C21 Market Pulse | May 2019 | New Zealand

M A Y

M A R K E T

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P U L S E

C21

PUBLISHER Century 21 New Zealand Ltd

CONTRIBUTORS Ryan Mitchell Bindi Norwell Jamie Ensor Kathryn Madden

EDITORIAL ENQUIRIES Century 21 New Zealand +64 9414 6041

ADVERTISING ENQUIRIES Century 21 New Zealand +64 9414 6041

WELCOME TO THE

MAY 2019 ISSUE OF

C21 MARKET PULSE

DISCLAIMER We have in preparing this information used our best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective buyers and sellers should make their own enquiries to verify the information contained herein. All information contained in the CENTURY 21 New Zealand Ltd website is provided as a convenience to clients. All links to property prices displayed on the website are current at the time of issue, but may change at any time and are subject to availability.

For more information on our Privacy Policy please refer to: www.century21.com.au/privacy

C O N T E N T S M A Y

C21 NEW ZEALAND NEWS

02-03

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DREAM HOME WISHLIST

Auckland franchise owner buys stake in C21

How to create your dream home wishlist.

New Zealand.

Home Beautiful Magazine Editor, Kathryn Madden

06-07

Century 21 New Zealand National Manager,

AUCTION STRAGEY

Ryan Mitchell

PURCHASING WITH BITCOIN

04

Three tips for purchasing at auction.

Auckland home could be first in New Zealand purchased with bitcoin.

Newshub, Jamie Ensor

LATEST PROPERTY STATISTICS

05

Will the OCR impact Auckland’s median price ‘Groundhog Day’?

REINZ CEO, Bindi Norwell

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C21 NEW ZEAL AND NEWS

AUCKLAND FRANCHISE OWNER BUYS STAKE IN C21 NEW ZEALAND

B Y R YA N M I T C H E L L ,

N AT I O N A L M A N AG E R , C E N T U R Y 2 1 N E W Z E A L A N D

After seven years in Australian ownership, Derryn Mayne, has bought a 25% stake of Century 21 New Zealand from Charles Tarbey, owner of Century 21 Australasia.

The company’s international

business media. What’s more,

rebranding has been well-received

the feedback she’s had from our

here with our offices and staff now

franchise owners, salespeople, and

all carrying the new-look; I was

staff has blown her away.

delighted to be appointed National Manager eight months ago; and enquires about Century 21 franchise opportunities are increasing.

Charles Tarbey couldn’t be happier with Derryn’s decision to take a

Responding to a flood of positive social media comments, Derryn posted a massive thank you to everyone.

“I’m so excited about the opportunities that lay ahead and

In addition to now being co-

stake in the company on this side of

owner and director of Century 21

the Tasman.

New Zealand, Derryn will retain

“I’m delighted that a significant

within the Century 21 NZ network.

piece of Century 21 New Zealand

I love the brand and the people

ownership is falling back into

in it so I can’t wait to help grow

Kiwi hands. This was always my

the C21 family,” she said after the

intention and I believe Trans-

announcement.

ownership of her own Century 21 office. She established the Manurewa-based franchise 11 years ago during the Global Financial Crisis and has since won numerous real estate awards including the prestigious ‘Hall of Fame’ in 2017.

look forward to building on the success stories that are already

Tasman co-ownership is the best model for Century 21 to reach its full potential in New Zealand. It will

Over the years the new co-owner has led the charge in promoting South Auckland’s real estate

Derryn has been one of Century

now enjoy greater local input and

21’s and South Auckland’s most

can maximise the talents of Derryn

energetic and successful realtors.

Mayne to the full,” he said at the

Her acquisition in April and her

time of the announcement.

firm plans to grow the company’s

Last month news of Derryn’s

and assessor of new real estate

acquisition was well received

entrants completing their National

by New Zealand’s property and

Certificate in Real Estate.

market share, follow other key developments for Century 21 New Zealand.

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market to the likes of first-home buyers and property investors.

She remains involved at Unitec Institute of Technology as a tutor

“I started my business in 2008

“As well as bringing in new people,

Zealand including significant new

which was a really difficult time in

every successful company needs a

franchisees in the coming months.

real estate but through a lot of hard

strong internal growth strategy and

work we broke into the local market

that’s what I intend to develop and

to be in a strong position to succeed

lead over the coming months.

when better times followed. I’m now looking forward to offering my experiences and knowledge as both a salesperson and franchisee to others in the Century 21 family and those who join us,” she said.

driving the new Century 21 brand up and down the country.

What’s more, given the current

I’m looking forward to working

real estate market, there are many

closely with Derryn. Both of us are

across the industry who now need

absolutely focused on delivering

to up their work rate and hone their

growth.

Century 21’s franchise owners and

buyers are receiving exceptional

offices throughout the country

service.

in New Zealand. Key to delivering growth, Ms Mayne will focus on recruitment, staff training, building successful teams, succession planning, and overall business development.

sorry readers, that includes me still

response times for our franchisees

fronting this column every month!

and salespeople and offering strong support and quality advice. to deliver even better back-office support and systems, and we’re closer to any industry and policy told media.

and salespeople to explore their options.

I’m chuffed that Century 21 New Zealand will also have more autonomy over its marketing strategy and spend. Since the international rebrand was launched,

“Given the market has slowed,

New Zealand has directed more

particularly in Auckland, many

resources towards digital marketing

in the industry are now at a

and this is set to continue.

crossroads. Many have already worked for the bigger players and so it’s decision-making time to try something different, which is great for us,” said Derryn.

Derryn Mayne says retaining majority Australian ownership for the time-being gives the New Zealand business greater strength to grow and expand. The global

She believes key to Century 21

recognition of Century 21 being a

achieving more immediate growth

strong selling point for the team,

is developing its own salespeople

and again, the untapped locations

and supporting its current locations

nationwide are also seen as a key

to grow a stronger market presence.

advantage to the brand’s future

Growth will also be about attracting

success going forward.

and encouraging high-performing salespeople to see the huge potential in Century 21 franchise ownership, as she did.

Keep warm this winter.

Headquarters is now well placed

changes here in New Zealand,” she

owners from competitor companies

be the day-to-day spokesperson for

“I’m committed to delivering quick

to set up Century 21 franchises in we’ll continue meeting franchise

As National Manager, I’ll continue to Century 21 in New Zealand. And so

“There are so many opportunities different parts of the country, and

will only help us to keep positively

and professional salespeople.

skills to ensure both vendors and

having more decision-making based

having a New Zealand co-owner

“I’m interested in totally focused

Derryn believes, like me, that

will benefit from the company now

Ultimately, I strongly believe that

Reinforcing the company’s positive trajectory, there is set to be further announcements by Century 21 New

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Pictured: New C21 NZ Co-owner, Derryn Mayne.

PURCHASING WITH BITCOIN

AUCKLAND HOME COULD BE FIRST IN NZ PURCHASED WITH BITCOIN

BY JAMIE ENSOR W W W. N E W S H U B . C O. N Z

Bitcoin has recently surged back into the public spotlight and one Century 21 agent is taking advantage of this renewed hype by offering buyers the chance to secure a home with the cryptocurrency or a NZD split.

A north Auckland home could become the first in New Zealand to be sold with Bitcoin in what is being billed as the “future of real estate”.

The 16-year-old, architecturally designed family home in Unsworth Heights is currently on sale, with the vendors accepting $1,225,000 - or the equivalent in Bitcoin.

Due to the volatility of the

investors who’ve had Bitcoin in their

cryptocurrency, the final Bitcoin

digital wallet for some time. “They

amount would be calculated at the

could do well, but so could people

time the property sells.

who may have got into Bitcoin last

While it’s understood vendors in

year, when it was worth much less.”

New Zealand have before offered

Being a global currency, accepting

to accept Bitcoin, no deals are

Bitcoin would appeal to offshore

believed to have been completed

investors not excluded by the

using the cryptocurrency.

foreign buyer ban, says Collett.

The Century 21 real estate agent

The vendors are open to accepting

acting on behalf of the vendors,

a full Bitcoin payment or a 50-

Liam Collett, said this could be an

50 mix between Bitcoin and New

opportunity for a buyer to convert

Zealand dollars.

their Bitcoin into a hard asset and show the utility of the currency in New

10 Springwater Vale, Unsworth Heights is

Zealand.

“The vendors are keen to promote the property to early Bitcoin investors who’ve had Bitcoin in their digital wallets for sometime.”

PROPERTY DETAILS: located in a fantastic part of New Zealand

“The vendors see a great opportunity in marketing

approximately 20mins from the Cities Waterfront in Down Town Auckland, New Zealand’s largest city. For more information, contact Liam Collett on 021 939 160 or liam.collett@century21.co.nz.

their beloved property for Bitcoin,” he said.

“The vendors are

keen to promote the property to early Bitcoin

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Article Link: https://www.newshub.co.nz/home/ money/2019/05/auckland-homecould-be-first-in-new-zealandpurchased-with-bitcoin.html

L AT E ST P R O P E R T Y STAT I ST I C S

WILL THE OCR IMPACT AUCKLAND’S MEDIAN PRICE ‘GROUNDHOG DAY’?

BY BINDI NORWELL, REINZ CEO

Median house prices across New Zealand increased by 6.4% in April to a record equal $585,000, up from $550,000 in April 2018. Median price increases for New Zealand excluding Auckland were even stronger, increasing by 7.6% to a record $495,000 up from $460,000 in April last year, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.

Median house prices in Auckland

Bindi Norwell, Chief Executive at

“Despite the growth in many of the

remained exactly the same as April

REINZ says: “Prices across New

regions, Auckland seems to be in a

2018 at $850,000.

Zealand have continued to rise with

‘Groundhog Day’ situation with the

13 out of 16 regions experiencing

median price for the region being

annual price increases. Record

around the $850,000 mark for

median prices were recorded in

three years. It will be interesting to

Southland, Manawatu/Wanganui

see if last week’s OCR cut as well

and Northland. Additionally, we’ve

as certainty on CGT will impact

seen some strong areas of growth

the market in the coming months,”

outside of those records including

continues Norwell.

There were three regions that achieved record median prices in April and one region had an equal record: •

Southland: +22.4% to $300,000 (up from $245,000 at the same time last year)

•

increase year-on-year.

+18.0% to $360,000 (up from

“Surprisingly, Nelson and Otago

-11.5% from the same time last year

both saw falls in the annual

to 5,800 (down from 6,555) the

median price down 0.9% and 0.4%

lowest sales volumes for the month

last year) Northland: +12.7% to $507,000 (up from $450,000 at the same time last year) •

The number of residential

Manawatu/Wanganui: $305,000 at the same time

•

the West Coast with a 16.3%

Waikato: +9.3% to a record equal $550,000 (up from $503,000 at the same time last year).

properties sold in April fell by

respectively. Given the strength of these markets over the last few months, these were relatively small declines in the bigger scheme of things, perhaps suggesting that these are just the early signs of the usual winter slow down,” continues Norwell.

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of April in 5 years. For New Zealand excluding Auckland, the number of properties sold fell by -9.5% when compared to the same time last year (from 4,634 to 4,192).

DREAM HOME WISHLIST

How to create your dream home wishlist

BY K AT H R Y N M A D D E N ,

EDITOR, HOME BEAUTIFUL MAGAZINE

It’s happened to the best of us: you turn up to a house inspection on the hunt for a modern twobedder with parking, but find yourself so enamoured by the home’s soaring period ceilings that all your preconsidered requirements fly out the pretty sash windows.

Consider it the number one tool on your house hunt. Compiling a prioritised wishlist will help separate your needs from your wants, and

GET VISUAL

GO BACK TO BASICS

We’re not suggesting that

Now it’s time to reel it in. What

manifestation is the answer to

are the absolutely essential

all your property aspirations, but

requirements for your home and

visualisation is a savvy starting

lifestyle? Important considerations

point. Envision your perfect home

are the minimum number of

in all its glory – the size, the style,

bedrooms, minimum number of

the suburb… Keep it semi-realistic

bathrooms and minimum size. Other

(shelve your Tuscan villa pipedreams

must-haves might include a garden

for now), but still think freely. This

or deck, off-street parking or an

will help tap into your desires and

internal laundry. Location may be

get you thinking about how you want

paramount – perhaps you want to

to live. Sure, ocean views may fall

be within walking distance of your

outside your budget, but perhaps

children’s school – or maybe you

you’d settle instead for easy access

have your heart set on a certain

to a beach or bay. Scrawl down all

cluster of suburbs. Also consider

your ideas to refer back to later.

liveability: is renovating an option, or are you keen to find a home and

keep you on track in the search for

move straight in? List these non-

your dream home.

negotiables on a sheet of paper.

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ADD THE NICE-TO-HAVES Below your must-haves, start noting down the features you deem appealing, but not essential.

A walk-in wardrobe? You wouldn’t turn it down, but it’s not make or break. It might be the same for a pool. Interior features could also fall into this category – think hardwood flooring and stone countertops, as well as central air conditioning or a fireplace. Check in with your abovementioned visualisation notes as you go, picking out the elements that are enticing, but also attainable.

CONSULT THE EXPERTS Finally, round out your list with some expert intel. The agents at real estate Century 21 will share some “value” items to consider tacking onto your list. As the name suggests, these are features that will add value to your property over time. Think a great bathroom, dual-pane windows, or close proximity to top schools.

While these items shouldn’t take over your wants and wishes, they’re nevertheless worth keeping in mind as you navigate the inspection circuit (now armed with a handy priority list, so you never swerve off course again!)

ABOUT THE CONTRIBUTOR Home Beautiful is chock-a-block with makeover ideas for indoors, outdoors, renovating, decorating plus food and entertaining, it’s a must-have mag and every home decorator’s best friend.

Article Link: https://www.homebeautiful.com.au/financetips-for-homebuyers-and-property-owners

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A UC T I O N ST R AT E G Y

THREE TIPS FOR PURCHASING AT AUCTION Auctions can be intimidating, especially if you’re a first home buyer or have never attempted to purchase at auction previously.

But it can be a fun experience and has the potential to result in a great purchase.

1.

FA M I L I A R I S E YO U R S E L F WITH THE PROCESS If you have time, attend auctions of similar properties to what you are looking for and in the same suburb. Listen and watch the process and become familiar with how it works. This will allow you to form a better understanding of the local market and to get comfortable with the auction process.

Here are three tips for buying a home at auction:

2.

SET A BUDGET It is easy to get caught up in the pace of an auction and the desire to win. Overcome this temptation by setting a budget before you start. Know your upper limit and be strict with yourself on stopping at that limit. However, also consider having a small contingency set aside in case the difference between winning your dream home and not getting it is a matter of $1000 – $2000. Over the lifetime of your loan and property ownership, a small amount of extra money may be worth spending if you truly feel the property is worth purchasing.

3.

BE INFORMED

Ensure you have done your due diligence on the property itself. Make sure you have a building and pest inspection in hand and all your finances prepared. If possible, have your solicitor to look over the contracts in place prior to auction. Make sure that you know what conditions are in place, as most auctions require a deposit to be paid on the day.

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DON’T SETTLE FOR AVERAGE 70% of homesellers settle for the first real estate agent they meet. Don’t settle, speak to a Century 21 agent today.

C21.co.nz Source: NAR Profile of Home Buyers and Sellers, 2017