Asking prices for Auckland houses hit a record high in February, rising by 2% to reach $817,000 on TradeMe’s property pricing index. That is a huge jump from February 2015, when the average asking price was $710,250 – meaning sellers want 15% more than they did this time last year. This takes asking prices in … Continue reading Asking prices – Auckland hits a new high
Since a surprise rezoning announcement in December, the Unitary Plan has been under fire from a vocal group of Auckland residents concentrated in the eastern bays. A seven-hour meeting (described as “the worst Auckland Council meeting of all time”) resulted in a back-down from the Council. What does this mean for you? This controversy may … Continue reading Unitary Plan opportunities may extend
The surprisingly hot housing regions in the REINZ’s February data were Hawke’s Bay, Wellington and Nelson/Marlborough. The Wellington market has been flat or only slightly improving for the past eight years, so significant boosts in sales and prices are a welcome change of pace for the capital. With new motorways improving access to Wellington and … Continue reading New hot housing regions: Hawke’s Bay, Wellington and Nelson
The latest OCR cut means banks are more competitive than ever, so now’s your chance to negotiate hard for a good deal. Your current lender won’t tell you about break fees unless you ask, but it’s definitely worth it if you’re one of the many people stuck on rates around the 6% mark. We’ve been … Continue reading Surprise OCR cut means lots of break fees
There’s been a bit of debate recently about whether ‘P’ testing between tenancies may be needed in order to meet the requirements of the Residential Tenancies Act. Remember, as a landlord it is your responsibility to provide a clean property, free from ‘P’ contamination. ‘P’ is a methamphetamine and is also known as speed, pure, burn, … Continue reading Compulsory ‘P’ testing between tenancies?
For most Kiwis, finding a property is a fun, sometimes frustrating activity that happens rarely in their lives. Even the busiest investors don’t buy more than a few properties in a year when you average out their portfolios. But I’m one of a handful of New Zealanders who finds properties for a living. That … Continue reading How to find the perfect investment property