Steve Fejos’s
NOVEMBER 2011
Well informed home buyers focusing on value Commenting on the latest Real Estate Institute of New Zealand (REINZ) data on the New Zealand housing market, Chief Executive Helen O’Sullivan said that “The volume data indicates that the New Zealand real estate market is in better shape when compared with this time last year with volumes up over 20% compared to September last year and a continued reduction in the number of days to sell. That improvement is flattening out with a weaker than usual seasonal lift from August volumes. There is clear evidence from across the country that buyers are very focused on value and are well informed about what they can afford and are prepared to pay, we’re seeing a very interesting market with listings improving though still reported as tight, plenty of buyer interest but only on a very rational basis – there is no appetite on the part of buyers to overpay or rush to purchase.” Days to sell improving The national median ‘days to sell’ (measuring the number of days from listing date to unconditional date) improved by 2 days from 39 days in August to 37 days in September. The days to sell were at 43 in September 2010. This is the shortest number of days to sell since March 2010, and continues the trend evident over the winter of a shortening in the number of days to sell. Throughout the local region the days to sell figure improved by six days from 44 in August to 38 in September. This is also a one day improvement compared to September 2010.
Win Dinner for 2 at Logan Brown Restaurant Cnr Cuba and Vivian Streets Tel: 801 5114
Courtesy of Logan Brown Restaurant you are offered the opportunity to win dinner for two to the value of $250.00 To go into the draw fill in your name address and telephone number and mail your Newsletter by the end of the month to: “RE/MAX Leaders Logan Brown contest” PO Box 24262 Manners Street Wellington 6142 To email your entry: Email remax@homenet.co.nz and include the following details: Subject: Logan Brown contest Email: Your name, address, and contact phone number and the name of the agent who sent you the newsletter. Newsletter sent to me by
of RE/MAX Leaders
Name Address Telephone
Email Last month’s winner was: J Chin of Newlands
Real estate and the law
Landlords visiting a tenanted property There is often confusion regarding the rights of landlords visiting tenanted properties. The Department of building and Housing has provided the following guidelines. A landlord may enter into a property with the consent of the tenant, with notice, pursuant to a Tenancy Tribunal order, or without consent or notice in an emergency. Landlords do not need to give notice to enter onto the grounds or into facilities. Facilities include all facilities provided by the landlord for the use and enjoyment of the tenant other than as a part of the premises that are the subject of the tenancy agreement. These may include such things as land or buildings for storing or parking motor vehicles, laundry facilities, cooking
facilities, lifts and stairways, rubbish storage and disposal facilities, toilet and washing facilities, appliances for heating or cooling the property, communication facilities, recreational areas, lawns, gardens and outhouses. Although landlords do not need to give notice to enter onto the grounds or into facilities, they do have to avoid unreasonably interfering with the tenant’s peace, comfort, and privacy in use of the property. To inspect a property, a landlord must give at least 48 hours’ notice. This cannot be given more that 14 days ahead of time. Only one inspection can be done in any period of 4 weeks. Inspections must be conducted between 8 am and 7 pm. Source: www.dbh.govt.nz
WELLINGTON REGIONAL COMPARISON
Wairarapa Wellington Central Wellington West Wellington East Wellington South Wellington North Pukerua Bay/Tawa Lower Hutt Upper Hutt Otaki/Paekakariki Levin
38 54 32 21 33 65 68 82 32 71 14
46 38 35 18 25 61 56 114 49 74 32
MEDIAN DAYS TO SELL OCT 10 SEPT 11
39 45 27 29 23 30 47 43 52 53 94
38 56 27 26 25 29 43 34 42 61 40
MEDIAN SALE PRICE OCT 10 SEPT 11
$000s $222 $467 $483 $450 $525 $415 $349 $353 $342 $329 $192
$000s $220 $502 $487 $475 $507 $462 $399 $341 $320 $339 $181
Wellington Region Median Sales Price MEDIAN SELL PRICE
AREA
SALES OCT 10 SEPT 11
Comparative sales figures compiled from the Real Estate Institute of NZ statistics
PHONE 04-475-5021 CELL PHONE 0275-621-777 EMAIL sfejos@leaders.co.nz Disclaimer: All the information published in Property Update is true and accurate to the best of the publisher’s knowledge. No liability is assumed by RE/MAX Leaders, nor the publisher, for any losses suffered by any person or organisation relying directly or indirectly on this newsletter. Leaders Real Estate Group represented by: Leaders Real Estate (1987) Ltd, Northside Realty Ltd, Villa Real Estate Ltd. Licensed under the Real Estate Agents Act 2008
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Recent Wellington Residential Property Sales Street Name
Suburb
Aro St Adams Tce Emerson St Adelaide Rd Russell Tce John Sims Dr Mckinley Cres Karepa St Anaheim Pl Orange Gr Waverton Tce Waverton Tce Sedgley Gr Chartwell Dr Silverstream Rd Richmond Hill Trinidad Cres Curacao Pl Evans Bay Pde Tapiri St Waipapa Rd Evans Bay Pde Cluny Ave Horokiwi Rd Brighton St Danube St Severn St North Buckley Rd Kellsmere Cres Stewart Dr Burgess Rd Kipling St Stephen St Stephen St Erris St Frankmoore Ave Clifford Rd Helston Rd Bannister Ave Birch St Truscott Ave Middleton Rd Morgan St Earp St Karori Rd Hathaway Ave Saddleback Gr Campbell St Chamberlain Rd Nottingham St Standen St Cooper St Campbell St Futuna Cl Chamberlain Rd Hauraki St Waikare St Campbell St Duthie St Kano St Karori Rd Makara Rd Collier Ave Parkvale Rd Central Tce Central Tce North Tce Onslow Rd Clark St Agra Cres Izard Rd Waru St Lucknow Tce Onslow Rd Overtoun Tce Manitoba Pl
Aro Valley Aro Valley Berhampore Berhampore Berhampore Broadmeadows Brooklyn Brooklyn Churton Park Churton Park Churton Park Churton Park Churton Park Crofton Downs Crofton Downs Glenside Grenada Village Grenada Village Hataitai Hataitai Hataitai Hataitai Highbury Horokiwi Island Bay Island Bay Island Bay Island Bay Island Bay Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Johnsonville Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Karori Kelburn Kelburn Kelburn Khandallah Khandallah Khandallah Khandallah Khandallah Khandallah Khandallah Kilbirnie Kingston
SOLD
Beds
RV
Street Name
Suburb
$765,000 $480,000 $525,000 $643,000 $670,000 $375,000 $505,000 $525,000 $338,000 $370,000 $585,000 $596,000 $830,000 $371,000 $438,000 $466,000 $365,000 $482,775 $950,000 $341,000 $596,000 $495,000 $618,000 $700,000 $451,000 $480,000 $639,000 $660,500 $927,500 $255,000 $299,000 $350,000 $370,000 $389,000 $410,000 $412,000 $425,500 $438,000 $470,500 $480,000 $600,000 $655,000 $660,000 $280,000 $285,000 $385,000 $430,000 $455,000 $455,000 $506,000 $535,000 $561,000 $571,025 $585,000 $598,500 $618,000 $655,000 $697,000 $750,000 $815,000 $475,000 $545,000 $242,000 $478,200 $1,110,000 $1,475,000 $335,000 $465,000 $490,000 $531,600 $645,000 $940,000 $1,000,000 $383,600 $902,000 $467,500
2 2 4 3 4 3 5 3 3 3 4 5 5 2 3 4 3 4 3 2 3 4 3 4 3 3 3 5 5 3 2 2 3 3 3 3 4 3 3 3 5 5 4 2 2 3 3 3 3 3 3 3 4 3 3 3 3 4 4 5 3 3 2 3 5 4 2 4 3 3 3 5 4 3 3 3
$560,000 $420,000 $600,000 $500,000 $590,000 $415,000 $520,000 $510,000 $335,000 $380,000 $580,000 $620,000 $790,000 $465,000 $435,000 $505,000 $380,000 $470,000 $1,650,000 $430,000 $590,000 $540,000 $630,000 $710,000 $400,000 $520,000 $520,000 $640,000 $1,025,000 $405,000 $325,000 $370,000 $375,000 $390,000 $440,000 $385,000 $425,000 $410,000 $450,000 $480,000 $640,000 $670,000 $670,000 $310,000 $275,000 $380,000 $530,000 $480,000 $455,000 $560,000 $490,000 $530,000 $450,000 $540,000 $500,000 $680,000 $580,000 $620,000 $760,000 $800,000 $485,000 $560,000 $295,000 $425,000 $880,000 $1,360,000 $325,000 $545,000 $650,000 $530,000 $650,000 $750,000 $910,000 $370,000 $890,000 $440,000
Havelock St Maple Gr Rawson St Queens Dr Totara Tce Strathavon Rd Rotherham Tce Byron St Townsend Rd Darlington Rd Brussels St The Ridgeway Wallace St Earls Tce Ellice St Brougham St Earls Tce Armour Ave Austin St Brougham St Derby St Ruskin Rd Glenwood Gr Black Rock Rd Colchester Cres Lyndfield Lane Archbold St Ring Lane Bancroft Tce Hall St Rintoul St Coromandel St Coromandel St Constable St Owen St Princess St Chelmsford St Kenya St Pomare St Bankot Cres Satara Cres Collingwood St Ngatoto St Heke St Amapur Dr Colway St Randwick Rd Bank Rd Bedford St Oriental Pde Mark Ave Maldive St The Road Maida Vale Rd Maida Vale Rd Falkirk Ave Houghton Bay Rd Bann St St Catherines Tce Redwood Ave Molesworth St Hobson St Burnell Ave Edward St Bolton St The Terrace Gilmer Terrace The Terrace Allenby Tce Hereford St Cecil Rd Cheshire St Edgeware Rd Stratford Way Hereford St
Kingston Kingston Linden Lyall Bay Miramar Miramar Miramar Miramar Miramar Miramar Miramar Mornington Mt Cook Mt Victoria Mt Victoria Mt Victoria Mt Victoria Mt Victoria Mt Victoria Mt Victoria Mt Victoria Newlands Newlands Newlands Newlands Newlands Newlands Newlands Newlands Newtown Newtown Newtown Newtown Newtown Newtown Newtown Ngaio Ngaio Ngaio Ngaio Ngaio Ngaio Ngaio Ngaio Ngaio Ngaio Northland Northland Northland Oriental Bay Paparangi Rangoon Heights Roseneath Roseneath Roseneath Seatoun Southgate Southgate Tawa Tawa Thorndon Thorndon Thorndon Wtn Central Wtn Central Wtn Central Wtn Central Wtn Central Wtn Central Wilton Wilton Wilton Wilton Wilton Wilton
Chris Ritchie
Barrister & Solicitor In legal matters your choice of lawyer matters
SOLD
Beds
RV
$507,500 $340,000 $286,000 $705,000 $445,000 $451,000 $474,000 $475,000 $575,000 $345,000 $415,000 $330,000 $525,000 $370,000 $895,000 $575,000 $883,000 $940,000 $970,000 $1,525,000 $275,102 $319,000 $321,000 $380,000 $390,501 $391,500 $412,000 $475,000 $555,000 $265,000 $248,000 $440,000 $555,000 $566,000 $580,000 $501,500 $400,000 $460,000 $480,000 $495,000 $511,000 $542,500 $550,000 $647,000 $660,000 $931,200 $441,000 $460,000 $487,000 $870,000 $377,650 $490,000 $2,260,000 $408,000 $420,000 $840,000 $480,000 $535,000 $472,000 $480,000 $558,755 $975,000 $1,020,000 $150,000 $195,000 $200,000 $227,500 $467,500 $747,500 $435,000 $445,000 $487,000 $505,000 $596,000 $276,500
4 3 3 4 3 3 3 3 4 2 2 2 4 2 3 3 2 4 4 3 2 3 3 3 3 3 3 4 4 1 2 4 3 3 3 3 3 4 3 3 3 3 1 5 5 4 2 4 4 3 3 5 5 2 2 3 4 3 4 5 2 5 3 1 1 2 1 2 11 3 3 2 3 3 2
$420,000 $345,000 $475,000 $680,000 $385,000 $430,000 $415,000 $490,000 $450,000 $335,000 $405,000 $425,000 $570,000 $390,000 $830,000 $570,000 $920,000 $1,225,000 $1,175,000 $1,525,000 $285,000 $285,000 $340,000 $350,000 $420,000 $395,000 $390,000 $490,000 $540,000 $265,000 $380,000 $455,000 $540,000 $500,000 $510,000 $460,000 $400,000 $570,000 $475,000 $475,000 $560,000 $520,000 $700,000 $620,000 $660,000 $780,000 $415,000 $540,000 $520,000 $950,000 $380,000 $550,000 $1,625,000 $403,000 $418,000 $820,000 $490,000 $500,000 $430,000 $470,000 $480,000 $820,000 $930,000 $147,000 $240,000 $240,000 $290,000 $460,000 $900,000 $415,000 $435,000 $430,000 $525,000 $525,000 $295,000
Personal and professional legal service at competitive rates. Meet me at the office or if it’s more convenient I can come to you. Leaders Building, 15 Brandon Street, Wellington. Phone 04 472 9711. Fax 04 472 9223. mail@chrisritchielaw.co.nz www.chrisritchielaw.co.nz
PROPERTY MANAGEMENT LICENSED UNDER REA ACT 2008