Superb October Edition

b.

Market commentary.

Rental Market Update.

The average days on market is sitting at approximately three weeks for Auckland, Waitakere and Manukau Cities, according to latest Trade Me Supply and Demand Reports.

The number of Trade Me searches Auckland wide is up 6% at over 17 million visits to the site.

Looking at our own portfolio, we decreased our number of listings online by approximately 70% from February 2022.

Our letting team have also reported an increase in attendance at viewings.

Whilst the market is heading in a positive direction, it is still a competitive market and it is imperative to ensure that your property is looking its best both in the online marketing and at the viewings.

We recommend investing in professional photography and staging for furnished properties and have found investing in virtual staging to be beneficial if your property is unfurnished.

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The rental market continues its correction as we head into Spring.

For more information about the rental market and how to get your property looking Superior to the competition, get in touch with one of our Supercity Superstars!

Rental Market Comparisons.

Do you want to know the going

put together a comprehensive list of rental market

find the area you are interested in

the

more market

Central Auckland & City Fringe

Auckland Central, Parnell, Grafton, Newton, Ponsonby, St Marys Bay, Herne Bay, Grey Lynn, Westmere, Mt Albert, Pt Chev, Sandringham, Three Kings, Hillsbourough, Mt Roskill, Owairaka, Lynfield, Mt Eden, Kingsland, Balmoral, Epsom, Newmarket, Royal Oak, One Tree Hill, Ellerslie

Eastern Suburbs

Mission Bay, Kohimarama, St Heliers, Meadowbank, Remuera, Glendowie, Glen Innes, Panmure, Mt Wellington

West Auckland Suburbs

Glendene, Glen Eden, Massey, Te Atatu, Westgate, West Harbour, Waterview, Avondale, Titirangi

South Auckland Suburbs

Mangere, Otahuhu, Otara, Papatoetoe, Manukau, Manurewa, Papakura, Pukekohe

North Shore & North Auckland

Takapuna, Milford, Devonport, Birkenhead, Northcote, Glenfield, Sunnynook, Birkdale, East Coast Bays, Browns Bay, Torbay, Albany, Orewa, Silverdale, Wellsford

Spring checklist..

Winter is finally behind us and glorious

Spring has arrived!

Now is the perfect time to get ahead of the game with home maintenance in preparation for Summer. Whether it is a house, townhouse or apartment, there are a few boxes almost every owner should tick:

01.

Get the filters changed throughout the house. This includes heat pumps, bathroom fans, and especially range hoods from the increased amount of home cooking through the winter period.

02.

Repair any necessary window latches/hinges as well as making sure window seals are all intact.

Over the Winter period, there may have been some noticeable drafts. Now is the time to get them all fixed up. This goes for door seals also.

03.

Gutters can get blocked over the winter period with leaves and debris so gutter cleaning and exterior house washing is a great idea during Spring

more tips, please

informative Landlord Guide. [Click Here]

04.

Clear away dead plants from your garden.

New growth will flourish and it’s an opportunity to refresh and replant for a new look.

05.

Is the deck looking worse for wear after the winter period?

A DIY deck staining kit is a great way to refresh the deck in preparation for all the Spring and Summer BBQ’s coming up. There may also be some built up moss on your balcony from all the rain. Grab that moss treatment from your local hardware store and get spraying!

06.

Decide what to keep and what to throw out.

Remember you can always donate any unwanted goods(that are in good condition) to op shops and also friends and family so that you don’t add to landfills.

Sales commentary.

Some real estate agents are reporting early signs of a spring lift in activity after a relatively slow August month, according to the Real Estate Institute of New Zealand (REINZ).

There are early indications of increasing traffic through open homes as spring unfolds and vendors become more accustomed to balancing price expectations with the reality of the market.

August is typically a quieter month in real estate and the number of residential property sales nationally decreased annually by 18.3%, from 5,983 in August 2021 to 4,891 in August 2022. However, monthon-month, there was an increase of 1.9%.

In Auckland, sales decreased 38.9% annually from 2,418 to 1,477 but month-on-month, sales were up 0.5%.

Across New Zealand, median prices for residential property decreased 5.9% annually, from $850,000 in August 2021 to $800,000 in August 2022. Month-on-month, this represents a 1.2% decrease from $810,000 in July. The median price in Auckland was down 8.3% compared to August last year, down from $1,200,000 to $1,100,000. However, month-on-month the median price in Auckland was Up 0.9% from $1,090,000 to $1,100,000.

Median prices have eased since the peak in November 2021, in parallel with higher mortgage rates and concerns about inflation. Many vendors have become increasingly realistic with their asking prices, conscious of meeting the market.

Nationally, month-on-month the median number of days to sell a property nationally increased by two days. This median was 49 days in August, up 18 days compared to August 2021.

Early signs of a spring lift after a slow August.

Daniel Horrobin Director

In the Auckland market, the median days to sell in August was 48 – up 16 days compared to August 2021. Month-on-month the days to sell have increased by three days. Meanwhile inventory levels continue to creep up.

Auctions continue to attract serious buyers, with those who can only buy conditionally now often being successful in the days post-auction. Ray White City Realty Group has seen a strong auction clearance rate of 64.82% YTD from January to August 2022.

This shows that auctions continue to drive stronger results with lower days on market as compared to other methods of sale.

The relaxing of the Credit Contracts and Consumer Finance Act (CCCFA) and the opportunity to negotiate are attracting savvy first home buyers. Now is a great time for home owners to consider upsizing or downsizing as sellers adjust their expectations to meet the market.

As warming weather heralds an anticipated spring lift we recommend enlisting a trusted real estate professional to effectively market your property. This will ensure it stands out and attracts buyer interest, factors vital to achieving a successful outcome.

For advice on property related matters, please contact one of our team of professionals at Ray White Parnell who are operating at the coal face and understand the market sentiment.

Ray White Auckland Central, Eden Terrace & Wynyard Quarter Ray White Sandringham, Ray White Parnell

Auction chat.

Cameron Brain Auction Manager

As we hit the Spring market we are seeing an increase in buyer activity with more buyer engagement at our Auctions.

The City Realty Group (CRG) continues to buck the trend with a clearance rate of 64.82% year to date after 398 Auctions.

Our Auckland Central Office, which focuses on Apartments through Auckland Central & the City Fringe suburbs continues to see investors bidding strongly in their Auction rooms focusing on properties in the under $500,000 category and has resulted in the strongest Auction Clearance Rates amongst the group at 75.57%.

These results continue at our Wynyard Quarter office which has seen good buyer demand for Leasehold Apartments with multiple bidders on the last two leasehold apartments being Auctioned during August.

On the Residential front, our Ray White Sandringham Office has a great pipeline of Auction through September and October with owners eager to take advantage of the Spring Market and current market conditions with some of the Auction properties seeing inspection numbers back to 30 groups over a weekend.

Auction Manager

If you want to know more about our Auctions please feel free to contact me anytime.

Exceptional Mt Eden Living.

One &

Bedroom Apartments

These homes will be zoned for Auckland Boys Grammar School and situated just a 15-minute walk away.

Enfield will also be in proximity to the soon-tobe-completed City Rail Link, which gets you into the CBD in less than 10 minutes. Walking distance from Mt Eden Village and local amenities.

Show home is located on-site and is available for viewing.

Do you want a warmer, drier home and save money on energy bills?

ANZ’s Good Energy Home Loan

welcome initiatives from the banks remove some of the financial barriers that get in the way of doing our bit for the environment. Futureproofing your home with more energy-efficient options

deliver cost savings on heating

Even better, you and your loved ones get to enjoy a warmer,

power

Westpac’s Warm Up Loan

Westpac has expanded its interest-free Warm Up Loan. Customers can now borrow up to $40,000 to make their homes warmer, drier, more sustainable and energy efficient. And now, you can also use the money for electric vehicle chargers and solar batteries.

Westpac says it has already loaned more than $30 million through the Warm Up initiative. And it plans to increase lending for energy efficiency home improvements to $100 million.

It’s hoped the initiative will lead to more sustainable solutions that deliver benefits to the environment. Plus, the improvements often mean reduced household energy costs, helping to ease the current cost of living pressures.

Interested to know more?

Please get in touch with our team at LoanMarket.

crafts and holiday fun!

through some fun activities to do with friends and family!

Holiday Activity Kit.

Team values.

The value and costs of a Property Manager

Comprehensive initial inspections backed with photographic evidence

Access to the best systems for application vetting / credit checking / reference checking

Educated advice for tenants creating better quality outcomes

Contact with an emergency number, no matter what time of day/ night it may be

Ongoing education of legislation updates and requirements

Tenancy

Minimised vacancy periods through fast online tenant viewing and booking systems

testing procedures, information and best practice

to the best tenancy law advice and support

individual

SuperValue.

Professional property marketing and advertising across our six CRG Group platforms:

Ray White SuperCity

Property Management

Ray White Auckland Central

Ray White Parnell

Ray White Sandringham

Ray White Eden Terrace

Ray White Wynyard Quarter

Delivering your property to more customers to create interest and demand.

Honest and transparent advice.

Increased annual returns.

Minimised vacancy periods.

Valuable skills surrounding tenant selection and vetting processes.

Detailed Covid-19 resources and support tools.

Legislative peace of mind.

Daily rent payment receipting and strict arrears management.

Plus more...

SuperFees.

Ray White SuperCity Property Management is superfocused on the performance and protection of people’s personal assets.

We offer competitive management fees in two tier structures to suit your requirements:

Management Fee:

Silver - 8% or Gold - 12% all inclusive Plus

Listing/Advertising

Inspections

Healthy Homes

Professional Photographs

Methamphetamine Testing

Smoke Alarm Service

So whether you’re buying your first investment property or your thirty-first, we have the experience to ensure properties are managed to save money, time and heartache.

Contact our Business Development specialists for more information.

Our Superstar.

Meet Lisa, our Cantonese, Mandarin and English speaking property manager.

Customer service focussed and always with a smile she rocks as our Superstar of the month.

How long have you been in Property Management for?

2 years. Prior to property management in New Zealand, I worked for Harcourts in Hong Kong for 10 years.

Why did you decide to get into Property Management?

I have always had a love for property. As I worked in the real estate industry in Hong Kong for over 10 years, I wanted to stay in the property field in NZ.

What do you love about your job?

I love the fact that no two days are the same. The fact that I get to communicate and assist many different people on a daily basis really excites me.

What do you like to do in your spare time?

I love travelling and spending time with friends and family.

What is your favourite colour? Pink

What is your favourite TV show?

I prefer movies to TV shows. Anything action packed!

What is your favourite food?

I love Japanese food. Steak is also a go-to.

Tell us something we don’t know about you.

I used to be a part time model.

Our SuperGroup.

We’re super focused on maintaining properties AND relationships.

One party needs a return on investment and the other needs a great home to return to each day.

Ray White SuperCity Property Management understands every aspect of property management and we’re always looking for the right balance of what’s best for owners AND tenants so everyone wins.

We’re the superglue in the relationship.

Gina Colcord Head of Property Management

Daniel Horrobin Director of City Realty Group

Anne Misa Accounts Administrator

Anja Cheesman Letting Agent

Delanie Horrobin New Business Manager/ Property Manager

Silvia Hu 胡天欣 Business Development Manager/Property Manager

Chirag Mistry Property Manager

Lisa Hui 许丽沙 Property Manager