By: Property InDepth - Rene McLean | 2014 June 17
Basking in the midday sun today I couldn’t help wondering how the population in the UK was enjoying their summer today with only marginally higher temperatures, colder water and rain. Perhaps that’s what Brisbanites think of us in the winter but I’ll bet they would be happy to enjoy our more bearable summers. Most New Zealanders live within a 15 minutes of a beach and numerous outdoor activities are close at hand. Yet many claim our property prices are too expensive – but why shouldn’t they be – its a great place to live! Sure our wages aren’t that
By: Property InDepth - Rene McLean | 2014 March 4
The Valuation Industry is in the process of getting a bit of a wake-up call. Property IQ , in conjunction with one or more of the banks, are proposing a ‘clearing house’ type system whereby Valuers instructions are received from the bank via a third party (who allocates the Valuations), rather than the property owner directly instructing the Valuer. This system is more along the lines of how Australia operates. Whether or not the system itself will be successful is yet to be seen so I won’t speculate on that. I will suggest however that it has already created
By: Property InDepth - Rene McLean | 2013 October 19
Property Indepth – Your Local Registered Property Valuers : What is happening in the market and how can we help?
Hope everyone has had a great Waitangi day and is ready for some gruelling 5 day working weeks now that summer has finally arrived!
With Property Indepth now having ten Registered Property Valuers on board in the Auckland region, and that number again over the remainder of the North Island, the company continues to defy the trend in the Valuation industry with steady growth from its inception over 5 years ago. The use of technology and home offices has been an
By: Property InDepth - Rene McLean | 2013 April 16
Act NOW! Auckland Investors & Property Owners – Preserve Assurance Of Subdivision
Apologies to those in other parts of the country but like the Rugby on Saturday Night, Auckland will be dominating this months article on property valuation.
The Auckland Unitary Plan is a hot topic as council is trying to push through a raft of significant changes in a short space of time (before 1 September 2013). I had a brief look at the zoning proposals and planning maps and was surprised than although the council is stating they are wanting to significantly infill Auckland, there are a huge number
By: Property InDepth - Rene McLean | 2012 March 20
Wild Prices On Auctions In Auckland
Auctions seem to be flavor of the month for real estate agents at the moment, and so they should be – there’s some pretty wild prices being paid for property at the moment. I attended one around the corner from me in the weekend – it was a potential 4 unit site with a standard old dated weatherboard home, big dip in the middle and next to non-residential. I expected it to go in the $700,000 to $750,000 range, a small section in the locality would be worth $250,000 to $275,000 and subdivision costs
By: Property InDepth - Rene McLean | 2011 November 18
Have your Council Rating Valuation gone well?
Well accordingly to the news papers 2 weeks ago quoting QV stats, Auckland is surging ahead whilst the rest of the country is stagnant; then a week ago they report, using the real estate stats, that exactly the opposite is happening. A bit like the poll results for Labour although for them it’s a matter of being down, or less down – but never quite achieving the status of the Grand Old Duke of York being neither up nor down. And just as you were beginning to think the papers have nothing but
By: Property InDepth - Rene McLean | 2011 March 10
Usually the 3 main centres survive the downturns well, however clearly the tragic events of Christchurch result in a market in which no one will really know for some time whether prices have increased, decreased or remained static. Would be challenging being a Valuer down there! Comments from property professionals in Wellington indicate that the rental market is nowhere near as buoyant as Auckland with house prices overall being fairly stagnant like Auckland. One would not be expecting many people from Christchurch moving to Wellington which has long been expecting a major earthquake. Let’s just hope and pray our
By: Property InDepth - Rene McLean | 2011 February 10
A promising start for investors
Those who own a house should be thankful after seeing the headlines depicting the shortage of rental properties in Auckland. And those with a few spare houses might well consider themselves very fortunate indeed. Despite the hammering property investors have received from the government, the year ahead looks quite favourable for investors. With the lowest rate of building consents since 1965 (when the population was only 2.6 million), it is hardly surprising we are experiencing a housing shortage. It is estimated we will require at least 20,000 households a year for the next 20 years,
By: Property InDepth - Rene McLean | 2010 December 4
Yields on investment property continue to improve with static prices and increasing rents. In South Auckland it continues to amaze me the levels of rent being achieved for properties which can accommodate extended families. One example is a renovated 3 bedroom home and 3 room sleep-out with bathroom in a very average Mangere location just rented for $680 per week. Whilst the gap in house prices between low and medium cost areas remains large, the difference in rentals is minimal. Yields for single homes in lower cost Auckland areas are similar to the 3 year fixed rate of 7.1%