Manager's Comments 20-6-2016

New Plymouth's city median price is up to $406,000 in May. Two months ago in March that figure was $357,050. How does the median price go up 13.7% in 60 days? Well, it doesn’t. We are talking about two groups of houses selling.
In March, of the 88 properties sold 30 were priced between $300,000-$374,000, and 30 between $375,000-$599,000. Small numbers in other price bands either side, which was inconsequential.                         
In May a lot more higher value properties sold. Only 27 in the range of $300,000-$374,000, but 46 in the $37,0005-$599,000 bracket, 40 of those over $400,000, (only 21 in March).
There is always this variation in the type, location and value of houses sold month to month. These variations distort the monthly median prices both up and down month by month. The only true value in these monthly sales figures is identifying trends over time. We may have a trend developing, but maybe not. Another 3-6 months will tell us. What we do know is that many properties are experiencing multiple offers when they are priced and marketed correctly.
If your property is not receiving that sort of attention, we need to discuss a change to these factors and get your property ‘in the zone’ where buyers are active.

John Christiansen

Manager's Comments 09-05-16

I have just been in Northern Queensland for a week. A completely different climate and a completely different real estate market. Lots of property available, but a somewhat depressed economic climate, lots of sellers, few buyers. I remember this happening in New Plymouth, not so long ago really. The market can change quickly. I don't know when that might happen here, but it will in time. The message I got was do what you want to do now, don't wait for that one off buyer, take market value and move ahead with plans while it's all quite easy in comparison to many other places, which normally would not be seen as slow or a bit depressed. Our buyers are offering value. No more, no less. That will change in time. Work in the now and move ahead without regrets.

John Christiansen

Manager's Comments 11-4-16

The lead story in Saturday’s paper quoted “Home ownership still affordable in Taranaki”. That’s true. By comparison with our metropolitan centers, we are affordable. There is however quite stiff competition for buyers in the sub $400,000 bracket where investors compete with first and second homeowners, and where the affordability creates the most buyers. Multi offers are pretty much the norm at these levels. Over $400,000 the game changes as the price increases, buyers become increasingly scarce, and increasingly fussy. Price is no longer the only factor; choices are wider, competition less.
Sellers under $400,000 should seriously consider the advantages of auction and capitalize on the competition in the market. That will drive bidding and ensure you achieve the best cash offer available. Putting the buyers all in the same room will push the price to the best cash offer available in the market. You have the security of a reserve and will not undersell. Talk to our Auctioneer Phil Quinney, along with your agent, and discuss the process. It’s easier than you think.

John Christiansen

Manager's Comments 1-2-16

Well, the first month of 2016 is already gone! Although January can be a mixed bag, the office has been busy. A good number of new listings are coming in (your competition), and some very good sales were made. We hope this is a good indicator of 2016. As more properties come onto the market so the competition increases. Buyers use one gauge when making offers. Comparative value. They know how the market is; they are immersed in it and usually inspect and consider 20-50 houses, more sometimes, before they make a serious bid on what they see as comparable value. Bang for buck. Get yourself in that region with your marketing. Put yourself into this market, don’t just be another advertisement. Very often when properties are competitively priced, the sale price is hydrauliced with the pressure of a multi offer, forcing serious contenders to their limit. That is the best way, other than Auction, to maximize your return. Get into this market and profit by serious and often multiple buyer interest.

John Christiansen

Manager's Comments 18-1-16

Happy New Year. The weather is heating up. How about the real estate market in 2016? Time will tell of course, but it seems to have started well with good inquiry, still it’s far too early to make any judgment. There are some indicators that we will have a very steady market similar to last year. Ups and downs. The dairy prices will begin to bite, as will the recent redundancies across the energy sector. Both these sectors will rebound – but neither looks likely to have a big turn-around in the short term. The heat has come off the Auckland market, but it’s still almost unaffordable for those without some holding in that market already. Donald Trump is giving everyone the jitters. The stock markets are a bit shaky as well. However, we enjoy the cheapest mortgages in recent history, buyers are still about and active. We still enjoy fullish employment in New Plymouth, so easy borrowing is available to most. It will be a bit like our spring weather. Hot and cold, a mixed bag. The only certainty is that, as ever, buyers will demand the best comparative value available.

John Christiansen

Manager's Comments 21-12-15

Season’s greetings to all our vendor clients, buyers, open home visitors and your families. Thank you for your support this year, we hope to help you in the future, again, and again. We strive for ‘clients for life’ at Harcourts. Clients become friends and immediately the real estate transaction becomes a lot lighter and is fun. Two friends seeking a great result together in mutual trust and respect.
We trust you will have a great Taranaki summer. The Te Kupenga International Stone Sculpture Symposium begins New Year ’s Day on the Walkway. WOMAD arrives late March. In between the New Plymouth summer is a great thing to enjoy, lots going on, get your fill. All the very best from your Real Estate professionals at Harcourts.

John Christiansen

Manager's Comments 8-12-15

Well, the scramble is now on. Sell before the close of business Christmas Eve – or wait 2 weeks until the buyers are back, 5th January for the keen ones, mid January for the majority. You have 3 weeks. What are you doing to stand out from the competition? Have you revised price, marketing, exposure over Christmas?
Our last BluePrint of 2015 is published 19 December. It has a shelf life of 3 weeks until the next edition 10 January. Serious sellers need a good prominent ad in that 19 December issue. Talk to your agent now about securing the space, revising the ad and setting yourself up to exposure to buyers, latent buyers and visitors through the holiday period.

John Christiansen