REAL ESTATE UPDATE: KAREN SPIRES Auckland has retained its podium finish among the world’s top cities when it comes to quality of living. For the eighth consecutive year, Auckland has been ranked third by Mercer’s Quality of Living Survey, which assesses the living standards for expatriates across 231 cities worldwide. The cities are ranked according to a number of different criteria including housing, economic environment, natural environment, public services and transport, schools and education, recreation, and sociocultural environment. Auckland shares its ranking with Munich in Germany and Vancouver in Canada. Austria’s capital city Vienna tops the list for the 10th year running, closely followed by Switzerland’s Zurich. The next highest-ranked New Zealand city is Wellington, which placed 15th. Australia’s top ranking city was Sydney, which achieved 11th place, followed closely by Melbourne in 17th place. Mercer chief executive Martin Lewington said the top contributing factors in Auckland’s high ranking were quality housing, a highly stable political and social environment and strong medical and health services. However, he noted Auckland’s ongoing issues with traffic congestion was an area which would need improvement. “While our high ranking is certainly something to be proud of, Auckland’s traffic congestion and a nationwide low score on the availability of international flights and international schools are holding us back from rising even further,” he said. This year, the survey included a separate ranking for cities based on personal safety, which took into account a city’s internal stability, crime levels, law enforcement, limitations on personal freedom, relationships with other countries, and freedom of the press. Both Auckland and Wellington were ranked in ninth place, with Luxembourg named as the safest city in the world. When it comes to purchasing a property in Auckland, location and school zones continue to be the most important factors for home buyers. Purchasing a
property in Auckland has become more affordable over the past 12 months as average prices in many of the regions have flattened out. We have seen a resurgence of first-time buyers in the market, bolstered by the continued low-interest rates, lower asking prices and employer confidence. The average sales price for Auckland decreased by 2.7% in March, and is now sitting at $856,000, according to the latest statistics from the Real Estate Institute of New Zealand. For Auckland City, the average sales price fell 3.2% between February and March, and is now sitting at $981,000. REINZ chief executive Bindi Norwell suggested that prices in the Auckland market had found a new normal for the time being as average values had hovered around the $850,000 mark for nearly three years now. While the volume of sales increased between February and March, the number of sales was significantly down compared with the same time last year. Much of this has been attributed to the uncertainty surrounding legislative changes, notably the proposal to introduce a capital gains tax, and also difficulty securing finance. The number of properties sold in Auckland fell by 18.2% in March compared with the same time last year. This drop was even more pronounced in Auckland City, where sales fell by 27.5%. Ms Norwell said vendors had been focusing on realistic pricing, and that more houses were being advertised with an asking price than had been for a long time. Towards the end of the month there was more consistency in the market with buyers showing genuine interest and vendors who were PN more inclined to meet the market, she said. (KAREN SPIRES) F
Karen Spires AREINZ, M 027 273 8220, E karen.spires@bayleys.co.nz, www.karenspires.bayleys.co.nz
@ OREXART
Richard McWhannell 'Truth or Consequences’ 11 - 31 May, opening Saturday 11 May 11am - 3pm. In 2018, Richard McWhannell made a trip to New Mexico and visited a town called Truth or Consequences. It was a catalyst for this body of work. Truth or Consequences, it’s a name that conjures images of the old west - of Kit Carson and Wyatt Earp, of Geronimo, of fearsome Apache, Comanche and Arapaho, of cougars, rattle snakes and coyotes. In truth, it’s a town named after a 1950s radio game show. Truth, consequences, strange goings on. Trees bending over, cows lying down. Like a Gothic perspective on Arcadia. Pastoralism with a sidecar of unease. Richard McWhannell was born in Akaroa, New Zealand in 1952, graduated from Ilam, University of Canterbury in 1972 and has been a practising and exhibiting painter for the past three decades. He is represented in public collections in New Zealand including Auckland Art Gallery Toi a Tamaki, Christchurch Art Gallery Te Puna Waiwhetu and, in 2016, he was the subject of a major retrospective of his work at Pah Homestead, Auckland. F PN OREXART, 15 Putiki Street, T: 09 378 0588, www.orexart.co.nz
116 PONSONBY NEWS+ May 2019
A Picture for Oum Kalthoum
Sunday School Picnic at Sandy Bay
RICHARD McWHANNELL
Truth or Consequences
11-31 May, Opening Sat 11 May 11am-3pm 1/15 putiki street, arch hill, auckland open tues-sat, 09 3780588
PUBLISHED FIRST FRIDAY EACH MONTH (except January)