Latest BNZ Confidence Survey
Real Estate Residential
Real estate. Improved stock levels, but unsure on values going forward.
Property Valuation market still tight
Real estate Mount Maunganui, monthly sales down to 30 to 40 sales per month down from 140 average
2005,, falling volume and prices, lots of people geared and values down 30 to 40%, all equity lost.
Real Estate - reasonable / stable outlook, the price rises in Christchurch seem premature.
Real Estate. Market is on fire with a huge number of new listings and plenty of buyers at the moment
Property Investor - more hoops to jump through to obtain finance. In our local PIA we are seeing
experienced investors surviving but many inexperienced people are exiting (and being scared off...banks
are not helping). I can see our major cities having similar issues to Sydney with lack of rental
accommodation in 5 years time, and rents hiking.
Real Estate. Still large overhang of problems in a number of market segments For example Auckland
apartments, a number of developments that were sold by Blue Chip type organisations, no properly
advised purchaser is settling and the apartments can't be re-sold in New Zealand at anything like what is
needed by the Banks to recoup their loans so off-shore sales are the only option. The Banks are avoiding
write offs by not putting the developer into receivership
Real Estate Wellington. Slow Jan, but Feb starting to pick up. New REAA 2008 is impacting with increase
in operational costs, which will need to passed onto agent/consumer. Agents personal costs increasing
with new License fees, may see more drop out this year.
Eastern Beaches Real Estate . Market seems to be running at long term average rates, so relatively solid .
Lower end property sells well and fast for often surprising money, some dearer property languishes. Tax
discussions, increasing joblessness and interest rates keep any potential exuberance under control. I do
not foresee an easy year.
Residential real estate Pakuranga/Howick - slightly below normal levels of activity, have been short of
listings but a few more coming on now, good property well priced is getting action, overpriced or scruffy
does not. Very big sentiment (and rising) against anything plaster.
Dunedin. Residential - very high listings at present but turnover has slowed since Nov 09. Properties
valued $300k or under [rental stock/1st home buyers] ticking over but recent evidence of +$500k homes, if
needing to be sold are being discounted by up to 20%.
Real Estate Johnsonville: Number of listings available have tripled from the low numbers prior to
Christmas. Sales continue at a steady rate with prices about right. Good steady numbers of purchasers in
the market with average numbers at open homes. Should be good sales through to middle of year and
then not sure re interest rates movement.
Property Manager North Shore of Auckland. Student housing strong with small increase in rentals. Open
market rentals no stock and few tenants moving with tenancy renewals. We are achieving 5% rental
growth on new tenancies. I feel this will carry on as more investors exit the market before perceived tax
impacts happen. This will put further pressure on rentals. Steady unit change over in our Body Corporate
units under management, once again mainly investor sales to owner occupied.
Real estate Taupo. Residential sales steady going, apartment and section sales also enjoying somewhat
of a recovery. Overall mood is of improving optimism, but events of last two years tempering any thoughts
of intemperate consumption!
Real Estate Christchurch. Strong buyer numbers and low listings create happy vendors, particularly at
Auction. Multiple offers more prevalent.
Residential Real Estate in Ponsonby has been steady for 12 months and early indications are that it will
continue to remain so for 2010. The main distinguishing features have been that listings have been in short
supply and purchasers are being discerning, rejecting properties with inherent flaws but competing
strongly for desirable properties. The commencement of 2010 indicates a continuation of last years trend.
Real Estate Hamilton: Seems to have taken longer than usual for the market to get underway this year.
There was huge buyer activity at the beginning of January, however people have been slow in bringing
their properties to the market, and are only now starting to do so, with an increase in listings over the past
couple of weeks, however the buyers are now seeming to cool off somewhat.
Real Estate - January was our best month in two years, however this came off a very poor December
Real estate is showing very positive signs from sellers coming to the market and buyers making quick
decisions (unlike 2009).
Rental property rents are remaining on hold. Vacancies are low. I suspect the status quo for another year.
Extremely busy with a shortage of quality stock on the market, many people looking to purchase...not a lot
to sell them! (Real Estate)
Residential Real Estate Wellington Market Fine. Prices firm. Not so good in provinces I believe.
Property, Residential Rentals. Strong pricing, vacancy rate dropping, in some areas very quickly enabling
yields on current values to rise. Looking forward to the tax changes when many will exit the industry
pushing up rents and so yields further.
Real Estate, central auckland - market still strong but some hesitancy with proposed changes to tax laws.
This plus higher interest rates will slow market down.
Real Estate Chch - I'd hate to put the curse on things but the past 10 days or so feels like 2005. Wouldn't
expect this rush to last but who knows. Lots of folk wanting to list, some good buyer action etc.
Residential property and lifestyle properties are selling fairly well in the Waimakariri area as they are in the
cities, but I also deal a bit in the Hurunui district which is still very slow. In most areas we are having
trouble to get enough listings, also buyers are much more aware of values. Hopefully the recent growth in
inquiry and values will remain steady but we definitely need more Vendor realism and confidence at the
moment.
Residential real estate Christchurch ,listings very tight, competition between agents for stock is seeing
some optimistic pricing. All the paperwork and requirements of the new Real Estate Agents Act is making
sure we are careful who we work with .
Real Estate Auckland Eastern Suburbs. Strong settlements and listing activity in December. 2009 year
finished 70% up on 2008 sales, but that was lowest for nearly 20 years. January very busy for both sales
and listings. We are confident that 2010 will see volumes improve further. Prices will firm especially if
demand outstrips supply.
Real Estate: Good buyer inquiry, listing coming in, a bit of fear and confusion with investors about the
government tax plans. Generally optimistic outlook.
Industry- real estate. Things have picked up compared to the all time low of y/e 2009. I think things will
stay as they are at present, dropping a little over the winter, Still not much sign of building recovery,
although there is a very small movement in the sale of sections from practically zero sales of the past 2
years. Our Region Whakatane
Real Estate, Invercargill, increased activity this year, prices stable.
Auckland central real estate sales - more property coming on the market, prices still rising slowly, more
property needed.
Residential Real Estate Gisborne - some positive signs after the year finished better than expected.
Holding good stock, motivated sellers but would prefer to have a few more buyers.
Property market in the Kapiti area is still quite strong, but turnover may be slowing. Fragility in the market
could become apparent once short term interest rates start to rise. Valuation Industry
Real Estate - Central Auckland. Prices firm, multiple offers and homes selling within a couple of weeks of
listing for sale. Many sales of homes for more than was paid for them in 2006, 2007, 2008 and it looks like
the Nov 2007 peak has now been exceeded. Looks like a great summer selling season ahead.
Moving along ok, Have noticed the under 200k market has slowed going into Xmas, expecting it to come
back in the new year. Real Estate Gisborne
Residential Real Estate, Specialising in New Property (House and land packages and land brokerage) We
have been riding a wave of demand for new property especially on Aucklands North Shore and West.
Much of this is due to a lack of good second hand stock and also people liking the idea of new homes built
to the new higher building standards.
Real Estate franchise owner - Northland East coast. Prices are still declining particularly in sections. Best
trading terms for our business in three years - more active buyers in market. High end property moving for
first time in 2years +. Sections becoming a bigger part of our turnover. Total market turnover still a fraction
from its peak.
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