Quotable value - property prices April 2005
May 10th 2005, 5:27 am
#1
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Quotable value - property prices April 2005
Monday 9th May 2005
Residential Property Values Grow 12.5%
<<Sorry, article deleted due to possible copyright issues - Sue>>
https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
Residential Property Values Grow 12.5%
<<Sorry, article deleted due to possible copyright issues - Sue>>
https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
May 10th 2005, 5:31 am
#2
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Joined: Mar 2005
Posts: 167
Re: Quotable value - property prices April 2005
Originally Posted by Don
Monday 9th May 2005
Residential Property Values Grow 12.5%
https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
Residential Property Values Grow 12.5%
https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
Thanks for that Don. We are putting our house on the market in little over two weeks. Franticly getting everything done at the moment. We have spent a fortune on it and about 500 man hours so fingers crossed we do well. We are doing an auction.
May 10th 2005, 6:37 am
#3
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Joined: Jan 2003
Location: Hawkes Bay
Posts: 359
Re: Quotable value - property prices April 2005
There you are, Don can be a helpful chap when he keeps away from the Lounge.
Glad to say that Hawkes Bay is still on the up. Howwever our house is on for $650K (bought for $480K in Oct 2003), have had 50 folk through in a month and no offers yet. Off to the UK for a few weeks so something may happen in the meantime. The Missus says no viewings whilst we're in the UK (as we have dogsitters) so hopefully that will not effect the sale.
Cassa. I don't know about Christchurch but is an auction the way to go. No properties ever sell at auction in Havelock North. Been to a few and always disappointed. Seem to be the thing to do when the market is madly rising, and expensive.
Roger
Glad to say that Hawkes Bay is still on the up. Howwever our house is on for $650K (bought for $480K in Oct 2003), have had 50 folk through in a month and no offers yet. Off to the UK for a few weeks so something may happen in the meantime. The Missus says no viewings whilst we're in the UK (as we have dogsitters) so hopefully that will not effect the sale.
Cassa. I don't know about Christchurch but is an auction the way to go. No properties ever sell at auction in Havelock North. Been to a few and always disappointed. Seem to be the thing to do when the market is madly rising, and expensive.
Roger
May 10th 2005, 7:21 am
#4
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Joined: Mar 2005
Posts: 167
Re: Quotable value - property prices April 2005
Originally Posted by Roger
There you are, Don can be a helpful chap when he keeps away from the Lounge.
Glad to say that Hawkes Bay is still on the up. Howwever our house is on for $650K (bought for $480K in Oct 2003), have had 50 folk through in a month and no offers yet. Off to the UK for a few weeks so something may happen in the meantime. The Missus says no viewings whilst we're in the UK (as we have dogsitters) so hopefully that will not effect the sale.
Cassa. I don't know about Christchurch but is an auction the way to go. No properties ever sell at auction in Havelock North. Been to a few and always disappointed. Seem to be the thing to do when the market is madly rising, and expensive.
Roger
Glad to say that Hawkes Bay is still on the up. Howwever our house is on for $650K (bought for $480K in Oct 2003), have had 50 folk through in a month and no offers yet. Off to the UK for a few weeks so something may happen in the meantime. The Missus says no viewings whilst we're in the UK (as we have dogsitters) so hopefully that will not effect the sale.
Cassa. I don't know about Christchurch but is an auction the way to go. No properties ever sell at auction in Havelock North. Been to a few and always disappointed. Seem to be the thing to do when the market is madly rising, and expensive.
Roger
May 10th 2005, 7:32 am
#5
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Re: Quotable value - property prices April 2005
Originally Posted by Roger
Cassa. I don't know about Christchurch but is an auction the way to go. No properties ever sell at auction in Havelock North. Been to a few and always disappointed. Seem to be the thing to do when the market is madly rising, and expensive.
Roger
Roger
Just checked on our house in Dunedin (ie houses for sale in the same price range & zone) http://www.realenz.co.nz/misc/menumapOK.cfm?district=18 and sure enough quite a guideline prices are starting to appear and phrases like 'BY NEGOTIATION OVER $285,000'.
A year ago there were virtually no guideline prices at all.
I thought things were going a bit dead...
May 11th 2005, 4:01 am
#6
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Re: Quotable value - property prices April 2005
Public split on whether it is a good time to buy
<<Deleted due to possible copyright infringement - Sue>>
http://www.nzherald.co.nz/index.cfm?...ectID=10124520
A chill wind threatening to blow through the NZ housing mkt?
<<Deleted due to possible copyright infringement - Sue>>
http://www.nzherald.co.nz/index.cfm?...ectID=10124520
A chill wind threatening to blow through the NZ housing mkt?
May 11th 2005, 6:26 am
#7
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Joined: Mar 2005
Posts: 2
Re: Quotable value - property prices April 2005
Hi Don,
I have lurked for some time and enjoyed your often very helpful and informative replys.
The house price 'bubble' is international but most dramatic in Ireland, UK, NZ, OZ and parts of USA.
The relationship between average wages and average house prices is totally out of kilter.
History seems to suggest that there will be a massive correction soon ie a big drop in prices.
Speculation about this has created many heavily trafficed and active sites in the UK such as www.housepricecrash.co.uk
The bulls think prices will steady or fall slightly. The bears predict anything up to 50% price falls. The UK market peaked last Summer and prices have fallen slowly but steadily since then. No one appears to expects a Japanese style correction of 80% drop over 14 years.
Who knows which side will turn out to be right.?
My own observation of the market here is that many special factors have contributed such as immigration and purchases with foreign earned cash. New arrivals often think housing is cheap here whereas in reality it is expensive compared to earnings. They then pay far more than a local would for a given house.This is all helped by self-employed, commission-only agents who constantly talk the market up.
In Hawkes Bay where Roger is selling his house; many higher priced houses have been on sale for many months. The fast movers are the mid price units which are stll relatively affordable on local wages. One beautiful brand new house on Napier Hill has been unsold throughout its build and twelve months of serious marketing since it was completed. It was $700k but who knows what it will actually go for.
You only need one purchaser Roger, and that offer may be on the way right now but I have to agree with Don, this could be a very good time to sell.
Good luck
I have lurked for some time and enjoyed your often very helpful and informative replys.
The house price 'bubble' is international but most dramatic in Ireland, UK, NZ, OZ and parts of USA.
The relationship between average wages and average house prices is totally out of kilter.
History seems to suggest that there will be a massive correction soon ie a big drop in prices.
Speculation about this has created many heavily trafficed and active sites in the UK such as www.housepricecrash.co.uk
The bulls think prices will steady or fall slightly. The bears predict anything up to 50% price falls. The UK market peaked last Summer and prices have fallen slowly but steadily since then. No one appears to expects a Japanese style correction of 80% drop over 14 years.
Who knows which side will turn out to be right.?
My own observation of the market here is that many special factors have contributed such as immigration and purchases with foreign earned cash. New arrivals often think housing is cheap here whereas in reality it is expensive compared to earnings. They then pay far more than a local would for a given house.This is all helped by self-employed, commission-only agents who constantly talk the market up.
In Hawkes Bay where Roger is selling his house; many higher priced houses have been on sale for many months. The fast movers are the mid price units which are stll relatively affordable on local wages. One beautiful brand new house on Napier Hill has been unsold throughout its build and twelve months of serious marketing since it was completed. It was $700k but who knows what it will actually go for.
You only need one purchaser Roger, and that offer may be on the way right now but I have to agree with Don, this could be a very good time to sell.
Good luck
May 11th 2005, 8:28 am
#8
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Joined: Jan 2003
Location: Hawkes Bay
Posts: 359
Re: Quotable value - property prices April 2005
Hope it is. Good post Mr NICE GUY.
We plan to rent in Whangarei when we sell after doing the South Island Tour that we shgould have done after migrating here.
Roger
We plan to rent in Whangarei when we sell after doing the South Island Tour that we shgould have done after migrating here.
Roger
May 11th 2005, 9:50 am
#9
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Location: Eastbourne, Wellington!
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Re: Quotable value - property prices April 2005
Originally Posted by Don
Monday 9th May 2005
Residential Property Values Grow 12.5%
https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
Residential Property Values Grow 12.5%
https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
Thanks for such a helpful post...very useful for those of us still near the beginning of the process!!!
Dave
May 14th 2005, 5:48 am
#10
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Re: Quotable value - property prices April 2005
<<Removed due to copyright infringement, as per The New Zealand Herald, "Unauthorised use of the Content on this site is strictly prohibited"
Go to the URL given by Don to read the original article - Sue>>
http://www.nzherald.co.nz/index.cfm?...ectID=10125098
Go to the URL given by Don to read the original article - Sue>>
http://www.nzherald.co.nz/index.cfm?...ectID=10125098
