Locations Realty is a member of NZ Realtors Network Ltd, the largest collective of leading, independent real estate agencies operating throughout New Zealand.
August 2011 sales of residential property reveal that the NZ Realtors Group collectively sold 1314 residential properties nationwide for a combined value of $569,298,038. These figures represent a small increase of 33 sales over July 2011, and a healthy 23.7% increase in sales over August 2010. As a percentage of national sales, the NZ Realtors group transacted 25% of New Zealand’s 5192 residential sales in August. The group also reported strong demand for farm and lifestyle sales, with 60 sales transacted throughout New Zealand.
Traditionally August is the quietest month of the year for the industry; however given these sales volumes it is reasonable to expect sales in the months leading into Christmas to remain buoyant. This sentiment tends to be supported by Tony Alexander’s recent comment below.
Real estate market getting stronger - Wednesday September 7th 2011
“All of the main eight measures we use to gauge the current strength of the residential real estate market around New Zealand have strengthened over the past month indicating that slowly but surely on average things are shifting to a seller’s market. More and more first home buyers are appearing, prices are perceived to be edging upward, and auction clearance rates are considered to be improving. However there has been a sizeable lift in potential vendors seeking appraisals of their properties, and in the opinion of agents the market balance is only marginally in favour of sellers. Regional variations remain strong. (Tony Alexander is BNZ Chief Economist).”
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100 POUND INVESTMENT CASHES IN OVER $1 MILLION.
OVER thirty people gathered on a sunny section at the edge of Lake Hayes to see this 45 year old investment auctioned, by Locations Realty Ltd, for over $1 million today, 22 July 2011.
The pure waterfront section, at 89 Lake Hayes Arrowtown Road, attracted 58 bids and finally sold under the hammer for $1,205,000.
Locations’ Senior Auctioneer, Alan Sutton said: “The sale price, while exceeding the current rateable value of $1,025,000 was in line with pre-auction expectations. This illustrates clearly the on-going value of a prime location. The undeveloped site further demonstrated the interest in key positions for quality homes to meet top end market demands in the area.”
For more information please contact:
Greg Ross, Managing Director, Locations Realty 027 432 0261 or
Alan Sutton, Senior Auctioneer, Locations Realty: 027 434 6018.
Click here to view the sales brochure for the property
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Millbrook Resort posts near record property sales
Creating a varied menu of property buying options at Queenstown’s five-star Millbrook Resort has paid off with a near record sales month for June 2011.
Millbrook’s new McEntyre’s Tarn show home – a single-level cottage-style home harking back to the simple stone crofts of early Central Otago settlers -- opened over Easter and has been the catalyst for three contracts on homes in this attractive neighbourhood.
With the show home already sold off the plans, just one home remains in the five-home hamlet.
Other confirmed sales for the month include two sections and an existing home, adding up to a total of just under $10m. Year-to-date sales at Millbrook, nine months into its financial year, now stand at $10.062m in re-sales and $11.210 in new sales, a total of $21.272m.
Click here to read the full release.
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The Latest New Zealand Property Report for June 2011.
The June 2011 NZ Property Report published by Realestate.co.nz provides an insight into the state of the New Zealand property market as measured by the supply side of the property market over the month of May. The key measures of the market analysed in the report are the number of new listings, the asking price expectation for those new listings and the level of inventory of unsold houses on the market at this time. The report is compiled from data captured by the website and represents close to 95% of all property movements in the NZ market as managed by licensed real estate agents.
What began last month as an early trend towards a sellers’ market has taken on a faster pace through June. Nationally whilst the inventory levels hover just above the long-term average of 41 weeks, key regions of the country are now firmly set in a sellers’ market. This situation has the potential to be exacerbated by the traditional reluctance of property owners to list their homes through the winter period. During the winter, sales per month tend to drop by around 5% as against a normal month, however new listings tend to fall more significantly by up to 15% as compared to a normal month.
Heading into the winter period with a growing number of regions seeing inventory levels below long term average could well result in elevated buyer demand with a potential to see property price appreciation. Those regions are Auckland, Queenstown, Bay of Plenty, Waikato and Otago.
Click here to read the 8–page report
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New Zealand Realtors Group register increased residential Sales.
Locations Realty are members of the NZ Realtors Group of leading, independent real estate agencies operating throughout New Zealand.
May 2011 sales of residential property reveal that the group collectively sold 1382 residential properties nationwide for a combined value of $618,235,402. These figures represent an increase of 219 sales over April 2011, and a 4.5% increase in sales on May 2010. While we acknowledge the residential property market has its challenges, these sales are the second highest figures recorded for the group in the last 12 months in both dollar value and number of individual sales.
Numerically, these figures represent around a quarter of the total residential sales recorded by real estate agents nationwide, and an even higher percentage based on dollar value, indicating the group’s strength in the middle- and upper-price bracket of house sales. The group also reported strong farm sales, with 59 individual sales for a total value of $94,830,896.
Disclaimer: The New Zealand Realtors group does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information published herein. The Information contained herein has been supplied by individual members from the New Zealand Realtors group without verification by any independent party. The views and opinions of authors expressed herein do not necessarily state or reflect those of The New Zealand Realtors group or any other parties.
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Waterfront Land first purchased for £100 at Lake Hayes now for sale.
Chocolate box views of quintessential Lake Hayes are assured from this absolute water front landholding of 809sqm.
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Govt makes it a lot easier for the rich to get NZ passports
By Lincoln Tan – NZ Herald 07/05/2011
Changes to the Government's business migration scheme will make it easier for rich foreign investors to qualify as investor migrants.
These include a reduction in the number of days a $10 million investor has to spend in the country from 73 to 44 days, and recognising investments in bank bonds and equity, Immigration Minister Jonathan Coleman announced yesterday at a breakfast meeting in Auckland.
Business migrants will also need to only meet one of the two requirements of either having managed a business with five full-time employees or a business with at least a $1 million annual turnover, instead of both.
But what immigration advisers say will attract investor migrants, especially those from China and the rest of Asia, are that funds can now be transferred through foreign exchange companies and not just banks, and the recognition of residential property, other than their own home, as an "acceptable investment".
The focus would be for these investors to build new subdivisions, houses and apartment blocks to increase the total housing stock available to New Zealanders, Dr Coleman said.
"The marketing of our business migration package will target key OECD markets including the United Kingdom and the United States. We're also looking at the major developing markets in India and Southeast Asia," he said.
Annually, new migrants add $1.9 billion, tourists $9 billion and international students more than $2 billion in foreign exchange.
"Given these compelling figures, my number one priority has been to ensure immigration is contributing to the Government's economic growth agenda," Dr Coleman said.
Immigration was working closely with New Zealand Trade and Enterprise to link high-worth migrants with New Zealand businesses, the minister added.
Stakeholders in the immigration industry have welcomed changes with some saying it could attract hundreds of new investor migrants here.
The scheme, set up a year and a half ago to promote greater investment, has attracted $562 million.
"Asian investors, especially the Chinese, are happy and comfortable to be investing in residential properties," said Ming Tiang, a licensed immigration adviser from Chiwi Immigration Services.
Migrants are often blamed for pushing up house prices, but Mr Tiang believed that a significant increase in new housing stock could bring sale prices and rents down to a more affordable level.
Business migration scheme
* Investors with $10m need to spend only 44 days instead of 73 days during the three-year investment period.
* Residential property, bank bonds and equities now acceptable investments.
* Transfer of funds can be made through foreign exchange companies, and not just restricted to banks.
* Rules around level of business experience relaxed.
