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 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
SUMMER 2022 ISSUE OF
C21 MARKET PULSE
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
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POWDER ROOM POWER
Century 21 launches nationwide franchise drive
Why you need a powder room
Century 21 New Zealand, Tim Kearins
Home Beautiful
PROPERTY MARKET UPDATE
04
MORTGAGE POSSIBILITIES
Prices continue to rise - growth rate shows signs of
Opportunities to secure a mortgage still plentiful
easing
Cameron Brewer
07
08
REINZ CEO, Jen Baird
RENTERS BECOMING BUYERS?
06
SOLD HAMMER GAURANTEE 15 features that will sell your home
Renters still keen to buy first homes
Home Beautiful
Century 21 New Zealand, Tim Kearins
C21 MARKET PULSE
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CENTURY 21
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C21 NEW ZEAL AND NEWS
CENTURY 21 LAUNCHES NATIONWIDE FRANCHISE DRIVE Century 21 New Zealand has ambitions to open more franchised offices, carrying the well-known global brand, throughout the country. There remain many untapped locations, which we are now actively working on. While Century 21 is not
BY TIM KEARINS,
CENTURY 21 NEW ZEALAND
With its global reach, new look
company is part New Zealand
and new direction, he says today’s
owned, meaning more decision-
Century 21 is a very attractive
making on this side of the Tasman,”
proposition for those keen to
says Mr Bal.
establish a start-up office or wanting to rebrand their existing real estate agency.
However, it’s not just the city offices benefitting from being in the Century 21 family.
One of Century 21’s best performing offices in recent years has been Century 21 The Moshi
Rebecca Fraser and Paul Wheeler have made a big splash and achieved a lot for clients since
in every New Zealand town, let’s
Group in central Wellington.
not forget we remain the largest
Principal and owner, Alen Moshi,
Te Awamutu over two years ago. In
real estate company in Asia-Pacific,
says the key to his team’s ongoing
fact, for the first quarter of this year,
with the brand internationally well
success is being backed by the
the Waikato franchise was ranked
recognised as a leader.
biggest and most successful real
number one across the country.
Century 21 is strongly associated
estate brand in the world.
with unbeatable service and
“Being a Century 21 franchise
in the likes of Waikato, but we’re
success. Mr Kearins says New
means we have the best training,
equally keen to grow and develop
Zealand’s existing offices are all
systems, and the most technology
other key areas of the country. As
strong performers, with key city
savvy agents ready to engage and
well as franchise opportunities
based ones often making it onto the
work. The brand, and all the support
for experienced agents and
list of Top 21 offices across Century
behind it, enables us to deliver
businesspeople, we continue to
21 Australasia.
some fantastic results for our
seek keen salespeople.
We’re seeking high-performing
clients,” says Mr Moshi.
salespeople, or current business
Gary Bal and Iresh Tennakoon
the drive and motivation to thrive in
owners, looking to take their
opened Papakura’s Century 21
what is an incredibly exciting time
real estate career to the next
Local Realty in 2019. The franchise
for the real estate industry.
level. There are some wonderful
owners and office have since
opportunities out there.
enjoyed considerable success and
Given the pandemic, more ex-pats
profile.
and foreign investors view New
“We were attracted to the positive
New Zealand - (0274) 495-547
Zealand as a safe bet. Subsequently,
traction and cut-through the
tim.kearins@century21.co.nz
we’re seeing increasing searches
Century 21 brand has been getting,
of our local listings via Century
including its strong digital presence.
21’s global website which can be
We also liked that fact that the
Century 21 is a growing powerhouse
We are on the hunt for Kiwis with
www.c21.co.nz/joining-century-21 or contact Tim Kearins - Century 21
translated into multiple languages. C21 MARKET PULSE
buying Century 21 Gadsby Realty in
02
CENTURY 21
WANT TO LIVE
DIFFERENTLY? WE CAN HELP YOU GET THERE.
If you’ve been thinking of selling, now is the perfect time to list your property. Contact us today for your FREE property appraisal.
Visit: C21.co.NZ/sell
P R O P E R T Y M A R K E T U P DAT E
PRICES CONTINUE TO RISE - GROWTH RATE SHOWS SIGNS OF EASING
BY J E N B A I R D, REINZ CEO
Property prices climbed further in November, early signals suggest price growth will continue though more moderately, 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. Median prices for residential
Auckland City increased 23.2%
• Hawke’s Bay increased 25.8%
property across New Zealand
on last year to $1,540,000,
from $660,000 to $830,000
increased by 23.8% from $747,000
Franklin District increased 22.0%
in November 2021. Additionally,
in November 2020 to $925,000
to $980,000, Manukau City
Central Hawke’s Bay District
in November 2021 — a new record
increased 28.0% to $1,235,000,
($660,000) and Napier City
high. While the median house
North Shore City increased 26.9%
($830,000) reached record median
price for New Zealand excluding
to $1,555,000, Papakura District
highs.
Auckland increased annually by
increased 51.9% to $1,173,000,
26.0% from $615,000 to a new
Rodney District increased 30.3%
record of $775,000.
to $1,310,000 and Waitakere City
There was a monthly increase in
increased 32.3% to $1,199,000.
• West Coast increased 42.9% from $245,000 to $350,000 in November 2021. Additionally, Buller District ($360,000) reached a
median prices of 3.7% across New
In addition to Auckland, the
Zealand and 3.2% for New Zealand
following regions reached record
excluding Auckland.
median prices in November:
The median property price in
• Northland increased 26.5%
November 2021. Additionally,
Auckland increased 26.2% annually
from $589,000 to $745,000 in
Christchurch City ($700,500),
from $1,030,000 in November
November 2021. Additionally,
Waimakariri District ($732,000) and
2020 to $1,300,000 in November
Far North District ($817,500)
Selwyn District ($870,000) reached
2021 — another record median. Of
and Kaipara District ($905,000)
record median highs. Selwyn
the 24 territorial authorities (TAs)
reached record median highs.
District has the longest record
that had record median prices, a quarter were in Auckland. All seven Auckland districts showed an annual median price increase and six reached median highs, with only the Franklin District bucking the trend.
• Waikato increased 27.6% from $670,000 to $855,000 in
record median high. • Canterbury increased 31.4% from $525,000 to $690,000 in
median streak of all the TAs, with seven consecutive records.
November 2021. Additionally,
Jen Baird, Chief Executive Officer
Hamilton City ($881,000), Thames-
of REINZ, says: “The market has
Coromandel District ($1,130,000)
settled back into its stride —
and Waikato District ($950,000)
returning to business as near-usual
reached record median highs.
across the board. November shows
C21 MARKET PULSE
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CENTURY 21
ANNUAL ME DIAN PRICE CHANGES $
$
Record Median Price
26.5%
26.2%
NORTHLAND
AUCKLAND
NATIONAL MEDIAN PRICE:
$
$925,000 23.8%
9.9%
BAY OF PLENTY
27.6%
29.2%
24.8%
25.8%
MANAWATU / WANGANUI
21.8%
14.9%
19.5%
TASMAN
WELLINGTON
MARLBOROUGH
31.4%
WEST COAST
$
$
HAWKE’S BAY
NELSON
42.9%
$
GISBORNE
TARANAKI
29
20.0%
WAIKATO
26.2%
MEDIAN DAYS TO SELL:
$
$
CANTERBURY
9.6%
16.1%
SOUTHLAND
OTAGO Source: REINZ Monthly Property Report 13 December 2021 .
an active market where property
enduring strength of property
Zealand property market, the
prices continue to increase,
prices means some vendors may
Reserve Bank’s OCR increases
stimulated by demand as New
be less inclined to act now, without
and growing challenges around
Zealand prepared to leave Alert
fear of missing their preferred
financing as banks tighten their
Levels behind.”
prices later. While the supply versus
lending criteria are aligning. While
demand imbalance continues to
the longer-term impacts of these
push prices upwards, across New
changes will play out over the
Zealand inventory levels increased
coming months, the strength of the
5.1% annually and listings increased
market suggests that the growth
9.0% — providing buyers more
trend will continue — albeit with a
choice and giving reluctant sellers
more moderate trajectory,” Baird
confidence that if they take their
adds.
Across New Zealand, there was an annual increase of 23.8% in median prices — with a new record high of $925,000 in November 2021 and an increase of 3.7% monthon-month. We’re seeing a firm property market, with all regions experiencing annual growth and 24 territorial authorities reaching new record medians. FOMO — fear of missing out — is beginning to dissipate. The
current property to market, they will be able to buy their next one. “Despite steady growth, headwinds are gathering. Government measures to moderate the New
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CENTURY 21
Click here to read the full report.
RENTERS BECOMING BUYERS?
RENTERS STILL KEEN TO BUY FIRST HOMES
BY TIM KEARINS,
CENTURY 21 NEW ZEALAND
Another OCR rise is not the end of the world. That’s because for the likes of first-home buyers paying a mortgage remains comparable, or even cheaper, than paying the record high rents we’re seeing nationwide. In late November the Reserve Bank lifted the Official Cash Rate by 25 basis-points to 0.75% - marking the second consecutive OCR hike by the central bank in over seven years. While banks have already increased their interest rates in anticipation, they’re nonetheless heading on an upwards track. That will only see buyers more motivated to act, making the most of low interest rates this summer. People are waking up to the fact that they can either buy and set their interest rate at 4.5% or wait and pay 6% - which is 33.3% more! Further, many pundits doubt property prices will drop, so waiting is now not much of an option.
Trade Me last month released its latest Rental Price Index which confirmed national rents hitting new highs, with the median weekly rent on its site at $560 in October – up 8% in 12 months. At the same time Auckland’s median advertised weekly rent hit $600.
next two or three months. This latest Reserve Bank hike will not deter Kiwis from purchasing property and locking in some good, fixed rates. Homeownership remains a safe long-term bet. It is a proven way to help maintain people’s living standards and lifestyle later in life.
Rents are naturally increasing as
That mere fact trumps a lot.
demand remains up with supply down. Property prices also continue
www.century21.co.nz
to rise. However, we’re at least now seeing the likes of many more townhouses coming onto the market, providing first-home buyers a relatively affordable entry point. Century 21 agents and offices are now seeing a big increase in listings as both the temperatures and Covid-19 restrictions start lifting. Along with interest rates still relatively low, buyers’ fear of missing out, or FOMO, continues to drive relatively high demand and sale prices. Those contemplating selling their properties can now also see it will be a strong summer, while 2022 remains not so clear. Hence Century 21 is expecting many Kiwis to push play on selling their property in the
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Contact: Tim Kearins - Century 21 New Zealand - (0274) 495-547
POWDER ROOM POWER
WHY YOU NEED A POWDER ROOM BY HOME BEAUTIFUL A powder room adds flexibility to your entire household – along with a little va-va-voom!
space your guests will remember more than others – good or bad so it's important to give it proper attention. Here are our 4 tips to a perfect
You might be wondering what
powder room:
you need one? Turns out they're not a new invention, simply a chic way of looking at an age-old convenience in your home.
Too much clutter can undermine the efficiency of a powder room, so be sure to avoid decor and items that get in the way of form or function. Assess your available space to
all the fuss is about with powder rooms? What are they and why do
4. KEEP IT SIMPLE
include a small basin, along with a
1. HAVE FUN WITH IT
surface for makeup and utility, good
Go all out with your decorating by
lighting and a generous mirror, and
bringing in wallpaper, statement
perhaps a potted plant or bud vase if
tapware, generous mirrors and a
space allows.
fabulous light fitting. In this small
A powder room is a smaller, second
space you can afford to splash out a
bathroom usually situated adjacent
little.
to your living area and without a shower or bath included in the space – essentially a toilet and vanity for quick visits and touchups – as you would use it at the theatre or a restaurant.
2. ADD PERSONAL TOUCHES A pot plant, candle, pretty dish to pop rings in whilst washing your hands, and your very best handtowels are all essential
Perfect for avoiding loo queues in
elements to add a little luxury and
a busy household, guests can also
make your powder room shine.
use a bathroom without trekking through your entire home – which means it pays dividends to have it looking lovely at all times, and to give it a little decorating love. In the same way you can tell a lot about a restaurant from its rest rooms, often forgotten in terms of decorating, your powder room is a
3. GIVE IT CONSTANT ATTENTION Keep a stash of cleaning cloths and products handy (yet out of sight) in your powder room. Guests to your home will almost certainly visit it, so a quick brush, flush and wipe down is all it takes in this small space to make a lovely lasting impression.
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A striking Hamptons-style powder room echoes the decor of the rest of this waterfront home. Photographer: Louise Roche | Stylist: Kylie Jackes
Click here to read the full article
MORTGAGE POSSIBILITIES
OPPORTUNITIES TO SECURE A MORTGAGE STILL PLENTIFUL Despite rising interest rates and banks applying greater scrutiny to loan applications, plenty of avenues remain for household borrowers to secure a mortgage, says a leading financier. “Sadly, too many young Kiwis are despondently walking out of banks and giving up. First-home buyers are getting rejected because they don’t quite meet the servicing requirements, or they might not have a 20% deposit. They need to
rates are still relatively low and
and get over the line. In fact, it’s
so the opportunity of locking in a
more important than ever before,”
great rate this summer should not
says Mr Kearins.
be overlooked. Let’s not forget the Reserve Bank has made it absolutely clear that rates will keep going up,” he says.
The Century 21 financier says in recent months many more Kiwis have been heading to more flexible lenders, with brokers now seeing
Century 21 Financial works with
non-bank lenders and the smaller
the big retail banks, smaller banks,
banks offering more competitive
credit unions, and non-bank
rates than the big banks.
lenders. It offers a full range of financial and mortgage broking services, with Century 21 real estate offices nationwide also referring clients for financial advice and lending.
“The good news is there remains plenty of can-do lenders prepared to back good people. At the same time, it’s critically important Kiwis get the right advice fit for their personal financial situation. It’s all
know, however, they have by no
Tim Kearins, Owner of Century 21
about making the best choices to
means reached the end of the road,”
New Zealand, is on a recruitment
achieve the greatest outcomes, and
says Julius Capilitan, Managing
drive, searching for franchise
in many respects this summer may
Director of Century 21 Financial
owners to set up new Century 21
in fact provide a unique opportunity
New Zealand.
offices in key parts of the country.
to do just that,” says Julius
He says Century 21 Financial
Capilitan.
Mr Capilitan says mortgage brokers like Century 21 Financial can deliver greater borrowing flexibility, better interest rates, and do all the running
only strengthens his company’s proposition in the local real estate
www.century21financial.co.nz
marketplace
around – making short work of what
“Century 21 Financial builds on our
Julius Capilitan – Managing
can be a daunting and disheartening
global brand and reputation for
Director - Century 21 Financial NZ
process for people.
superior advice and service. Our
– (027) 2777-352
“We pride ourselves on helping people to navigate and secure a life-changing outcome. First home buyers, and even next home buyers, shouldn’t give up. Interest
offices love working with Julius to help their clients secure their dream property. It’s a big plus when an agent can make an instant referral to help buyers secure a mortgage
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Tim Kearins – Century 21 New Zealand - (0274) 495-547
SOLD HAMMER GAURANTEE
15 FEATURES THAT WILL SELL YOUR HOME You don't need a home stylist to increase your property appeal. In fact, the features that most impress potential buyers might surprise you.
BY HOME BEAUTIFUL
that investing time, energy and if
value of a property, with buyers
necessary, cash, into presenting a
looking favourably on established
home as clean and tidy is essential
gardens featuring mature plants and
before bringing it to market.
trees.
After a year of being confined to
The research is taken from a wider
our homes due to the Covid-19
study into renovation and interior
pandemic, it can come as no
design trends and other surprising
Self-contained dwellings, loft
surprise that buyers are looking for
buyer turnoffs and demonstrates
conversions and open plan kitchen-
more available space in a new home
that it pays to put in the effort to
dining spaces were the top three
both indoors and out, with 29% of
present a property well for sale.
improvements buyers were looking
buyers wanting more outdoor space
for this year, along with properties
and 25% looking for bigger homes
being clean and well presented.
overall.
Newly-renovated kitchens and
THE RISE OF THE HOME OFFICE
bathrooms were also high on the wishlist, while outside it was new driveways, landscaped gardens, veggie patches and home offices that had buyers excited. But the biggest turnoff was dirty homes. Even if you are not planning to renovate or upgrade your home for sale, according to Rated People's recent Home Improvement Trends Report, a home that presents as unclean would stop almost half (43%) of buyers from inspecting it and of those who did view an unclean property, 61% would put in a lower bid to purchase it. Scuff marks, mould or cracks in walls, bad smells and dirty kitchens were all cited as off-putting to potential buyers. With a whopping 44% of homeowners planning to paint some part of their home by the end of this year, there can be no denying
These neglected home improvements detract the most buyers: • Signs of damp/mould
With the return to work being
• Cracks in walls
staggered and, in some cases stalled
• Mess and clutter inside
entirely, homeowners and potential
• Scuffed paintwork and marked
buyers alike are looking to improve
walls
their home office setup for the long
• No double glazing
term. 41% of those working from
• Peeling wallpaper
home confessed they still don't have
• Dirty bathroom
a proper home office desk and 39%
• Rubbish or debris in the front
are without a proper office chair. 29%
garden/in front of the house
of people working from home had
• Broken or missing fence panels in
to clear toys from their workspaces
the garden/outside space
daily, and 24% reported being
• Bad smells inside
embarrassed by their background on
• Dirty kitchen
video calls.
• Outdated decor
Outside, the addition of a swimming pool was by far the most valueadding garden improvement, with an outside home office, garden room or gym the next most desirable additions. Bi-fold doors with a view to the garden and outdoor entertaining area and decks were also high on the list to increase the C21 MARKET PULSE
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CENTURY 21
• Dirty/stained furnishings (carpet, curtains and sofas) • Overgrown garden • A dirty interior that hasn't been cleaned • Broken/damaged windows and fixtures such as kitchen cupboard doors
Click here to read the full article