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Real Estate News – Property News. propertynoise.co.nz  is about sharing all things real estate and property in New Zealand (and a bit of Australia and International too). Instead of viewing a multitude of news sites to find out the very latest property news – simply come here. Each day, many times a day, everyday we update the site to ensure we have your property and real estate news in one handy place. All the real estate news comes from a variety of property news sites whom do a superb job. We simply refer/ link you to their sites and we make no claim to their material.

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Auckland first-home buyers are active in six suburbs where places can be bought for an average $641,000 to $708,000, new figures out today reveal.

Mangere was the most popular this year, with 39 per cent of all sales going to first home buyers at an average $641,000, up 13 per cent on last year, according to CoreLogic data.

READ MORE: • Mangere housing scheme to house 4000 residents in 1200 homes

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SEE OUR DEDICATED PAGE to the New Zealand Earthquake that HIT at 12.02AM Monday 14 November, 2016 and it’s aftermath HERE

FEATURE PROPERTY: ABSOLUTELY UNIQUE DECEASED ESTATE
Whilst to the untrained eye, this is one very run down building, to those with vision it is one big opportunity. The only things for certain are that this Central Devonport deceased estate is ready and waiting for the next chapter in its colourful life, and the Executors are keen to see it sold.

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19 Rattray Street, Devonport

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Sherelle & Don Benson – Top Agents for Total House Sales in Takapuna

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SEE OUR LATEST E – NEWSLETTER HERE! Monday 5 December, 2016

 

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The Latest Property News & Real Estate News

A rare slice of Tauranga beachfront property was snapped up fast on the weekend when four Papamoa beach sections worth $4.15 million sold in two hours.

A spokesman for the 24ha Coast Papamoa Beach subdivision near Tauranga said the sections went for $1.3 million, $1.25 million, $900,000 and $700,000 and sold between noon and 2pm.

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How residences on the site might look once homes are built there.

 

 

CHOOSE your suburb, enter your home’s estimated value, and click on a button to see how a crash, steady rate, or growth could change the value in one year.

bubble-calculator

Use the bubble calculator  to see how crash, steady rate, or growth scenarios would change the value of your home in one year.

 

 

Auckland house prices stop rising in November

After seven years of constantly rising prices, November’s sales data points to the Auckland housing market ‘turning’ but remains well positioned to achieve a soft landing.

“Signs the rate of price increase has been slowing have been there for some months but November’s sales data confirms that for the time being at least, Auckland prices have stopped rising,” said Peter Thompson, Managing Director of Barfoot & Thompson.

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Twenty-five sections at one of Queenstown’s newest subdivisions were snapped up within two hours on Saturday.

As the average house price in the resort hit $1 million, Melbourne-based developers RCL Group released stage three of its relatively affordable neighbourhood.

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Hanleys Farm subdivision is between the base of the Remarkables and Lake Wakatipu. Photo / Facebook

 

 

 

Reserve Bank says lending to investors has halved in four months

Nearly 100 Auckland suburbs have a median value of more than $1 million new data shows.

Figures from qv.co.nz E-valuer show Auckland has 99 million-dollar-plus suburbs and just three suburbs under $500,000.

Despite a reported cooling in the market 10 more suburbs have joined the million-dollar club in the past two months.

West Auckland gained its first $1m suburb with West Harbour ticking over to $1,010,600 this month.

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The number of Auckland suburbs with a median property value of more than $1m reached 99 this month. Photo / Doug Sherring

 

 

 

In New Zealand the average residential property is worth $622,000 – up more than 50 per cent since 2012.

But the headline figure masks a much more varied picture around the country.

An analysis of property data from 751 suburbs, provided by CoreLogic, shows that while values have doubled in Auckland, in some parts of the country they are still yet to recover from the crash of 2008. In others, the boom appears to be spilling over and driving up prices.

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NEVILLE MARRINER/FAIRFAX NZ
You can’t talk about New Zealand’s property boom without first looking at what has happened in Auckland.

 

 

 

A family is suing a high flying real estate agent for hundreds of thousands of dollars for failing to tell them the pricey Mt Eden villa they bought was next door to a drug rehab centre.

Harcourts agent Michael Robson is one of the firm’s top-selling agents with a string of accolades during his stellar 20-year career.

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Harcourts agent Michael Robson is one of the firm’s top-selling agents with a string of accolades during his stellar 20-year career.

 

 

 

 

There are few things scarier than a “housing bubble”. But what actually is it? And how would we know if we were in one? Susan Edmunds reports as part of Stuff‘s ‘Blowing Bubbles’ series.

WHAT IS A BUBBLE?

There is no one definition of what makes a housing “bubble”. Usually, it is only in hindsight that one becomes clear.

A bubble can happen around any asset – one of the most infamous price bubbles in history involved tulip bulbs in the 17th century.

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ROBYN EDIE/SUPPLIED
Hugh Pavletich says house prices should be at a level of three times income.

 

 

 

Auckland’s housing market is cooling off as demand eases, according to figures released by realestate.co.nz

“Auckland was the only region across the country where demand is down on the same period last year,” said realestate.co.nz chief executive Brendon Skipper.

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New figures show Auckland’s housing market is cooling off as demand eases. Photo / 123rf

 

 

 

The housing bubble burst in the UK and Ireland in 2008. Stuff reporter John Edens, who lives in Wellington and hails from Northern Ireland, bought an entry-level house amid the hype and gives an insider’s account of the unprecedented conditions that led to one of the worst housing crashes in the developed world.

The moral of this story is: Don’t believe the hype.

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Google. Houses in the central Belfast street where reporter John Edens bought during the boom.
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Taku Ekanayake is a 28-year-old Uber driver in Sydney. But he’s not your average Gen Y.

He’s also a real estate investor with eight properties and $1.5 million of debt.

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Taku Ekanayake is a 28-year-old Uber driver in Sydney, who owns eight properties and plans to have 10 by November 2017.

 

 

 

Manawatu 1994 is the latest Palmerston North real estate company to be fined for a price-fixing scandal.

The company, which trades under the LJ Hooker banner, has been fined $1.25 million following a hearing in the Auckland High Court.

The Commerce Commission brought the charges against Manawatu 1994, Unique Realty and Property Brokers limited in 2015 alleging the companies agreed on listing costs.

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A WOMAN who has bought a dream apartment in Sydney thanks to sensible investment, is advising twenty-somethings to think ahead when it comes to buying property.

Gabi Stephen, 31, and husband Joey, 36, have secured a $1.1 million two bed unit on Fairy Bower Road, near Shelly Beach on the city’s northern beaches.

Mrs Stephen says buying in to the tough Manly market was made possible because she bought an investment unit in Pennant Hills when she was 25.

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Gabi and Joey Stephen have been able to secure a $1.1 million dream home thanks to the investment she made in her mid-twenties. Picture: Annika Enderborg

 

 

 

The multi-million dollar home of the late Sir Paul Holmes has sold for an undisclosed amount.

Christine Thomas, from Harcourts Hawke’s Bay’s rural team, confirmed Mana Lodge was sold last week.

The buyer was not a local and not from overseas, she said.

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Mana Lodge, in rural Hawke’s Bay, has sold for an undisclosed amount.

 

 

A real estate agent has been censured for failing to tell buyers the building inspection reports he provided were paid for by him and prepared by his own company.

West Auckland agent John Goodrum has been fined $5000 by the industry watchdog for unsatisfactory conduct.

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West Auckland real estate agent John Goodrum has been censured and fined for failing to disclose information to buyers. Photo / Supplied

 

 

 

SYDNEY: Australia’s “spring-selling” real estate season is seeing a defiant return of Chinese buyers who are undaunted by lending restrictions aimed at curbing their interest in the country’s sky-rocketing housing market. Financiers and estate agents say Asian investors have found new avenues to re-enter the market, including targeting cheaper homes and settling in cash. Others are turning to groups of wealthy individuals or foreign-owned banks for loans, after Australian banks turned off funding to overseas buyers this year.

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A sold sticker is attached to a real estate agent’s sign outside the front of a residential property in central Sydney, Australia, November 22, 2016. REUTERS/David Gray

 

 

 

A bitter squabble within the rich list Huljich family that has pitted the family’s matriarch against her own son and grandson has been kept secret for now by courtroom manoeuvring.

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Elizabeth Huljich filed a claim in the High Court at Auckland in later 2014 alleging her son and grandson were liable for a $264,000 mortgage registered across her home. Photo / Jason Oxenham

 

 

 

Caution prevails in the Wellington commercial property market, with some deals on ice as buyers ask for more time to get detailed earthquake assessments.

Meanwhile, businesses are looking far and wide across the Wellington region for seismically sound accommodation while their buildings are closed.

“It’s been frantic,” Colliers Wellington’s executive director of commercial leasing, Jim Pinson, said.

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ROSS GIBLIN
Wellington seen from the air after the 7.8 quake. The skyline’s unchanged – but there are cracks beneath the surface.

 

 

 

With a price tag of $5.7 million the couple who purchased a stunning Mount Maunganui property in June paid Tauranga’s top residential sale price for 2016 – and they couldn’t be happier with their purchase.

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A 5.7 million dollar mansion on Oceanbeach Rd was the most expensive home sold in Tauranga this year. Photo/Andrew Warner.

 

 

New Zealand’s top hotspots 2013-23
• Hobsonville 245 per cent (12,390 people)
• South west Christchurch 105 per cent (122,790 people)
• Central Christchurch 83 per cent (4270 people)
• Papamoa 74 per cent (5190 people)

Population growth hotspots have been identified throughout New Zealand in a new report that shows Hobsonville in Auckland is about to “take off” with 254 per cent growth in just a decade.

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Hobsonville Point, in an area forecast to have New Zealand’s fastest-growing population in the decade from 2013.

 

 

 

A NEW Zealand couple have bought the penthouse in the yet-to-be built Northcliffe Residences in Surfers Paradise for $6 million.

Australasian Zintel Group retired chairman Nick Gordon and his wife Andrea snapped up the 600sq m two-level residence in the $111 million beachfront development, which is poised to rise 26 levels at 3 Northcliffe Tce.

The deal is believed to be the highest off-the-plan sale since the global financial crisis.

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Kiwi technology entrepreneur Nick Gordon and wife Andrew have spent $6 million on the penthouse in the Northcliffe Residences project at Surfers Paradise.

 

 

 

New clamp-downs on residential property investors appear to be working.

Figures from the Reserve Bank show the amount investors borrowed to buy property dropped $287 million between September and October to hit $1.453 billion – the lowest it has been since January.

New nationwide rules came into force from October 1 requiring most investors to have a minimum deposit of 40 per cent to get a mortgage.

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Curbs on property investor lending appear to be working. Photo/Michael Craig.

 

 

 

Getting a home loan may get more difficult and more expensive in the next year unless banks are able to raise more money from the local market, says ANZ chief executive David Hisco.

Hisco made headlines in July with an opinion piece for the Herald warning that the housing market was “overcooked” and of the risk of a crash.

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A $23 million 31-property Auckland investor has hit back at critics who say greedy landlords like him are stopping them buying a property and says most people don’t realise how easy it is.

Ron Hoy Fong, QSM and third-generation New Zealander, this week said buying property was easy, anyone could do it, yet most New Zealanders were ‘just over broke’, working 9am-5pm with extremely limited financial knowledge.

Herald readers responded to an article this week.

Read more: What’s stopping us getting rich: multimillionaire landlord explains.

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Despite a nationwide drop in sales volumes, Auckland is one of four regions to hit record high median sale prices in October, while the national median price eased by $5,000 to $510,000, according to the latest figures released today by REINZ, source of the most recent, complete and accurate real estate data in New Zealand.

Press Release – October 2016

Regional Commentary – October 2016

Residential Data Tables – October 2016

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SOURCE REINZ

 

 

 

Many think that the Property Market won’t go through a correction phase. Why? Not sure – it always does and always will – and many can’t even remember back to 2007/08. When a market correction comes it can come hard!

We are starting to see some real concerns in global markets and now here locally…

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