This week The Economist released their annual assessment of housing markets around the world which concluded that “…home prices are overvalued by about 25% or more in Australia, Belgium, Canada, France, New Zealand, Britain, the Netherlands, Spain and Sweden…” You can read the full article here: http://www.economist.com/node/21540231 and then it’s worth referencing Tony Alexander’s weekly email [...]
I’ve just changed The Property Market’s commission structure. Up until last week we charged clients 1% up to the CV of their property and 5% on the remainder above it plus GST but we now charge a more simple and straightforward fee of 2% of the sale price plus GST. The concept behind the old [...]
Being a Brit by birth, the word townhouse conjures up gentrified and noble connotations. Townhouses were originally the city residences of members of the aristocracy and more often than not, they were terraced dwellings – squeezed together side-by-side in much the same way as the homes of far less wealthy city residents – but they [...]
A look at the unsettled Ponsonby stats for October so far reveals just 13 sales – 4 by auction and 7 by negotiation. The bulk of sales was for 3 and 4 bedroom properties on a freehold title and only one apartment sold in the month. The lowest sale price was $250,000 for a leasehold [...]
We recently did some analysis on the effectiveness of auctions in the current market in the past 3 months. In Grey Lynn, Herne Bay and St Marys Bay, properties on average achieved a higher sale price above their CV when sold by negotiation than those sold by auction. Westmere was still the stand-out winner for [...]
The October sale data is starting to filter through and so far it shows 23 sales in the month (5 apartments, one home and income and 17 properties on fee simple titles) which is up around 9% on October last year. The bulk of these properties were sold by negotiation and the lowest sale price was [...]
The Reserve Bank has announced – as anticipated – that it will keep the Official Cash Rate at 2.5%. The OCR has been kept at this low rate since the start of the year but Alan Bollard this morning warned that the conditions for our major trading partners had weakened significantly and that if the recent developments [...]
As featured in The Denizen on Wednesday 17 August, Antonia Baker delves into the colourful past of an iconic Freemans Bay property.