Property Market Update – October 2023 While a new government goes through the process of “finalising” its make-up and direction for the next three years (and possibly more), the real estate market continues to show signs of strengthening. In summary, the growth is positive but measured. The REINZ reports that October saw steady activity and although overall sales numbers suffered a slight decrease in volume…
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What is a Cross Lease?
What is a Cross Lease? A cross-lease is a type of property ownership where multiple parties own a single piece of land in undivided shares. Each party has the exclusive right to use specific parts of the land (eg, your house and garden) and shared rights over other parts (ie, the shared driveway), as set out in a lease agreement that is registered over the…
Property Market Update September 2023
Property Market Update September 2023 I held off writing this report until after the weekend of the 14th of October, and what a weekend it was. Great sporting results and the major event of the ELECTION provided us with a new government and a new Prime Minister. Back to things real estate. Toward the very end of September, we had a noticeable slowing of the…
What a National Party Win Means for the New Zealand Property Market
What a National Party Win Means for the New Zealand Property Market For some time now, the thought of a National Party and ACT Government in New Zealand has meant that property investors would rub their hands together in glee over proposed rewinding of Labour Government tax changes, and a likely result in house price rises, in particular, ‘existing’ investment properties. This would also create…
The 3 Most Important Things You Need To Know When Buying Your First Property
The 3 Most Important Things You Need To Know When Buying Your First Property With house prices having reached their low point, and with mortgage rates settling down it’s a good time for first-home buyers to consider getting into the market. Here are some tips, before you take the plunge! Buying a property is a bit like shopping. How many times have you gone shopping…
The Property Market Continues to Stabilise
The Property Market Continues to Stabilise The August report from the Real Estate Institute of New Zealand (REINZ) shows steady activity in the housing market compared to the previous year and July 2023. In the Auckland region, the sales count year-on-year was up by 18.2%, indicating a strong increase in the number of sales. The median days to sell within the Auckland region have shortened…
Should You Buy a Property With a Body Corporate
Should You Buy a Property With a Body Corporate We often get negative feedback from potential buyers about the cost of the body corporate fees when we are marketing apartments. What is a body corporate? A body corporate is a legal entity made up of all the owners within a unit-titled property. A body corporate is responsible for the management and maintenance (including planned maintenance)…
Auckland’s Real Estate Market: A Look at the Latest Trends
Auckland’s Real Estate Market: A Look at the Latest Trends The latest report from the Real Estate Institute of New Zealand (REINZ) for the month of July 2023 shows that Auckland’s median prices decreased by 8.8% year-on-year, down to $990,0001. However, there are some strong indications that this trend may be changing. Auckland’s Real Estate Market Activity According to most local real estate salespeople, first…
How to Purchase a Home at Auction
How to Purchase a Home at Auction With auctions being a popular process to sell your home, let’s take a look at how to purchase a home at auction in a little more detail so you know what to expect. Most purchases before heading to the auction, begin with a visit to the open home, but if it’s not possible for you to attend the…
Property Market Update For June 2023
Property Market Update For June 2023 The Real Estate Institute of New Zealand (REINZ) has released its June 2023 report, which shows a renewed level of activity in the New Zealand property market. Compared to June 2022, June 2023 has seen a notable increase in sales, with a total of 5,629 properties sold across New Zealand, up 14.6% year-on-year. This increase in sales is particularly…