M A R K E T
S U M M E R
P U L S E
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C21
PUBLISHER Century 21 New Zealand Ltd
CONTRIBUTORS Derryn Mayne Bindi Norwell Cameron Brewer Chelsea Tromans SCOOP Business News
EDITORIAL ENQUIRIES Century 21 New Zealand +64 9414 6041
ADVERTISING ENQUIRIES Century 21 New Zealand
WELCOME TO THE
SUMMER 2020 ISSUE OF
C21 MARKET PULSE
+64 9414 6041
DISCLAIMER 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 Ltd website is provided as a convenience to clients. All links to property prices displayed 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
C O N T E N T S S U M M E R
C21 NEW ZEALAND NEWS
02-03
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LEGENDARY MOVES
Great opportunity to take next step on
Century 21 now selling in Rotorua, with $2,000
housing ladder.
travel lure.
CEO, Century 21 New Zealand, Derryn Mayne
SCOOP Business News
SPOTLIGHT ON: TUAKAU
04-05
PROPERTY MARKET UPDATE
Tuakau: a country town with a strong future.
New record median house price for NZ and
Cameron Brewer
six regions.
07
08-09
REINZ CEO, Bindi Norwell
FEATURED LISTING
06
Feature Property: Lot 5, 71 Kolmar Road, Papatoetoe.
AUCTION SECRETS The expert secrets to winning an auction. Home Beautiful Magazine Editor, Chelsea Tromans
C21 MARKET PULSE
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10-11
C21 NEW ZEAL AND NEWS
GREAT OPPORTUNITY TO TAKE NEXT STEP ON HOUSING LADDER
B Y D E R R Y N M AY N E , C E O, C E N T U R Y 2 1 N E W Z E A L A N D
Century 21’s latest awards clearly showed that our strength continues. Our offices, principals, and salespeople in Auckland, Central North Island, Manawatu, and Wellington Central, in particular, had a notable third quarter. It all bodes well for an action-packed summer. This month we feature Century 21 Tuakau (Platinum). Last month we featured our Huntly office. Both are strong performers in the Century 21 family, and both hark from the Mighty Waikato. New franchise office Century 21 Local Realty is currently setting up shop on Broadway in Papakura. However, even before we have their official opening, Iresh Tennakoon won a third quarter sales award. He and fellow principal, Gary Bal,
and their team will do very well
the Century 21 flag well in Rotorua
in southern part of the Auckland
and we wish him every success.
region.
He is being replaced in Turangi by
One person who is well familiar with winning quarterly and annual real estate awards is Roger Webb,
Patrick Barry – someone who brings considerable integrity and plenty of experience in sales.
who has left our Turangi office.
Our franchise offices, like Turangi
However, he hasn’t left Century 21.
and Tuakau, are not only strong
Instead Roger has moved to Rotorua
performers but incredibly involved
where he was meant to
in their respective
retire but instead
communities. I’m
is busy listing and selling property. Roger has been incredibly successful with Century 21. We now
proud of the
“Existing homeowners should seriously consider the coming months as possibly the best time in a long time to take some positive action.”
Century 21 has to the many different areas we serve. We may not be the biggest real estate
see a huge
brand in
opportunity
New Zealand, but
for our globally
where we do operate,
recognised brand to gain some traction in the tourism capital of the North Island. Roger will carry
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commitment
02
CENTURY 21
we rise to the top - helped by our offices being extremely loyal and local.
Speaking of which Botany Downs
and sellers alike is increasingly
to go by, this quarter and the next
had a strong third quarter.
important.
one will shine.
The real estate industry is seeing
Low interest rates will definitely
numbers of salespeople dwindle
help the market bubble along and
across the country as activity
I’m not just pointing to prospective
drops off in many areas. However,
first-home buyers. Existing
it’s heartening to see Century 21’s
homeowners should seriously
The family-owned and run business
teams holding strong and in many
consider the coming months as
is well known and well respected
cases continuing to grow.
possibly the best time in a long time
Century 21 Edwards Realty is well established in East Auckland, this time taking out the leading property management office nationwide and the top salesperson award.
for doing a great job and getting the business done.
Subsequently, unlike other New
to take some positive action. What an opportunity for many
In Auckland, in particular, where
I’m predicting a stronger summer
Kiwis to take that next step on the
the market has levelled out over the
for our company than last summer.
housing ladder - to purchase a
past 18 months, being known for
Our salespeople are exuding some
slightly better or bigger place for
your commitment to great service,
really positive energy, and again if
a fair price, funded by record-low
hard work, and delivering for buyers
the third quarter bounce is anything
borrowing costs.
Pictured: Feature Property, see Page 6.
Zealand real estate spokespeople,
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SPOTLIGHT ON: TUAKAU
Tuakau: a country town with a strong future. Just south west of Auckland’s Bombay Hills, once upon a time Tuakau was a sleepy little country village. Today the North Waikato township is a popular choice for young Auckland families – on the search for more affordable homes with larger sections, as well as that sought-after semi-rural lifestyle.
Like to know more about Tuakau real estate? Speak to our area specialists today:
CENTURY 21 Platinum (Tuakau) 46B George Street, Tuakau 09 236 9996 | C21.co.nz/tuakau
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D
espite developments and
a property management team of
up for tender, with their property
subdivisions on the go, Tuakau
three. The office also has four real
listings mostly homes, as well as
retains its ‘small town New Zealand’
estate salespeople, and the office
lifestyle sections and blocks.
feel. It’s only a few minutes’ drive to
manager is the ever-efficient
Pukekohe and a 20-minute drive to
Miriam Scurr.
Port Waikato’s great surf beaches.
“There are quite a few subdivisions underway in the likes of Pukekawa
“We all live locally, love the many
and Onewhero. For a rural area we
“Tuakau is a place where neighbours
different communities dotted
have plenty of new housing stock,
still look out for each other. However,
around the place, and are all very
with more coming on stream. Now is
we’re also fortunate as given our
positive about the area’s future,”
the time to buy in the area because
proximity to Auckland, the area will
says Mr Hull.
it’s only going to get stronger and
continue to grow and prosper,” says Esme Cole, Principal at Century 21
Property Management is a growing
stronger,” says Ms Cole.
part of Century 21 Platinum’s
But it’s not just about buying and
business, managing properties
selling. Over the years the local
Future planning protects the
from Auckland City to throughout
Century 21 team has supported
essence of Tuakau and much of its
North Waikato. Ms Cole says theirs
many local causes, including
hinterland, with neighbouring Drury
is hands on management, with them
Tuakau Kindergarten, the Tuakau
and Pokeno set for some significant
picking up more local properties
Primary School Gala Day and the
commercial and industrial
lately. She manages their growing
Waikaretu School Fun Run. Ongoing
development in the coming years.
rental portfolio with Keith and
sponsorships include the Onewhero
Andrea Dennis.
School Rowing and Onewhero
Platinum (Tuakau) Real Estate.
“So Tuakau will keep its ‘small town’
Junior Boys Rugby.
character but will gain access to
Both Esme Cole and Rod Hull
more jobs as more industry moves
actively sell real estate, with their
Century 21 New Zealand owner
further south. It’s really the best
Tuakau sales team also consisting
Derryn Mayne says the Century 21
of both worlds, and again it helps
of Courtney Howells and Bherny
Tuakau team are great commercial
when you’re in commuting distance
Colipano, who’s new to the industry
citizens and supporters of the
to Australasia’s fastest growing
but very well known in Onewhero
wider area.
city, and have plenty of amenities
and surrounding districts.
nearby,” she says.
“Century 21 Platinum is a consistent
As well as covering Tuakau, the
and solid business performer within
Esme Cole owns the Century 21
sales team list and sell houses from
our New Zealand company. Esme
franchise with her fellow principal
the Bombays to Rangiriri, including
Cole and her team have often
Rod Hull, who has lived in the area
Onewhero, Pukekawa, Port Waikato,
won Century 21’s top property
all his life, and as a former stock
Pokeno, Pukekohe, Te Kauwhata,
management awards. Their
agent is widely known. He’s also the
Glen Murray, and Waikaretu.
strong rental portfolio growth is
office’s resident auctioneer.
Century 21 Platinum currently has a
Century 21 Platinum is on the town’s
beautiful 13-hectare lifestyle block
mainstreet, George Street, with
at 36 Waipuna Road in Te Kauwhata
Tuakau: Did you know... • Tuakau’s name is believed to be a geographical reference. In Māori the word Tū can mean ‘to stand’ and ākau ‘river bank’. • The area was first used as a trading centre for passing waka that would transport goods up and down the Waikato River.
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a real credit to the service and commitment they provide to their clients,” says Ms Mayne.
??
• Sir Edmund Hillary attended Tuakau Primary School. • Tuakau is home to many employees of New Zealand Steel’s nearby major steel mill, Glenbrook. • Tuakau was part of the Auckland region until it became part of Waikato District Council in 2010.
05
CENTURY 21
F E AT U R E D L I ST I N G
F E AT U R E P R O P E R T Y
L O T 5 , 7 1 KO L M A R R O A D , PA PAT O E T O E
The sophisticated living on offer is lavished with beautiful fittings, luxurious touches and clever practical ideas. The attention to detail is obvious throughout this masterfully crafted residence. You could be forgiven for thinking you were transported into the future upon stepping foot into this home. A future where integrated smart appliances allow you to control home lighting, doors, entertainment and more, by simply giving a voice command or by touching a setting on your smart phone or tablet. Welcome to the future. Lot 5, located within one of Papatoetoe’s newest developments, offers freehold living like never before. Fully equipped with the latest Alexa technology enabling you to have seamless control over your TV, audio/video equipment, lighting, heating, garage access and 24/7 security monitoring, whether in-residence or remotely from your smartphone or wall-mounted iPad touchscreen. With a total of only 14 townhouses on offer, you’ll need to be quick!
CLICK HERE TO VIEW PROPERTY
For Sale – Price by negotiation Contact: Iresh Tennakoon 027 453 0333, Gary Bal 027 604 0504
PLEASE NOTE: All photographs, facades, colour schemes and details displayed here
Licensed under the REAA 2008
are for illustrative purposes only and may vary slightly to the end product.
C21 MARKET PULSE
06
CENTURY 21
LEGENDARY MOVES
CENTURY 21 NOW SELLING IN ROTORUA, WITH $2,000 TRAVEL LURE Award-winning real estate legend Roger Webb has moved to Rotorua, bringing considerable industry experience and success to the region. He has been Century 21 New Zealand’s top selling real estate agent.
SCOOP BUSINESS W W W . S C O O P. C O . N Z
huge opportunity for our globally
is the real estate company’s most
recognised brand to gain some
prestigious sales award and is only
traction in the tourism capital of
available to the top two percent
the North Island. With Roger’s
of salespeople globally. Then this
famous commitment and dedication
month it was announced, for the
to his clients, plus his outgoing
third quarter of 2019, he’d again
personality, he’ll carry the Century
won Top Salesperson of the
21 flag very well in Rotorua,”
Quarter (Units).
says Ms Mayne.
“Roger is an absolute legend in real
Roger Webb’s success at Century
estate. Not only does he understand
To celebrate Roger Webb’s move
21 Premier in Turangi is well
the market and achieve the best
into the Rotorua market, he is now
documented and recognised. The
results, he’s very community
offering a $2,000 travel voucher for
national accolades he’s received
focused. He has raised a lot of
both of the first two properties sold.
over the past 12 months alone
money for charities over the years,
Whether they be a classic ‘do up’
are eyewatering. Earlier this year Mr
including the Greenlea Rescue
or an executive lakeside property,
Webb was named Century 21 New
Helicopter. Roger will be a great
the opportunity stands for any
Zealand’s Top Salesperson for 2018
addition for Rotorua and will well
prospective vendors who
for Units (the number of properties
and truly keep the other companies
contact him.
listed and sold). It was also revealed
on their toes,” says Ms Mayne.
Century 21 New Zealand owner, Derryn Mayne, is delighted by Mr Webb’s decision to do business in Rotorua, describing it as a very smart strategic step for both him and Century 21 in a key part of New Zealand. “Roger has been incredibly successful with Century 21 for a number of years, including as an auctioneer. We now see a
that in the fourth quarter of 2018 he took out both Units and GCC (Gross Closed Commission) categories. This saw him finish the year as Century 21’s all-round leading salesperson across the country.
“I love working with people and I love real estate. Rotorua is a such beautiful place, and my wife and I have had a long association with the area. We are thrilled to be here, and I’m already enjoying the local
In June at the Century 21
community and of course a whole
Australasian Convention, Mr
new challenge,” says Roger Webb.
Webb was presented with the company’s Centurion Producer Award. Attaining Centurion status
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P R O P E R T Y M A R K E T U P DAT E
NEW RECORD MEDIAN HOUSE PRICE FOR NZ AND SIX REGIONS
BY BINDI NORWELL, REINZ CEO
Median house prices across New Zealand increased by 8.2% in October to a new record high of $607,500, up from $561,500 in October 2018 – the first time the median house price for the country has crept over the $600,000 mark, according to the latest data from the Real Estate Institute of New Zealand (REINZ). Median house prices for New
• Hawke’s Bay with a 16.3%
Bindi Norwell, Chief Executive
Zealand excluding Auckland
increase to $535,000 up from
at REINZ says: “October was a
increased by 8.6% to a new
$460,000 at the same time
strong month price wise, with
record high of $520,000, up from
last year.
record median prices recorded
$479,000 in October last year.
• Manawatu/Wanganui with a
Median house prices in Auckland
20.9% increase to $407,500 up
increased by 0.8% to $868,000
from $337,000 at the same time
– up from $861,000 at the same
last year
time last year – the highest price in 19 months. Record median prices were recorded in:
• Otago with a 15.8% increase to
$550,000 up from $475,000 at
the same time last year.
Additionally, a record equal median
in six regions and a record equal in Canterbury. Additionally, the country saw a new national record median price of $607,500 – the first time the median house price for New Zealand has exceeded the $600,000 mark. This is the highest number of regional record prices we’ve seen for the country in
• Northland with a 9.4% increase
high was recorded in Canterbury
23 months.
to $525,000 up from $480,000
of $465,000, the same price as in
at the same time last year
October 2018.
“The Gisborne region also had a very strong month with a 37.1%
• Waikato with a 9.6% increase to
The only region to experience an
$570,000 up from $520,000 at
annual decrease in median price
the same time last year
was Taranaki, with a marginal fall
• Bay of Plenty with a 7.8% increase
to $620,000 up from $575,000
at the same time last year
increase in median price year-onyear to $425,000 – the strongest price rise across the country,”
of -0.5% from $392,000 in October
continues Norwell.
2018 to $390,000 in October
“October saw the Auckland
this year.
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region experience the highest
08
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median house price in 19 months
year (to 4,776 down from 5,055). In
“Looking around the country, the
at $868,000. This was a 0.8% lift
Auckland, the number of properties
Bay of Plenty saw the highest sales
on the median price seen last
sold in October decreased by -0.1%
volumes in the month of October
October and a 2.4% lift on the
year-on-year (to 2,025 down from
for four years with a big uplift
median price from September this
2,028) – just 3 fewer properties
in sales in Kawerau, Opotiki and
year. Looking across the Auckland
than at the same time last year.
Western Bay of Plenty Districts and
region, Auckland City saw the
$1,001,000 - in part due to a 43.0% increase in median price in the Waitemata & Gulf area. This was the result of a 6.8% increase in $1 million - $1,999,999 properties
Nelson saw strong annual uplifts in
when compared to the same time
sales volumes.
last year; but with a number of people aiming to sell their home
“In Auckland, areas that are more
before the foreign buyer ban came
affordable saw big increases in the
into effect at the end of October
number of properties sold, with
2018, it’s not surprising that the
sold compared to the same time
Papakura District seeing a 41.9%
number of properties sold fell when
last year.
increase annually and Franklin and
compared to last year.
ANNUAL ME DIAN PRICE CHANGES
$
0.8% $
-0.5%
$607,000
11.0%
$
9.6%
37.1%
$
GISBORNE
$
20.9%
MANAWATU / WANGANUI
7.0%
1.6%
MEDIAN DAYS TO SELL:
13.7%
34
16.5%
TASMAN
=
23.5%
$
SOUTHLAND
median house prices increase 8.8% to $695,000 the highest median price in 4 months,” she continues. The number of residential properties sold across New Zealand in October decreased by -4.0% from the same time last year to 6,801 (down from 7,083).
WELLINGTON
MARLBOROUGH
WEST COAST
“Additionally, Franklin District saw
16.3% HAWKE’S BAY
NELSON
8.2%
7.8%
BAY OF PLENTY
WAIKATO
TARANAKI
NATIONAL MEDIAN PRICE:
Source: REINZ Monthly Property Report 14 November 2019 .
9.4% NORTHLAND
AUCKLAND
Record Median Price
$
top of the South Island, Tasman and
across the country fell by -4.0%
with a 4.6% annual increase to
$
in Tauranga City. Similarly, at the
“The number of properties sold
highest median price in 28 months
0.0%
CANTERBURY
15.8% OTAGO
When you add this to the fact
Rodney Districts seeing increases
that there are around 7,800 fewer
of 25.6% and 13.8% respectively.
listings for the first 10 months of
Whereas more expensive areas
2019 when compared to the same
such as Auckland City and North
time last year, it’s no wonder sales
Shore City saw falls of -9.2%
volumes are down,” says Norwell.
and -3.0% respectively,”
“Importantly though, what we did
continues Norwell.
see was the lift in the number of
“As confidence continues to creep
properties sold when compared to
through, it’s likely we’ll see an uplift
September. Sales volumes were
again in November, before things
For New Zealand excluding
up 12.1% across the country month-
quieten down over Christmas and
Auckland, the number of properties
on-month, a pattern we expect
then pick up at the end of January
sold decreased by -5.5% when
to see at this time of the year,”
again,” concludes Norwell.
compared to the same time last
continues Norwell.
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AUCTION SECRETS
The expert secrets to winning an auction BY CHELSEA TROMANS, EDITOR, HOME BEAUTIFUL MAGAZINE
How to get the home you want when it goes under the hammer. Auctions are daunting, and it can be hard to not get caught up in the thrill of outbidding the competition. But with a good auction strategy at the ready, you’ll be well placed to be the proud owner of your dream home when that hammer drops, without overpaying.
While an auction may not be your
their mind or accept another offer
first choice when it comes to buying
without giving you the chance to
a house, there are a lot of benefits
negotiate. Auctions allow you to see
to you as the buyer. “Auctions can
your competition and know exactly
work for a buyer who is willing to
where you stand.
pay market value,” says Charles Tarbey, Chairman of Century 21 Australasia. “It’s definite and on the fall of the hammer it’s yours,” adds Mr Tarbey, who notes that during private sales there’s always a risk that the vendor may change
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Every auction is different, however there are some strategies that can help you go in strong and hopefully come out on top. Here, we share expert tips for winning an auction.
WAIT TO PLACE YOUR FIRST BID
BID WITH ROUNDED FIGURES
bidder. “Agents will always be
“Often it is best to let the bidding
It is best not to place bids of odd
updated on your position, without
start and move in at a later stage
numbers, such as $649,500, as
giving everything away,” says
with a strong bid,” advises
someone will always go the extra
Mr Tarbey. “I have seen many
Mr Tarbey. This gives you a chance
$500. Instead, go in with an even
instances where buyers were upset
to size up the competition, figure
number – and if your opponent
at missing out, making comments
out when the property is on the
tries to slow down the bidding
such as ‘I would have paid more if
market (once the reserve price has
with small increments, go in above
I knew it was going to sell for that
been reached), and it also weeds
them with that extra $500 or so, to
amount’ and blaming the agent,
out those who are just looking
immediately put yourself back into
but were coy when the agent was
for a bargain.
first place.
seeking information.”
MAKE YOUR FIRST BID A STRONG FIGURE THAT REFLECTS THE MARKET VALUE
GO IN WITH A COUNTER BID QUICKLY AND CONFIDENTLY
SET A BUDGET AND STICK TO IT
Bidding quickly after another bid
make at an auction is not setting a
In today’s transparent world where
is received lets people know you
maximum price they can afford to
property values and estimates can
are serious and will also help you
pay... and sticking to it. At the end of
be found on bank apps and the
identify who your competition is.
the day, as much as you may fall in
will have a clear idea of what the property is worth and will have come prepared to pay that price, just like you. It’s advisable to start near where you want to end and that way you knock out a lot of the low bidders immediately.
process, so you need to keep them
One of the biggest mistakes buyers
love with a property and as close as
like, there’s little point starting off too low. Everyone at the auction
available to guide you through the
TALK WITH THE REAL ESTATE AGENT
you might think you are to winning, you should never exceed your predetermined budget.
It can be tempting to hide away in the back corner and fly under the radar, but it’s important that the real estate agent and auctioneer see you and know that you’re a serious
ABOUT THE CONTRIBUTOR Home Beautiful magazine is chock-a-block with make-over ideas for indoors, outdoors, renovating, decorating plus food and entertaining, it’s a must-have mag and every home decorator’s best friend.
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Sometimes it’s easier to move. Whether you’re looking to buy, sell or rent, speak to your local C21 real estate professional.
C21.co.nz