ISSUE 1 // // 2019 MARCH 2018
Newsletter Harcourts Property Focus. Harcourts Team Bringing you the latestGroup news, facts and figures from the world of New Zealand real estate. Team Group Realty Limited Licensed Agent REAA 2008
Living your best life Clear on the rules and got the money sorted? Is it time to start the hunt for your holiday home?
If you are one of the many Kiwis who are planning to invest in another property to use as an escape from your usual routine, then keep reading, as Harcourts has some advice on the first steps you should take to turn your dream into a reality.
clear on what it is that will make your new property somewhere you want to spend your downtime.
Jo-Anne Clifford Chief Operations Officer Harcourts International, says that the number one consideration should be location – she asks “is it close enough to your home to get away to on weekends and is it a place you'd be happy returning to year after year".
get out of your holiday home
There are many things to consider when searching for your ideal holiday home. It might include total seclusion from the world and come in the form of a cottage hidden away in the bush, or it might be a beach front property where you welcome friends, family and neighbours to kick back and socialise. What the decision will come down to, is a personal choice, so you need to be really
Our top tips for you to find the perfect place to meet your needs are:
1. Decide what you want to 2. Look at the land price trends for the area
3. Buy in a year-round destination
Harcourts insights have tracked that spring and summer are busy times for residential property, and the same is true when it comes to purchasing a holiday home. The Harcourts offices which service hot spots like Paihia, Mount Maunganui and the Marlborough Sounds experience a huge upswing in interest, particularly over the Christmas and New Year period. But while there are some obvious choices about desirable locations for
holiday makers, you still need to do your homework.
Clifford continues, "Look at the land price trends for the area you're looking to buy. If the land value hasn't increased in several years, and that doesn't look like it's changing, then you're probably not going to make a capital gain on your purchase. However, if the location is good – close to amenities and attractions – you can make a return by renting out your holiday home while you're not using it to help pay for ongoing and maintenance costs. Buying in a yearround destination will help to deliver more consistent returns. As ever evolving kiwis, our expectations of holiday homes are changing and when we rent a house to have a holiday in, more of us are looking to high-quality properties, rather than the rustic Kiwi bach or crib." Whatever you are after, talking to local Harcourts agents and property managers can help you on your way to living the kiwi dream!
Harcourts is the fastest growing and largest real estate group in New Zealand, with more than 900 offices across nine countries along with Harcourts is the fastest growing and largest estateproperty group inmanagement New Zealand,team. with more than 900 offices across nine countries alonginformation. with more than 6,600 more than 6,600 sales consultants and areal growing Please visit www.teamharcourts.co.nz for more sales consultants and a growing property management team. Please visit www.harcourts.co.nz for more information.
Interest Rates Lender
Flt.
1yr
2yr
3yr
5yr
Kiwibank Kiwibank Special ASB Bank BNZ – Std, FlyBuys BNZ – Spec Classic ANZ
5.80 4.80 4.94 5.24 5.84 - 4.05 4.19 4.49 5.09 5.80 4.45 4.69 4.89 5.49 5.90 4.69 4.79 4.99 5.39 - 4.05 4.29 4.49 5.79 4.55 4.79 4.99 5.69
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Wellington Property Statistics Source: New Zealand Property Report - January 2019
Property Asking Price
New Listings
Up 1.5%
Up 4.4%
Housing Stock
Inventory of Listings
Down 10.5%
LTA: 17
$656, 926
1,050
682
7 weeks
“It’s no shock that the Wellington region’s average asking price continued to rise and hit a new record in January, although the increase was relatively modest,” says Vanessa Taylor. “The Wellington region has traditionally been tightly held, with a scarcity in listings,” she says. The average asking price rose 1.5% in January to $656,926. There were 682 new listings in January (up 4.4% on January 2018) bringing the total number of homes for sale to 1,050. This was down 10.5% compared to January 2018. “The city of Wellington is such a tight market so it’s good to see a healthy injection of new listings, however, it’s not unexpected that in January the region set a record average asking price based on total stock numbers,” says Vanessa. realestate.co.nz
While every effort has been made to ensure that the information in the publication is accurate we recommend that before relying on this information you seek independent specialist advice.