Leonie's blog

Investment property buys

The tax rule changes were widely expected to remove claimable depreciation on investment property, though expect to see some landlords reconsidering their portfolio with some looking to sell and fewer people buying investment properties***.  I have had several enquiries at the coal face since the budget, and as an experienced investor, I can guide you through buying or selling investment property.  With more investment properties coming onto the market, look for some very good buys.  Check out my website for criteria on purchasing an investment property or give me a call for advice. 

*** BNZ Weekly Overview

Leonie Snook, Top Wellington Real Estate Agent

Export-led recovery

Figures out yesterday show New Zealand’s first annual trade surplus in almost 8 years, at $161 million for the year to April.  The Treasury, on the back of government’s budget announcements, are forecasting economic growth to reach 3.2% for the year to March 2011 (up from -0.3% for the year to March 2010) and ranging around 3.0% for the 3 years following.  Unemployment is forecast to fall to 6.2% for March 2011 (down from 7.1% for March 2010), and is forecast at 5.5%, 5.1% and 4.6% for the three years following**.  This is all good news for the property market and house prices in the medium term, and is against a backdrop of housing shortage with demand expected to exceed supply.  Buyers are out there, and now is a great time to trade up!  If you or someone you know is thinking of moving, drop me an e-mail for a free and no obligation market opinion (leonie@leoniesnook.com).

* Mercer 2010 Quality of Living Survey
** The Treasury, March quarters

Wellington has just ranked 12th (out of 221 cities) in a global poll of the world’s most liveable cities.  While we are left scratching out heads about how Auckland ranked 4th :-), having two of our major cities in the top dozen in the world is great, and of course positive for migration and our property market.  I work all over this awesome city, so if you or anyone you know wants to stay in touch with property or needs high quality real estate advice, give me a call or pass my update on (Leonie 027 664 6063).

Leonie Snook, Top Wellington Real Estate Agent

September has been another record breaking month for traffic to NZ real estate websites with over 1,500,000 unique browsers.  The top four real estate websites saw another month of growth in unique visitor numbers for September:

According to an article on the Landlord Website there was a 19% increase in listings in September 2009.  This could be attributed to the 'Spring Fling' however with prices increasing and vendor expectations of prices increasing we do see and increase in consumer confidence.

Of course there is talk of Capital Gains Tax - the government and their media team are 'chip... chip... chipping' away at that one with various media releases and statements, but that doesn't seem to have dampened the rise in prices or buyer activity going on.

Mortgagee sales continue to rise especially in Auckland and in the most part with investors.  If you are struggling with payments please call me first - we may be able to sort out a plan to svae your house from the bank...

Have a great weekend, Leonie Snook, Sales and Marketing Consultant, Harcourts, Wellington.

Well, the latest media release is saying ‘watch out’ multiple property owners who are too highly geared… mortgagee sales are up. Check out the NZ Herald article. 81% of the mortgagee sales were people who own more than one property. Many people were caught up in the buying frenzy in 2007. With job losses looming and bosses cutting back on wage increases… we will see more and more of these. My advice would be to talk to someone before it is too late. Do not let pride get in the way. There are business out there that can help you out including www.avenuehomesnz.com. If all else fails I urge you to not try and sell your property yourself… the percentage of homes that sell privately for an above average price is tiny. I am an avid property investor and would not do this. You (the seller) gets overly involved and buyers do not react well to dealing directly with sellers. Good agents (and I mean good) are worth their weight in gold in their marketing, product and negotiation skills. I want the best price for my properties so I employ the best.