
Chatty & Bani (Century 21 Fairdeal
for the Quarter for both GCC
Realty), Clifford Brown (Century 21
and Units. Meanwhile, Century 21
Gadsby Realty, Te Awamutu), and
Queen Street Realty in Auckland’s
Anjali Amarasinghe and Komal Gill
CBD saw sales star Winson He win
(Century 21 Local Realty).
Top Salesperson for the Quarter
Channel the magic of a gently setting sun in spaces filled with earthy shades and nostalgic textures. Cast your mind back to a favourite
as timber, shell, linen, rattan
established room," says Kara. "I
and grasscloth. "Earthy tones of
deliberately used darker shades
texture make spaces feel solid and
of grasscloth in all the bedrooms
transform an ordinary room into
of our house, as I wanted to create
a primitive sanctuary which stirs
little dark havens and encourage a
our souls," says photographer Kara
slow and gentle way to rise on the
Rosenlund, whose inviting home
weekend mornings."
glows in these images. "Woven
The award for Property
seaside holiday, and the delicious
Management Office (over 250
feeling of settling into a plush sofa,
managements) for the Quarter was
glass in hand, as the afternoon
won by Century 21 Edwards Realty,
draws in. After a day in the
Other Diamond awards went to
Botany. Property Management
white bright beauty of surf and
Iresh Tennakoon (Century 21 Local
Office for the Quarter Under 250
sun, there's nothing more restful
Realty) and Rupinder Kaur (Century
went to Century 21 Fairdeal Realty
than watching the afternoon light,
second quarter running this year
21 Fairdeal Realty, Manukau).
in Manukau. Vicki Southgate of
Midas-like, turn everything it
An undercurrent of 1970s
I mimic the direction of the sun –
Local Realty is Top Office,” says Tim
Platinum awards went to Jeh Wasti
Century 21 Edwards Realty was
touches to gold. This is Golden
California-Cool permeates Golden
direct overhead light is too harsh,
Kearins, Owner of Century 21 New
(Century 21 The Moshi Group) and
named Property Manager of the
Hour. "It's all about coming home,
Hour, reminding us to take refuge
much like the midday sun, so always
Zealand.
Gary Bal (Century 21 Local Realty),
Quarter.
and embracing the coastal lifestyle
in the remembrance of sun-kissed,
go for lamps and wall lights which
The South Auckland franchise on
while Kanwar Dhillon (Century 21
Administration Team Member of
with a 1970s nod," says HB forecast
simpler times, even as we look
are at the angle of a rising or setting
Papakura’s Broadway was named
Local Realty) won a Gold award.
the Quarter went to Julie Verrall
style director Fiona Gould. "It's a
to brighter days ahead. Choose
sun."
Top Office for the third quarter
Silver awards went to Ambi Basati
holiday at home, and it celebrates
cushions in burnished shades of
for both GCC (Gross Closed
and Deeyana Amosa (Century 21
golden-brown as a colour on the
velvet, furniture or joinery with rattan
Commission) and Units (the number
Fairdeal Realty), Aman Kaushal and
rise, for its grounded and earthy
panels and shell light pendants to
of properties listed and sold).
Param Randhawa (Century 21 Local
qualities. Now that we spend more
infuse your interiors with the light hearted simplicity of a '70s summer.
The third quarter also saw Century
Realty), and Andrew Pugh (Century
time at home, we're moving away
“Local Realty is barely two years old, yet the franchise has already taken out many sales awards. They’ve been one of the Top 21 offices across Century 21 Australasia, Century 21 New Zealand’s Top Office for 2020, and now for the
21’s central city franchises in both
both for GCC and Units. Mr Moshi and Mr He also won Diamond sales awards.
21 Premier, Palmerston North).
Wellington and Auckland take out
of Century 21 Edwards Realty while Mohe Abdo, also of Century 21 Edwards Realty, received the Recognition Award. Ishan Sikka of Century 21 Local Realty received the Quality Service Award. Sales Assistant of the Quarter was awarded to Tasreet Dhatt of
some key awards.
Century 21 Fairdeal Realty.
www.century21.co.nz
C21 MARKET PULSE
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CENTURY 21
textures are also key to give a space soul and heart. Woven baskets and lampshades are the closest link we have to the natural world."
comforting."
HARNESS THE POWER OF TOUCH
"To achieve a homely warm golden glow each evening, only use warm white globes in lamps and light fittings," advises Kara, who always
NOD TO NOSTALGIA
uses dimmers. "I suppose, in a way,
from white-on-white in favour of a space that feels warm and
CAST A GENTLE GLOW
GO FOR GRASSCLOTH WALLPAPER
TREND TIP: “Natural fibres reward you through the senses. Beautiful moments of touch can happen daily by how your skin feels against linen sheets, which have been dried by the sun, or how
Your sleep zone is the perfect
the sunshine reflects the natural
place to usher in the gentle rhythm
textures of an upholstered bedhead
of Golden Hour – try grasscloth
or cushion," Kara Rosenlund,
Introduce the soothing warmth
wallpaper as a tactile feature
photographer & stylist
of Golden Hour into your home
wall behind your bed. "Textured
through tactile elements such
wallpaper gives the sense of an
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Click here to read the full article
