Talking Real Estate
Banking Criteria and the Credit Crunch
Hi folks,
The first sales figures for 2009 are now available, I don’t think there’s too much to say that people don’t already know. In Upper Hutt there were 34 property sales in January, the lowest sales month since July 1995 and continuing the trend of downward sales. On a slightly happier note the median price increased to $300,000 but that’s due to a higher proportion of 4-5 bed houses selling in the month.
Communication is the Key to a Successful Sale
Hi folks,
Most vendors would choose the agent who they think will get them the highest price for their property. But do they know what qualities and skills are most likely to bring this about, especially in a market where properties for sale outnumber buyers?
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Upper Hutt Sales Trends
Hi folks,
Hopefully this will be my last column specifically regarding 2008 as frankly for those of us in the industry it’s a year we would like to forget. However as I have been keeping you informed about how the market has performed it would be remiss of me not to finish off with the final sales statistics for December.
What Next for the Embattled Property Market?
Hi folks,
Well here we are at beginning of 2009, and after the rampant misery of 2008 I’m sure I’m not alone in hoping this will be a far better year. I actually thought 2008 wasn’t too bad looking back, sure there were challenges but I’m reminded of Chicken Little as I write this, in as much as whenever I opened a newspaper or watched the news I assumed the sky was falling in. Nothing but doom, gloom and misery but ultimately the minutia of life went on, the bills still needed paying, the washing had to be brought in, kids picking up from school etc.
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Understading QV figures
Hi folks,
The regular readers of this column will know that I like to talk about the property market sales statistics. I believe as a property professional that it is vital to know as much as I can about my market, its changes, fluctuations and patterns etc. I mention this because recently I have noticed a disparity between the Real Estate Institute figures and QVs figures regarding average/median selling prices which generally come out at the same time every month. The difference between them last month was fairly significant, the REINZ stats showed a median selling price of $285,000 while QV showed an average property selling at $320,000.
Rental Yields Have Increased
Hi folks,
This week, I would like to discuss rental investments, why? Because as prices have dropped rental yields have increased and at some point in the future property prices will increase as well.
The Real Estate Market's Peaks and Troughs
Hi folks,
I’ve had an interesting week after the Sunday Star Times carried out 2 stories in its business section stating that house prices had dropped 22.6% in Upper Hutt, interesting because a number of people have asked if it’s true, and if so what next?
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A Great Moment For First Time Buyers
Hi folks,
Well the REINZ residential statistics for property sales in Upper Hutt are out and combined with the latest count of properties for sale in the area, it doesn’t look great for those people selling. It does look good for buyers though with a large supply of great homes for sale.
Not Good For Some People, Great For Others
Hi folks,
What great week it’s been sporting wise, the All Blacks took the Tri Nations beating the Aussies in Brisbane, the All Whites having defeated the Solomon Islands are now only 2 games away from sealing a place in the 2010 FIFA W orld Cup, The Warriors beating the Storm and moving into the NRL semis. I’m a roundball boy so good to see The Phoenix earning their first point of the season against The Mariners also England hammered the fancied Croatians in Croatia in another FIFA W orld Cup qualifier and it only gets better for me watching the Mighty Liverpool stick it to Manchester United 2-1.
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Behind the Median Price
Hi folks,
Just thought I would let you know that I’m in a good mood today (Monday), I had a pleasant weekend, caught up with friends, held some open homes, placed a property under offer (hi Sandy and Peter) oh and finally spent some time looking at the recent real estate statistics.