News and Publications

The Value of a View

The value of a view and who owns it has been highlighted by the recent case in Wellington where the “million dollar harbour views” have been built out when a “fort” was built on the neighbouring property.

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Rural Market Commentary

Recent activity in the pastoral property sector has been very solid, with the demand reflected in the high prices received for recent sales. Well presented properties within good localities are strongly sought after.  This demand is due to a mix of strong commodity prices and low interest rates in a competitive lending market.

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Residential Market Commentary

After a prolonged period of limited growth, the HB residential market has finally awoken with some real momentum.

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Commercial Market Commentary

Increasing transactional volumes are beginning to appear in the Hawkes Bay commercial property market in response to lower returns on bank deposits and other forms of investment as well as confidence returning to the region underpinned by the prediction of ongoing solid returns in the pastoral farming, fruit growing and viticulture sectors and increasing visitor numbers.

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Earthquake Prone Buildings

Background

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Gisborne Commercial Market Update

The commercial market has been characterised by relatively low sale volumes over the past year. Superior properties are strongly sought after and are attracting low yields, while lesser presented, vacant and seismic deficient properties are meeting with limited demand.

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Gisborne Rural Market Update

The Gisborne rural market is relatively strong with most recent pastoral farms selling well above Rating Value levels. Waihina Station is a good example with this 753 ha block selling 24% above the RV in April 2015, and Burnbrae Station, sold over 9% above RV in March 2015.

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Understanding Rating Values in Gisborne

The latest rating values for the Gisborne District have been in effect since July 2014. Comment on their relevance and how they can differ from actual sales follows:

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Gisborne Residential Market Update

The Gisborne residential market has shown some heightened activity as of late. This has resulted in a significant increase in sale numbers throughout the region but with median price levels slightly easing.

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Wairoa Real Estate Market Commentary - Lucas Paku

The Hawkes Bay residential market has continued to show strong growth in terms of sale volumes over recent months, while median value levels have remained steady.

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Congratulations Susie Penrose

TelferYoung (Hawkes Bay) Limited would like to congratulate Susie Penrose on her latest accolade. Less than one year after qualifying as a registered valuer, Susie has been invited by her peers to sit on the Valuers Council as the young valuers representative under the Property Institute of New Zealand’s Young Leader Program. Susie will, not only be one of only two Woman sitting on the council this year when they reconvene in June, she will also be Hawkes Bays only representative in  the Young Leaders programme.

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Commercial Market

The New Zealand outlook for economic growth is forecast at around 3.3% for the year to March 2015. This compares to 2.3% actual growth for the March 2014 year. NZIER forecasts indicate economic growth will hold at solid levels over the next several years, driven largely by continuing residential demand in Auckland and Canterbury.

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Residential Market

The Hawke's Bay residential market has shown some heightened activity as of late with this resulting in a significant increase in sale numbers throughout the region but with median price levels remaining constant.

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Leasehold Freeholding Option

CBRE, on behalf of Ironpot and Corunna Bay Holdings, put the lessor’s interests associated with 33 Napier commercial ground leases, up for sale. Initially the sitting lessees were given first option to purchase and effectively freehold their site with expressions of interest closing in November 2014.

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Understanding Rating Values

In light of the recent round of rating revaluations released on 1 September 2014 for the Napier City District, it is timely to comment on their relevance and how they can differ from actual sales. The purpose of the Rating Value (RV) is to  apportion rates within your local authority. However they are often used as a guide to market and purchase property and as a negotiation tool. Most people do not fully understand how they are compiled. Here is a snap shot of what an RV is:

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