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Happy New Year from us! We’ve been back for a while now and already 2017 is looking bright and cheery.

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Find out more about these properties on our website mikepero.com Mike Pero Real Estate, Highland Park 505 Pakuranga Road, Auckland 2010 Phone 09 215 2787 Mike Pero Real Estate Ltd Licensed REAA (2008) Statement relating to passing over of information: mikepero.com/receivinginformation

FEBRUARY / MARCH 2017

Property Talk with Mike Pero Highland Park

Happy New Year from us! We’ve been back for a while now and already 2017 is looking bright and cheery. There are enquiries from potential buyers across a wide range of property values – so no matter how little or how much you believe your home is worth we need to hear from you sooner rather than later. The break of 2-4 weeks for some

Mike Pero Real Estate Ltd Licensed REAA (2008)

people has been enough for them to gather their thoughts and set some new year resolutions. We find between now and April are the sunshine days in this industry as many Kiwis are determined to make changes to their lifestyles. A home and a job tend to be at the top of the list. Interest rates have remained relatively stable over the past few months and we can honestly say its not a bad time to be borrowing for a home. Some of those amongst us recall rates of over 20% per

annum, so 4-6% is very good. Grab yourself a cuppa and check out our website at www.mikepero.com – there’s bound to be something there that will whet your appetite. Anyhow, we’re on deck, in the office, and ready to go – if you’re unsure about your property value then call us now for a noobligation market appraisal. We look forward to hearing from you!

hy, t a C , e n n a z u S Megan, Amy

Best wishes,

0800 500 123 www.mikepero.com


Mike Pero Real Estate Ltd Licensed REAA (2008)

What’s Happening in the Market? The trend in the median price continues to improve with the volume trend continuing to fall. The days to sell trend continues to ease. On a seasonally adjusted basis the number of sales in the Auckland region fell 6% compared to December, in line with expectations for this time of year. Sales volume in the Auckland region fell 18% compared to January 2016 with volumes up 3% in Auckland City, but down 14% in Rodney and 16% in Outer Auckland. Compared to January 2016 the median price rose $85,000 (+12%), with prices rising 16% in Manukau, 14% in Outer Auckland and 13% in Rodney. Compared to December the median price fell by $35,000 (-4%), with pricing rising 7% in Rodney, 5% in Outer Auckland and up very slightly in Waitakere City, but falling across the rest of the region. On a seasonally adjusted basis Auckland’s median price rose 2% compared to December. The number of days to sell eased by eight days compared to December, from 33 days in December to 41 days in January. The number of days to sell eased by two days compared to January 2016. Over the past 10 years the average number of days to sell during January for Auckland has been 40 days. There are now 16.6 weeks of inventory in the Auckland region, an increase of 5.5 weeks compared to January 2016. According to REINZ January 2017 statistics, the median sale price in Pakuranga was $1,074,500 with 10 dwellings sold over an average of 35 days. Compared to January 2016, the

median sale price has increased by $344,000 (+47.09%) . REINZ Chief Executive Officer, Bindi Norwell noted that: “The number of properties for sale in Auckland is certainly rising, with more than four months of supply now available and a rise of more than a month of supply over the past year. This lead indicator means greater choice for Auckland home buyers, and prompts us to ask whether the Auckland market is showing some early new signs of activity. Market fundamentals remain the same, with a rising population, housing shortage and historically low, although potentially rising, interest rates. We await the March data with interest, as a clearer picture will emerge of where the market is likely to head through 2017.”

Median Price Breakdown - January 2017 Outer Auckland

Rodney District

Manukau City

Auckland City

Waitakere City

North Shore City

Source: REINZ Source: REINZ

$715,000 $897,500 $815,000 $845,500 $761,500 $965,000

Thinking Aloud with Mike Pero Welcome to the new year! Without doubt 2017 will mean different things to each one of us - some will be looking forward to a new home while others will be saving desperately for their first home. I often get asked what is going to happen with the property market this coming year? I always start by explaining what I do know – firstly I don’t have a crystal ball and I am not an economist. Someone once said the best economists are those that predict the rise and falls of the property market and the dates but never put the two together I agree. If history prevails there will be property rises and falls but who knows how much and when? I certainly don’t. The basic fundamentals remain the same – supply and demand and at the moment there is a shortage of houses and an oversupply of people in New Zealand wanting homes. Migration continues to be positive (very positive) and the economy in general terms is in very good shape. Tourism, one of our main income earners, continues to increase as plane loads of visitors spend their money on our shores. I’m hoping for a good year and I would also like to wish all our customers a very happy new year.

New Year’s Resolutions for Home Sellers dripping tap or small crack in the wall - ensure that they With every New Year comes a raft of noble are not a symptom of a larger problem that will crop up New Year’s resolutions - eat healthier, join in a builders report. Rope in a friend or family member a gym, quit smoking, save money, manage to take a tour through your home. Ask them what imperdebt, and the list goes on. However, if you fections meet the eye and make sure they are brutally are thinking about selling your home in honest. They will pick up on things that potential home 2017, then here are some resolutions that owners will also notice. could help boost your chances of a swift and Always be one step ahead successful sale.

Avoid over-spending on renovations Sometimes people will look to renovate their home prior to selling with the intention of adding extra value. However, it pays to tread carefully, mammoth makeovers are very risky and it is best not to try and anticipate what buyers want in terms of decor and design. Remember that renovations do not necessarily translate to market value. Smaller and more affordable ways to add value to your home could be as simple as replacing door handles or updating kitchen cabinetry. Don’t forget to spruce up existing areas such as decking with a waterblast of concrete, or the re-staining of wood.

Don’t neglect minor repairs It is a wise idea to set aside a few weekends to fix those pesky pieces that need to be repaired. Whether it be that

It is important that you don’t let your future plans get lost in the whirlwind of selling your home. It is best to be prepared for where you will be going once your home has sold - especially if it sells quickly! On the other hand, you also need to prepare yourself with a Plan B if your home doesn’t sell quite as quickly as you anticipated.


Property Talk with Mike Pero, Highland Park - Feb/March 2017