Property Talk WINTER ISSUE July / August 2018
What’s Happening in the Auckland / Whangaparaoa Market? The trend in the median price has flattened over the past 18 months with the volume trend recently flattening from a falling trend. The days to sell trend continues to ease. The House Price Index is remaining fairly steady, remaining effectively the same as 12 months ago.
O
ur seasonally adjusted results tell us that, compared to what we expect when moving from May to June, the observed minute increase in median price was fractionally more than expected and the observed large decrease in sales count was slightly greater than expected. The current Days to Sell of 40 days is more than the 10-year average for June which is 34 days. The level of inventory available for sale currently sits at 21 weeks, the same as in June 2017. Compared to June 2017: • Median Price down 0.7% • Sales Count up 0.7% • Days to Sell increased 2 days Compared to May 2018: • Median Price up 0.5% • Seasonally adjusted median price up 0.5% • Sales Count down 25.0% • Seasonally adjusted sales count down 6.9% • Days to Sell stayed the same
The median sale price for Whangaparoa in June 2018 was $790000, with 55 sales over 52 days. Bindi Norwell, REINZ CEO, says “While the Auckland median has stabilised, we’re seeing an increase in the number of 1 and 2 bedroom houses sold and a decrease in the number of 3 bedroom houses as people look to downsize or get a foot on the Auckland property market. First home buyers are still dominant at open homes, especially with properties under $700,000. When
the price goes above that mark, attendee numbers drop, as some may not qualify for loans above that price. We are also seeing lower listing numbers, mostly due to seasonal effects. Well marketed, newly listed properties continue to get good attendance at open homes and are selling quite quickly. It also means that more vendors are choosing to go for a priced strategy as this can be an effective approach to gain interest from buyers.”
Median Sale Price for June 2018
$3,500,000
Tindalls Beach Stanmore Bay
$772,000
Matakatia
$745,000
Manly Whangaparaoa Gulf Harbour Army Bay Arkles Bay
$727,000 $790,000 $850,000 $950,000 $769,000
Disclaimer: Every effort has been made by Mike Pero Real Estate to ensure that the information contained in this publication is complete and accurate. Prospective purchasers and sellers should make their own enquiries to verify any information contained herein. While our information has been prepared with due diligence and care, Mike Pero Real Estate does not accept liability for any errors, mistakes, omissions, or inaccuracies whether expressed or implied.
0800000 000525 525 mikepero.com mikepero.com 0800
Annual Median Price Changes
REINZ Residential Statistics Report for June 2018
JUNE 2017-2018
Winter chill impacts real estate sales volumes, but not house prices, says REINZ. “While Jack Frost may have got his icy grip on sales volumes, he has not been able to extend this to prices as New Zealand’s median price increased by 5.7% year-on-year. The lack of housing supply continues to put pressure on prices in the majority of regions across New Zealand, with 12 out of 16 regions seeing a price increase since June last year. Until we solve the supply issue, house prices are likely to continue rising, particularly as the OCR remains low and the banks continue dropping interest rates,” says REINZ Chief Executive, Bindi Norwell. Median house prices for June 2018 were recorded as follows: Northland
$450,000
Auckland
$850,000
Waikato
$525,000
Bay of Plenty
$580,000
Gisborne
$330,000
Hawke’s Bay
$430,000
Manawatu/Wanganui
$300,000
Taranaki
$345,000
Wellington
$595,000
Nelson
$490,000
Increased
Marlborough
$440,000
Stable
Tasman
Decreased
West Coast
$210,000
Canterbury
$434,500
Record Median Sales
REINZ House Price Index The REINZ House Price Index for New Zealand, which measures the changing value of property in the market, increased 3.8% year-on-year to 2,706. The HPI for New Zealand excluding Auckland increased 6.7% from June 2017 to a new record high of 2,561. The Auckland HPI increased 0.9% year-on-year to 2,883 showing that despite the annual decrease in median price the market is still in a strong position. Again, the only region not to experience an increase was Canterbury, which experienced a decrease of 1.1% year-on-year. This month the Gisborne/Hawke’s Bay region had the highest annual growth rate of 14.0%, followed by Otago and Southland in second equal place with both regions seeing annual growth rates of 10.7%.
$571,000
Otago
$415,000
Southland
$249,000
NZ excluding Auckland
$460,000
NEW ZEALAND
$560,000
The REINZ House Price Index shows: New Zealand
+3.8% on June 2017
NZ ex Auckland
+6.7% on June 2017
Auckland
+0.9% on June 2017
Days to Sell The median number of days to sell a property nationally increased by 2 days from 36 days in June 2017 to 38 days in June 2018. For New Zealand excluding Auckland, the median days to sell increased by 1 day from 36 to 37. Auckland saw the median number of days to sell a property increase by 2 days to 40 days (up from 38 in June 2017), but it remained the same as last month. Regions with the biggest decrease in the median number of days to sell were West Coast -68 (from 128 to 60), Gisborne -6 days (from 39 to 33) and Taranaki -2 (from 37 to 35). Regions with the biggest increase in the median number of days to sell were Southland +8 (from 31 to 39), Tasman +7 (from 33 to 40) and Waikato +6 (from 36 to 42).
0800 000 525
mikepero.com
New Zealand NZ ex Auckland Auckland
-0.1% on May 2018 +0.3% on May 2018 0.0% on May 2018
For more REINZ HPI information, see https://www.reinz.co.nz/reinz-hpi Source: REINZ
MIKE PERO TURNS THE CLOCK BACK TO THE 70s’, 80s’ & 90s’ A stroll down memory lane is one way to describe the impressive lineup of motorcycles in New Zealand’s only classic Japanese motorcycle gallery. It’s the pride and joy of entrepreneur businessman Mike Pero. When he’s not at work as the Chief Executive of his real estate company he’s tinkering with bikes from a bygone era. Pero trained as a motorcycle mechanic and qualified after a fouryear apprenticeship at a Christchurch Suzuki dealership in the late 70s’. During that time and into the early 80s’ the young Mike Pero rose to become one of the country’s most prolific national riders. “It was a time in my life where I felt I could do no wrong on a motorcycle. At one stage, the season of 1981, I pretty much won every Grand Prix I entered. “These were days when there was good prize money in the sport. I could earn a month’s income in a weekend. I worked my days as a mechanic and then I would work in a Hornby cardboard factory from 6pm till 11pm Monday to Friday, to earn extra income. In the weekends, I’d go racing. I could work on my own motorcycles and I knew how to make them fast and reliable .” “The motorcycles of the 70s and 80s were very much different to today’s machines and that’s what makes them so cool. Obviously, there were no onboard computers, no traction control and our biggest leaps in technology were from points ignition to CDI (electronic ignition) and increased ground clearance for cornering. Most bikes of the 70’s and 80’s were air-cooled but there were a few exceptions like the Suzuki GT750 (Waterbus).
Admission to the gallery is free for Mike Pero Real Estate customers past, present and future. In 1981 Yamaha launched the Yamaha RD350LC. This was one of the first small performance machines to come out of Japan in huge numbers and it hugely appealed to the ‘Boy racers’ and the ‘production racers’, on the race tracks.” “Remembering that motorcycles were a cheap mode of transport and during this era motorcycle registrations were at an all-time high for New Zealand. At Shirley Boys High, my school, there were often close to 100 motorcycles proudly lined up outside the school gates. Riding a motorbike to and from school made you one of the cool guys.” “The Ministry of Transport had a fleet of motorcycles in the 70s’ and these ranged from Suzuki triples to Yamaha 650cc Cops Special’s to even, Yamaha RD350s.The funny part about the RD350s’ was that the Cops were often seen taking off from the traffic lights wheel-standing these pepi little two strokes. With the weight of all their gear it made for a very light front wheel. I owned several RDs’ in the 70s and 80s’ and while these were primarily for the race track, they were even more fun to ride on the road.” What you can expect to see in the gallery is a wide range of machines – two strokes, four strokes, 50cc machines and 1100cc. every bike has a specifications plaque and a story. “Most of these machines are on loan to the gallery by their owners. We’re delighted to be able to showcase these machines and retain the heritage for all to enjoy.” — Mike Pero
motorcyclegallery.co.nz | Fri - Sat - Sun : 10am - 4.30pm | Adult $15, Children FREE | 1 Hawthornden Road, Chch
0800 000 525
mikepero.com
STANMORE BAY
2
Two For One Deal!
MANLY
ID# RX1531147
3
A Cliff Top Gem! Development Potential!
RED BEACH
2
2
ID# RX1449260
4
2
Red Beach Stunner!
STANMORE BAY A Central Haven!
MANLY Cliff Top Do Up! Potential Plus!
ARMY BAY
2
1
ID# RX1462007
6
4
ID# RX1400564
4
4
Extended Living Potential!
Mike Broome Phone 021 790 665 or 0508 HIBISCUS
0800 000 525
mikepero.com
mike.broome@mikepero.com Mike Pero Real Estate Ltd Licensed REAA (2008) Statement relating to passing over of information - mikepero.com/receivinginformation