Interest Rates Are Over 5% - Time To Act Now!
Firstly - I hope you and your homes survived the downpour yesterday! One months rain in one morning made a few properties inherit water features that weren't planned! Wowee wasn't it wild? We spent a good portion of the morning clearing drains and tidying up with our vendors. A good reminder to have the spoutings cleaned ready for winter!
Secondly - new CV's are out. Overnight you might see your house has gone up a significant amount! We've had a LOT of people contacting us asking if this is real? Some are, some are wildly off. While we can't change your rates going up, we can give you a much more realistic value, especially in this evolving market.
Thirdly - boarders are opening, and everything is being relaxed. Don't get us started on unvaccinated coming in....BUT it does mean that the current market blip is NOT going to last. Migration is a big player in house prices in New Zealand and particularly Auckland, where a lot of highly skilled jobs are usually filled by immigrants. We don't have a crystal ball, but expect change and in an upward movement very soon. No time is better than to act now.
We have some utterly awesome properties to show you this week. Michelle has been twisting Gavin's arm to get one of them too...can you guess which one?! Have a look on our latest listings page here >>
NEW CV's are out - But can you trust them? A lot is based on sales from last year...the market has moved. So get a more realistic and honest appraisal with no commitment by filling out our simple Online Appraisal Form.
Fill it out here and we'll let you know what your property is worth in todays market in 24 hours - no pressure and all free. We're proud to say we get within 5% of the sell price from our appraisal, including the market right now. That's what 10 years in the industry and area gives you.
We support and sponsor Forrest Hill School as one of our ways of giving back to the community. This year they're kicking off fundraising with THE BIG AUCTION 2022. Loads of awesome items are being auctioned here ....
Funds raised will go towards a big project creating a new Middle School playground as the old one is reaching the end of its life and repairing the old one is not a viable option.
This is an ambitious project and it's now the PTA's major focus for the next few years. This upgrade will improve the school and benefit many students over the next decade.
An exciting aspect of this project is that our students will be able to get involved in the planning of the new playground. It will be a widely inclusive process and we want our students to be a part of it, after all, it is their playground!
Our next project is a mighty one and we will need our community's help more than ever! We want to kick start our fundraising for 2022 with our inaugural ‘The Big Auction 2022’
Steady market presents opportunities
A notable cooling in the market is reflected in February’s Real Estate Institute of New Zealand data. This highlights opportunities for buyers and a more manageable market for consumers to transact in.
The median sale price increased 3.7% to $1,370,000 compared to February 2021, yet down 11.9% from the peak of $1,555,000 in November last year. It should be noted that recent market changes have impacted the various segments of the market differently. Sales over $2M have remained relatively strong with the percentage of sales over this threshold doubling for Harcourts Cooper & Co from 8% of total sales in February 2021 to 17% last month. This in turn also impacts the median sale price.
Sales volumes remain subdued with 260 February sales, 45% lower than February 2021. As a result, we are seeing the Median Days to Sell continue to climb, in February reaching 47 Days, up from 34 in January and the highest since February 2018.
Last week the Government announced changes to the much talked about CCCFA rules (Credit Contracts & Consumer Finance Act). Whilst these were significantly tightened less than 4 months ago there has been ample commentary and complaints that borrowers were being turned down for loans due to spending habits like takeaways. These changes are likely to come into effect in June and particularly benefit first home buyers.
The market continues to search for its new norm. Some exceptional results were achieved in the Harcourts Cooper & Co virtual auction room, where last week over 1,500 people tuned in to watch 50% of the properties sell under the hammer.
KEY TAKE OUT - Demand remains, yet the choice for buyers is up with more stock on the market.
Market update for North Shore & North West market based on REINZ market statistics for February 2022, released 14th March 2022.
We have some great properties that aren't quite on the market yet - this is a great time to view them privately and snag a good deal!
Mairangi Bay - 4 bedrooms, 2 bathrooms, freehold site
Hillcrest - 3 bedrooms, 2 bathrooms, 2 living, Freehold Title
Milford - 3 bedrooms, 1 bathroom, 2 toilets - a tidy modernised property.
Oteha - 3 bedrooms, 2 bathrooms, 1 lounge, double garage. Single level brick and tile. Freehold Title.
Jump the queue and chat with Team Roberts on 021 150 1476 to get in for a private viewing this coming week!
Interest rates - much like the planes in the sky - on the rise! Talk with us and we can help you get what is best for you and your circumstances.
1 year - 3.99%
2 years - 4.55%
3 years - 4.75%
4 years - 4.99%
5 years - 5.09%
We would love to help you with your property needs and that includes helping you with finances - we have trusted partners that we can introduce you to.
If you are looking to sell, buy or interested in a free property appraisal of your property, please do not hesitate to contact us.
Who saw us on TV? Neat ah? Here it is again if you missed it.
