property update august 2013

2
WELLINGTON REGIONAL COMPARISON SALES MEDIAN DAYS TO SELL MEDIAN SALE PRICE AREA JULY 12 JUNE 13 JULY 12 JUNE 13 JULY 12 JUNE 13 $000s $000s Wairarapa 64 47 84 58 $230 $250 Wellington Central 46 37 48 70 $418 $493 Wellington West 25 33 59 26 $507 $545 Wellington East 36 43 27 30 $551 $535 Wellington South 33 37 28 26 $500 $515 Wellington North 63 69 28 24 $455 $485 Pukerua Bay/Tawa 72 74 44 39 $373 $355 Lower Hutt 127 112 41 34 $330 $382 Upper Hutt 63 55 54 36 $330 $343 Otaki/Paekakariki 84 83 44 72 $324 $310 Levin 27 25 61 82 $225 $200 Comparative sales figures compiled from the Real Estate Institute of NZ statistics Bill to clarify unit titles passes second reading Housing Minister Dr Nick Smith last month welcomed the second reading of a bill to clarify and simplify some parts of the law around bodies corporate and unit owners. “The Unit Titles Amendment Bill makes a number of amendments to the Act that will benefit prospective buyers, unit owners and bodies corporate. It affects about 100,000 people today but the growth of apartment living is likely to cover half a million people within 50 years,” Dr Smith says. “This bill will reduce costs for prospective buyers needing to access body corporate documents as part of the sale and purchase process. It will enable buyers to select only those documents they require rather than receiving a stack of standardised documents that just adds cost. “The bill also includes a fast and effective way to recover unpaid levies for body corporates. These issues will now be able to be dealt with by the Tenancy Tribunal.” The bill was previously part of the Statutes Amendment Bill but was separated out as a stand-alone bill on the recommendation of the Government Administration Committee. http://beehive.govt.nz/release/ Improving overall trend for region The median price for the local region increased by $10,000 (+2.6%) in June compared to the previous month, with Western and Northern Wellington having the largest increases. Compared to June 2012 the region’s median price increased by $5,625 (+1.4%) with the largest increases in Hutt Valley and Northern Wellington . Compared to June 2012 sales volumes fell by 2.0% with sales falling noticeably in Central Wellington, and to a lesser extent in Southern and Western areas. Compared to May sales volumes fell by almost one quarter with falls right across the region. The number of days to sell remained steady at 37 days compared to May. Compared to June 2012, the number of days to sell improved by six days; over the past 10 years the median number of days to sell in June has averaged 39 days across the region. The trend in the median price is continuing to improve, with both the sales volume and days to sell trend moving sideways. The overall trend for the Wellington region continues to improve. www.reinz.co.nz/ © Homenet Enterprises Ph: (04) 234 8006, E-mail: [email protected] AUGUST 2013 Leaders Real Estate Group represented by: Leaders Real Estate (1987) Ltd, Northside Realty Ltd, Villa Real Estate Ltd. Licensed under the Real Estate Agents Act 2008 Disclaimer: All the information published in Property Update is true and accurate to the best of the publisher’s knowledge. No liability is assumed by RE/MAX Leaders, nor the publisher, for any losses suffered by any person or organisation relying directly or indirectly on this newsletter. Using Kiwisaver to buy a home Win Dinner for 2 at Logan Brown Restaurant Cnr Cuba and Vivian Streets Tel: 801 5114 To go into the draw fill in your name address and telephone number and mail your Newsletter by the end of the month to: “RE/MAX Leaders Logan Brown contest” PO Box 24262 Manners Street Wellington 6142 To email your entry: Email [email protected] and include the following details: Subject: Logan Brown contest Email: Your name, address, and contact phone number and the name of the agent who sent you the newsletter. Courtesy of Logan Brown Restaurant you are offered the opportunity to win dinner for two to the value of $250.00 Newsletter sent to me by of RE/MAX Leaders Name Address Telephone Email Last month’s winner was: L & C Humphreys of Belmont Lower Hutt Kiwisaver has now helped thousands of New Zealanders buy their first home. Provided you have been in the scheme for at least 3 years and the home is for own occupation you should qualify. Land purchased to build your home on also meets the criteria. You can withdraw personal and employer contributions plus any investment returns but you cannot withdraw the government contributions. Ask your Kiwisaver provider for a first home withdrawal balance to see what you can access. You cannot use the Kiwisaver funds to pay the initial deposit which is due when you confirm a contract to buy the house as the money is not paid out until the settlement date (the day you have to pay for the property). Consequently, you may need other funds to make up your total deposit or a temporary loan from your bank. First Home Buyers Deposit Subsidy This is a house warming present from the government if you meet certain criteria; $1,000 for each year you have been a member of Kiwisaver up to a maximum of $5,000. Each region has a purchase price cap which is currently $400,000 for the Wellington city suburbs and $300,000 for the greater Wellington area. In addition, you must have household income under $100,000 for up to 2 borrowers and under $140,000 for more than 2 borrowers. The Government is making some noises about changing this cap level. Not only first home buyers qualify You may still qualify even If you have already owned a home provided that you have: Not made a first home withdrawal from Kiwisaver or received the deposit subsidy. Your household income is under $100,000 for up to 2 borrowers and under $140,000 for more than 2 borrowers. You have realisable assets less than 20% of the purchase price cap in the area you are buying. Assets include most things except your primary mode of transport. Housing NZ process and approve these applications. Other schemes can qualify If you are part of a superannuation fund other than Kiwisaver, you should check with your scheme provider to see if your scheme is a complying scheme and whether you have access to your funds for a first home purchase. Source: www.homeloanshop.co.nz Andrea Skews M: 0220 SELL IT (735548) P: 04 4 SELL IT (735548) E: [email protected] M: 0220 SELL IT (735548) P: 04 4 SELL IT (735548) E: [email protected]

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Page 1: Property Update August 2013

wellington regional CoMPariSon

SaleS Median dayS to Sell Median Sale pricearea JUly 12 JUne 13 JUly 12 JUne 13 JUly 12 JUne 13 $000s $000sWairarapa 64 47 84 58 $230 $250 Wellington Central 46 37 48 70 $418 $493 Wellington West 25 33 59 26 $507 $545 Wellington East 36 43 27 30 $551 $535 Wellington South 33 37 28 26 $500 $515 Wellington North 63 69 28 24 $455 $485 Pukerua Bay/Tawa 72 74 44 39 $373 $355 Lower Hutt 127 112 41 34 $330 $382 Upper Hutt 63 55 54 36 $330 $343 Otaki/Paekakariki 84 83 44 72 $324 $310 Levin 27 25 61 82 $225 $200

Comparative sales figures compiled from the Real Estate Institute of NZ statistics

Bill to clarify unit titles passes second reading

Housing Minister Dr Nick Smith last month welcomed the second reading of a bill to clarify and simplify some parts of the law around bodies corporate and unit owners.

“The Unit Titles Amendment Bill makes a number of amendments to the Act that will benefit prospective buyers, unit owners and bodies corporate. It affects about 100,000 people today but the growth of apartment living is likely to cover half a million people within 50 years,” Dr Smith says.

“This bill will reduce costs for prospective buyers needing to access body corporate documents as part of the sale and purchase process. It will enable buyers to select only those documents they require rather than receiving a stack of standardised documents that just adds cost.

“The bill also includes a fast and effective way to recover unpaid levies for body corporates. These issues will now be able to be dealt with by the Tenancy Tribunal.”

The bill was previously part of the Statutes Amendment Bill but was separated out as a stand-alone bill on the recommendation of the Government Administration Committee. http://beehive.govt.nz/release/

Improving overall trend for region The median price for the local region increased by $10,000 (+2.6%) in June

compared to the previous month, with Western and Northern Wellington having the largest increases. Compared to June 2012 the region’s median price increased by $5,625 (+1.4%) with the largest increases in Hutt Valley and Northern Wellington . Compared to June 2012 sales volumes fell by 2.0% with sales falling noticeably in Central Wellington, and to a lesser extent in Southern and Western areas. Compared to May sales volumes fell by almost one quarter with falls right across the region. The number of days to sell remained steady at 37 days compared to May. Compared to June 2012, the number of days to sell improved by six days; over the past 10 years the median number of days to sell in June has averaged 39 days across the region. The trend in the median price is continuing to improve, with both the sales volume and days to sell trend moving sideways. The overall trend for the Wellington region continues to improve. www.reinz.co.nz/

Leaders Real Estate 1987 Limited MREINZpropertyUPDATE

© Homenet Enterprises Ph: (04) 234 8006, E-mail: [email protected]

AUGUST 2013

Leaders Real Estate Group represented by: Leaders Real Estate (1987) Ltd, Northside Realty Ltd, Villa Real Estate Ltd. Licensed under the Real Estate Agents Act 2008

Disclaimer: All the information published in Property Update is true and accurate to the best of the publisher’s knowledge. No liability is assumed by RE/MAX Leaders, nor the publisher, for any losses suffered by any person or organisation relying directly or indirectly on this newsletter.

Leaders Real Estate 1987 Limited MREINZ

Using Kiwisaver to buy a home

Win Dinner for 2 at Logan Brown Restaurant

Cnr Cuba and Vivian Streets Tel: 801 5114

To go into the draw fill in your name address and telephone number and mail your Newsletter by the end of the month to: “RE/MAX Leaders Logan Brown contest” PO Box 24262 Manners Street Wellington 6142

To email your entry: Email [email protected] and include the following details:Subject: Logan Brown contestEmail: Your name, address, and contact phone number and the name of the agent who sent you the newsletter.

Courtesy of Logan Brown Restaurant you are offered the opportunity to win dinner for two to the value of $250.00

Newsletter sent to me by of RE/MAX Leaders

Name

Address

Telephone Email

Last month’s winner was: L & C Humphreys of Belmont Lower Hutt

Kiwisaver has now helped thousands of New Zealanders buy their first home. Provided you have been in the scheme for at least 3 years and the home is for own occupation you should qualify. Land purchased to build your home on also meets the criteria. You can withdraw personal and employer contributions plus any investment returns but you cannot withdraw the government contributions. Ask your Kiwisaver provider for a first home withdrawal balance to see what you can access. You cannot use the Kiwisaver funds to pay the initial deposit which is due when you confirm a contract to buy the house as the money is not paid out until the settlement date (the day you have to pay for the property). Consequently, you may need other funds to make up your total deposit or a temporary loan from your bank.

First Home Buyers Deposit SubsidyThis is a house warming present from the government if you meet certain criteria;

$1,000 for each year you have been a member of Kiwisaver up to a maximum of $5,000. Each region has a purchase price cap which is currently $400,000 for the Wellington city suburbs and $300,000 for the greater Wellington area. In addition, you must have household income under $100,000 for up to 2 borrowers and under $140,000 for more than 2 borrowers. The Government is making some noises about changing this cap level.

Not only first home buyers qualifyYou may still qualify even If you have already owned a home provided that you have:

Not made a first home withdrawal from Kiwisaver or received the deposit •subsidy.Your household income is under $100,000 for up to 2 borrowers and under •$140,000 for more than 2 borrowers.You have realisable assets less than 20% of the purchase price cap in the area you •are buying. Assets include most things except your primary mode of transport.Housing NZ process and approve these applications.•

Other schemes can qualifyIf you are part of a superannuation fund other than Kiwisaver, you should check with

your scheme provider to see if your scheme is a complying scheme and whether you have access to your funds for a first home purchase.

Source: www.homeloanshop.co.nz

Andrea Skews

M: 0220 SELL IT (735548) P: 04 4 SELL IT (735548) E: [email protected]

M: 0220 SELL IT (735548) P: 04 4 SELL IT (735548) E: [email protected]

Page 2: Property Update August 2013

Chris Ritchie Barrister & Solicitor

In legal matters your choice of lawyer matters

Sovereign House, Level 8, 22-28 Willeston Street, Wellington Phone 04 472 9711. Fax 04 472 9223.

[email protected] www.chrisritchielaw.co.nz

Personal and professional legal service at competitive rates. Meet me at the office or if it’s more convenient

I can come to you.

Holloway Rd Aro Valley 4 $401,250 $375,000 Kanpur Rd Broadmeadows 3 $375,000 $385,000 Mitchell St Brooklyn 3 $904,000 $890,000 Reuben Ave Brooklyn 2 $460,000 $435,000 Mitchell St Brooklyn 3 $417,500 $445,000 Chisbury Lane Churton Park 4 $475,000 $500,000 Mauldeth Tce Churton Park 6 $900,000 $860,000 Edington Gr Churton Park 5 $957,000 $900,000 Waverton Tce Churton Park 4 $535,000 $500,000 Amesbury Dr Churton Park 5 $673,500 $645,000 Anaheim Pl Churton Park 3 $383,000 $370,000 Handly Gr Churton Park 6 $1,352,000 $1,250,000 Halswater Dr Churton Park 3 $395,000 $380,000 Middleton Rd Churton Park 2 $308,889 $300,000 Silverstream Rd Crofton Downs 4 $538,000 $465,000 Silverstream Rd Crofton Downs 4 $405,100 $355,000 Chartwell Dr Crofton Downs 2 $291,000 $275,000 Winston St Crofton Downs 3 $475,000 $470,000 Colonial Gr Greenacres 4 $480,000 $510,000 Evans Bay Pde Hataitai 3 $510,000 $490,000 Rakau Rd Hataitai 5 $600,000 $560,000 Rakau Rd Hataitai 5 $695,000 $600,000 Waipapa Rd Hataitai 2 $286,000 $280,000 William St Hataitai 2 $300,000 $275,000 Zetland St Highbury 4 $972,000 $920,000 Medway St Island Bay 3 $515,000 $530,000 Derwent St Island Bay 3 $731,000 $740,000 Severn St Island Bay 3 $535,000 $510,000 Liddel Gr Island Bay 2 $240,000 $280,000 Danube St Island Bay 2 $579,000 $630,000 Ribble St Island Bay 4 $512,000 $455,000 Severn St Island Bay 3 $560,000 $455,000 Freeling St Island Bay 3 $487,500 $450,000 Severn St South Island Bay 6 $756,000 $800,000 Volga St Island Bay 4 $710,000 $660,000 The Parade Island Bay 4 $740,500 $740,000 The Parade Island Bay 3 $550,000 $610,000 Eden St Island Bay 3 $411,000 $44,000 Old Coach Rd Johnsonville 2 $325,000 $275,000 Cortina Ave Johnsonville 4 $485,000 $485,000 Glenamoy Cres Johnsonville 3 $431,000 $400,000 Broderick Rd Johnsonville 3 $372,100 $360,000 Saville Row Johnsonville 4 $391,000 $370,000 Woodland Rd Johnsonville 3 $567,000 $440,000 Burgess Rd Johnsonville 2 $406,200 $360,000 Cameron St Kaiwharawhara 3 $495,000 $475,000 Onehunga Rd Karaka Bay 5 $915,000 $840,000 Tai Paku Paku Rd Karaka Bay 3 $740,000 $700,000 Nakora Rd Karaka Bay 3 $635,500 $740,000 Nevay Rd Karaka Bay 4 $960,000 $920,000 Karaka Bay Rd Karaka Bay 3 $650,000 $800,000 Allington Rd Karori 3 $452,000 $430,000 Hathaway Ave Karori 3 $500,500 $420,000 Karori Rd Karori 3 $520,000 $485,000 Thurleigh Gr Karori 7 $415,000 $580,000 Versailles St Karori 4 $550,000 $580,000 Collier Ave Karori 4 $545,000 $460,000 Paparata St Karori 4 $812,000 $700,000 Parklands Dr Karori 5 $590,000 $545,000 Donald St Karori 4 $478,000 $475,000 Raumati Tce Khandallah 4 $880,000 $750,000 Calcutta St Khandallah 4 $742,000 $780,000 Jubilee Rd Khandallah 3 $710,000 $560,000 Calcutta St Khandallah 4 $515,000 $550,000 Homebush Rd Khandallah 5 $665,000 $780,000 Burma Rd Khandallah 3 $620,000 $600,000 Delhi Cres Khandallah 4 $580,000 $621,000 Imperial Tce Kilbirnie 5 $800,000 $760,000 Vallance St Kilbirnie 3 $440,500 $410,000 Crawford Rd Kilbirnie 5 $965,000 $910,000 Crawford Rd Kilbirnie 3 $717,000 $600,000 Kemp St Kilbirnie 2 $375,000 $395,000 Te Whiti St Kilbirnie 2 $450,000 $440,000 Farnham St Kingston 2 $416,500 $420,000 The Ridgeway Kingston 5 $510,000 $410,000 Breton Gr Kingston 0 $497,000 $520,000 Virginia Gr Kowhai Park 4 $731,000 $690,000 Virginia Gr Kowhai Park 4 $575,000 $560,000 Tiketike Way Kowhai Park 3 $515,000 $490,000 Mitchell St Kowhai Park 3 $481,000 $420,000 Coates St Linden 3 $275,000 $260,000 Queens Dr Lyall Bay 2 $370,000 $350,000 Queens Dr Lyall Bay 1 $275,000 $270,000

Maupuia Rd Maupuia 2 $420,000 $425,000 Kaikoura St Maupuia 2 $415,000 $410,000 Antico St Melrose 3 $802,500 $560,000 Houston Gr Miramar 4 $745,000 $630,000 Aparima Ave Miramar 2 $370,000 $350,000 Totara Rd Miramar 3 $535,000 $540,000 Broadway Miramar 2 $435,000 $420,000 Torridon Rd Miramar 3 $535,000 $500,000 Strathavon Rd Miramar 3 $620,000 $455,000 Elizabeth St Mt Victoria 2 $685,000 $730,000 Brougham St Mt Victoria 2 $227,000 $255,000 Hawker St Mt Victoria 1 $305,000 $300,000 Hawker St Mt Victoria 5 $975,000 $900,000 Fallowfield Ave Mt Victoria 4 $747,000 $690,000 Scarborough Tce Mt Victoria 6 $808,000 $840,000 Woodridge Dr Newlands 3 $391,000 $345,000 Lyndfield Lane Newlands 3 $399,900 $350,000 Stella Gr Newlands 3 $403,750 $360,000 Colchester Cres Newlands 3 $355,000 $375,000 Adelaide Rd Newtown 3 $757,000 $680,000 Rintoul St Newtown 3 $520,000 $520,000 Hanson St Newtown 2 $551,000 $430,000 Rintoul St Newtown 2 $447,500 $445,000 Hanson St Newtown 3 $445,000 $400,000 Armitage St Ngaio 4 $675,000 $530,000 Ambala Way Ngaio 4 $780,000 $730,000 Awarua St Ngaio 3 $465,000 $410,000 Fox St Ngaio 0 $162,000 $144,000 Kenya St Ngaio 3 $343,500 $320,000 Ngaio Gorge Rd Ngaio 2 $320,000 $295,000 Chelmsford St Ngaio 3 $590,000 $520,000 Fox St Ngaio 4 $527,000 $510,000 Chelmsford St Ngaio 4 $560,000 $550,000 Makererua St Ngaio 4 $460,000 $440,000 Pembroke Rd Northland 6 $780,000 $640,000 Creswick Tce Northland 2 $231,000 $250,000 Mataroa Ave Northland 4 $1,043,000 $1,000,000 Kaihuia St Northland 3 $418,000 $430,000 Oriental Pde Oriental Bay 2 $1,350,000 $1,650,000 Cara Cres Paparangi 3 $405,500 $375,000 Trebann St Paparangi 4 $558,000 $530,000 Imran Tce Rangoon Hts 4 $615,000 $860,000 Oriel Ave Redwood 4 $510,000 $485,000 Tirangi Rd Rongotai 3 $465,000 $455,000 Roseneath Tce Roseneath 3 $737,200 $660,000 Maida Vale Rd Roseneath 6 $730,000 $725,000 Marine Pde Seatoun 3 $1,361,000 $1,325,000 Breaker Bay Rd Seatoun 2 $480,000 $550,000 Beere Haven Rd Seatoun 5 $1,055,000 $1,250,000 Khyber Rd Seatoun 4 $785,000 $830,000 Beacon Hill Rd Strathmore 4 $590,000 $590,000 Paratu Way Strathmore 0 $300,000 $740,000 Walden St Strathmore 4 $431,000 $425,000 Tinakori Rd Thorndon 4 $1,315,000 $1,275,000 Hobson St Thorndon 5 $1,150,000 $940,000 Hobson St Thorndon 2 $435,600 $420,000 Oban St Wadestown 3 $681,000 $590,000 Wadestown Rd Wadestown 4 $640,000 $750,000 Weld St Wadestown 4 $505,000 $550,000 Cecil & 19 Mairangi Roads Wadestown 4 $1,270,000 $1,255,000 Vautier Ave Wadestown 3 $400,000 $400,000 Oban St Wadestown 4 $412,000 $415,000 Barnard St Wadestown 3 $687,500 $640,000 Wadestown Rd Wadestown 4 $1,651,100 $2,000,000 Blackbridge Rd Wadestown 3 $500,000 $520,000 Wadestown Rd Wadestown 3 $480,000 $460,000 Wakefield St Wtn Central 2 $1,100,000 $1,075,000 Lambton Quay Wtn Central 3 $430,000 $620,000 Featherston St Wtn Central 0 $105,000 $180,000 Cuba St Wtn Central 2 $590,000 $590,000 Webb St Wtn Central 1 $275,000 $250,000 The Terrace Wtn Central 2 $370,000 $350,000 Willis St Wtn Central 1 $287,500 $230,000 Cuba St Wtn Central 2 $305,000 $325,000 Tennyson St Wtn Central 2 $417,500 $380,000 Wakefield St Wtn Central 3 $493,000 $530,000 Vivian St Wtn Central 3 $345,000 $385,000 The Terrace Wtn Central 6 $525,000 $540,000 Webb St Wtn Central 2 $400,000 $410,000 Allenby Tce Wtn Central 11 $1,240,000 $980,000 Worcester St Wilton 3 $440,000 $430,000 Pembroke Rd Wilton 5 $560,000 $480,000

recent Wellington residential property SalesStreet Name Suburb Beds SOLD RV Street Name Suburb Beds SOLD RV

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