REAL ESTATE
A SOLID START FOR 2016 It’s supply and demand that influences the property market and we are certainly seeing a very strong start in 2016 with good open numbers for properties either for sale or for rent in the central suburbs of Auckland. Most real estate offices are short of quality houses and units and many agents have been selling outside the trendy suburbs like Grey Lynn and Ponsonby because they are simply too expensive for most buyers, especially when a basic do up in the central city on a decent size section in those areas is close now to $2 million. A quality renovated home is over $3 million and more. The outer areas like popular Riverhead, Te Atatu and the Peninsula, Henderson Heights, Sandringham, Three Kings, Onehunga, and Mt Roskill have become really popular as many buyers have been priced out of the trendy suburbs and are keen to get onto the property ladder.
When will all this end? Unfortunately there are no signs on the immediate horizon. The OCR rate is at an all-time low, we are seeing around 70,000 people coming in a year, the banks are awash with money and this is all creating a real shortage of houses for sale and for rent across the popular suburbs. Our little Pavlova paradise has been rated the fifth ‘happiest country’ in the world, no wonder many of those who left for the green pastures across the ditch are now returning home as the Aussie economy is not as buoyant as it once was. Should I buy now or should I wait? If you find a suitable property that suits your family’s needs and it’s within budget, try and secure it as you most probably will never regret it. F PN
Steven Glucina - Franchise Owner Ponsonby and Sandringham offices, L J HOOKER, T: 09 361 7701 M: 021 888 455
560 RICHMOND ROAD - A BRILLIANT OPPORTUNITY This very tidy bay villa has a north facing back yard with its very own private and secluded garden. It is truly a perfect location to run a small business from home and to raise the family at the same time. It offers 4 double bedrooms all with the original high ceilings, 2 bathrooms (including the ensuite), there’s a modern kitchen, with brilliant indoor/outdoor flow to the sun deck PN and fully fenced backyard for entertaining. F L J HOOKER, Steven Glucina, M: 021 888 455, E: sglucina.ponsonby@ljh.co.nz Dee McDade, M 021 448 832, E: dmcdade.ponsonby@ljh.co.nz
VALUE BEYOND AUCKLAND 182 Hooker Road, Tamahere - For Sale $3,900,000 + gst (if any) Thinking of leaving Auckland? Purchasing a home of this calibre at its current market value would not only secure you a unique and admired home, but it would be a shrewd investment for the future. “While there have been sales of investment stock, entry-level lifestyle and middle-market residential homes to Auckland buyers, they are now starting to recognise the huge value that Waikato’s high-end lifestyle properties offer, in comparison to buying in Auckland,” says Angela Finnigan of Bayleys Hamilton. One of the unique factors that the Tamahere area in particular offers buyers is that a lifestyle for those who desire country living, is only 10 minutes from Hamilton CBD. This is of huge benefit to buyers who have business interests in Hamilton and also Auckland. 182 Hooker Road is offered for sale well below its replacement value. A home of this size (790 sq m + 133 sq m of garaging and loft accommodation) would have a significantly higher build cost today (a good quality build today is costing $2500-$3000 sq m). The house alone at say $2750 sq m equals $2,172,500 and therefore offers outstanding value to a potential purchaser. The land area of 15.7ha is a rare find so close to Hamilton. The neighbouring bare land of 4.5ha sold recently for $1850 million. On this basis, the land alone at 182 Hooker Road is easily worth $2.5 million.
104 PONSONBY NEWS+ April 2016
A property of this calibre provides a sound investment now and into the future with its bare land in addition to the house section will offer premium value. F PN Contact: Angela Finnigan, M: 021 623 550 T: 07 834 3821, angela.finnigan@bayleys.co.nz SUCCESS REALTY LIMITED, BAYLEYS, Licensed under the REA Act 2008 PUBLISHED FIRST FRIDAY EACH MONTH (except January)