Whether you’ve seen it on the TV news, the print media, or social media, you will now doubt be aware that successive governments have been working since October 2015 to slow down the NZ housing market.
The latest piece of legislation to attempt a market slowdown comes in the form of prohibiting sales to non-resident buyers.
But there are exceptions, such as citizens and residents of Australia and Singapore being able to still buy property in New Zealand. While the current government is trying to ensure their voter base is able to buy into the market, they are also balancing the aspirations of current property owners in maintaining the value of their existing property holdings. Not an easy balancing act.
As with any change, there’s some caution on the part of buyers. The question I keep hearing is, will this turn the market?
In short, the answer is “Not in my view”.
Migrants into New Zealand on a resident visa can purchase property and with net inflow migration still at high levels, there is nothing to suggestion we are close to building sufficient houses to accommodate the current demand. In addition to that, with at least one million NZ passport holders overseas, they can return at any time and buy property – we’ve been watching that process occur for decades.
If I were asked what effect this will have on the market, looking back at the last 21 years in this business, I’d say the answer is “Very little”.
Our new listing at Halifax Street, Nelson is having it’s second of three open homes this Sunday – we look forward to welcoming you there.
Have a good week and do enjoy this lovely Spring weather.
Since you last heard from me we have sold 2/7 Arrow Street, Nelson to the best of several offers. This was a hotly contested home and within a week of our marketing launching we had a sales agreement in place.
Our hot new listing this week is a beautifully located home within a minute or two’s walk from the CBD, but in a nice leafy street in the Wood. 1/63 Halifax Street, Nelson has had an extensive renovation and refurbishment and offers the warm glow of polished floors, modern kitchen and bathrooms, soft new carpet, and a sun-kissed conservatory. We look forward to welcoming you to our first open home this Sunday at 12.30 pm.
This Spring promises to be a busy one for real estate, and so if you are thinking of selling I’d strongly suggest getting in ahead of your competition, who inevitably bring their properties to market around mid-September.
Have a great week
Since we last wrote we’ve sold 90 Princes Drive, Nelson, and Lot 1 at Otium Valley Subdivision in Atawhai, and with the sale of Lot 15 at Otium Valley becoming unconditional, this now only leaves Lot 18 for sale.
As each week passes the subdivision continues to take shape, and with all the building platforms now constructed and infrastructure being installed we are closer to the issue of titles and seeing some amazing new homes being built.
Our new listing this week is either a great, centrally-located first home, or a terrific, easy-care rental investment. It’s 2/7 Arrow Street, Nelson – gorgeous morning sun and nice views out over Washington Valley, and with a rateable value of $275,000 we feel this will be popular.
Our first open home is Sunday week at 12.30 pm
The big news since last week has been the release of Sir Peter Gluckman’s report about Meth testing. Today’s newsletter comments on that matter as it relates to pre-purchase inspection reports.
While we, as professional salespeople, are careful to ensure that purchasers obtain all the independent advice they need to ensure they are buying a sound, watertight and safe property, my inherent Scottish nature has been slightly offended at the industry that has built up around the media-led hysteria of Meth testing.
Gluckman’s report draws a strong distinction between houses that have been used to consume Methamphetamine, and those where it has been manufactured. Here’s a most relevant paragraph from …
This week we have been busy interviewing replacements for our lovely PA Miriam, who is transferring within our company to another position in the building. See our Facebook post here – https://www.facebook.com/nelsonfinehomes/
If, as you read this, you think that an administrative job of 27 1/2 hours a week would work for you, with the potential to increase the hours, then please do get in touch as soon as possible – we would love to talk with you.
With one of our listings under conditional contract this week…
As the colder weather starts to bite (it’s certainly getting a little harder to get out of a nice warm bed these mornings), the houses that are for sale with double glazing and good insulation are showing their true colours.
Our two feature properties have both those things, and as such, it’s easier to spring out of bed on a cold morning when you’re living in a house that’s already cosy and easy to heat.
On the subject of being easy to heat, our listing at Waimea West Road has the added benefit of solar power, keeping the annual power bills remarkably low.
To find out more, send me an email for the full information package, or alternatively, we welcome you along to our open homes this Sunday afternoon.
We sincerely hope that Sunday is freezing cold – you’ll then see how warm and inviting these two homes really are.
Have a great week.