The Palmerston North residential market is, in our opinion, at a healthy but not booming state at present. From a volume point of view, there are between 400 and 450 properties for sale in the city. REINZ reports that there were 118 sales in November, down from the 139 sales in October. The medium days on the market is 28 days.
Well presented and well located properties are the sort after ones. Anything needing lots of work isn’t appealing to buyers at the moment. Over-riding all of this is that buyers are particularly fussy at the moment and they are not rushing into buying just anything and if a property isn’t priced right, it will be rejected.
Sales are spread right through the price ranges, with no particular buyer group standing out over others.
Real Estate Agents Authority/ Real Estate Institute of NZ
On the 17 November 2009 we welcomed in the new Real Estate Agents Act 2008. With the new Act came the establishment of the Real Estate Agents Authority. The Authority is a Crown entity, established under the Real Estate Agents Act 2008 to provide independent oversight of the real estate industry, increase consumer protection, raise industry standards and to raise public confidence in the performance of real estate agency work. Their website is www.reaa.govt.nz.
The Real Estate Institute of NZ provides key services to members of the real estate industry- being the voice of the industry, representing the industry with the Government and the Real Estate Agents Authority, education services, and essential statistics services. It is the REINZ statistics that we have quoted in this report.
Marketing
Be positive, leave no stone unturned, market the property as a “hot seller” and you will have no reason to doubt whether you have done enough marketing to place your property in the “hot to sell” category. We are happy to discuss all options for you to make an informed decision. You need not rush this decision.
The Manawatu Property Press is the main source of activity for buyers actively looking. Any advertising must include this publication in the marketing mix.
The Manawatu Evening Standard is frequently used to source passive buyers. By this I
We mean people who are not actively looking but may casually look in the paper and see a “wow” property.
We would be delighted to assist if you require any further information.
Each week, well known real estate industry expert, Barry McKean of Property Brokers, releases his views, opinions, observations and predictions of the Palmerston North real estate market.
Monday, December 21, 2009
The Spotlight is on the Suburb of Riverdale
Although Riverdale is not a council official suburb, for those whom live there and those aspiring to, it is very much a suburb in its own right.
Riverdale is made up of approx 839 residential homes and many being built in the eighties when it was the must place to live. As a result there is a diverse range of real quality homes, with still a surprising number of original owners still living in them.
Riverdale has remained an area where the owners have real pride in their properties and as you drive around the streets you can admire the well kept grounds.
We think this is one of the instant appeals, coupled with schooling, river walks, and amenities close at hand.
These properties are always in high demand, which is brilliant , making this suburb a good sound investment.
To date in 2009 there have been 55 property sales. Bayleys are very pleased with their contribution made to this total.
A recent sale at 11 Ruha Street highlighted the area interest with a staggering level of internet activity and an offer being received within 24 hours of the property press being released and sold at the asking price shortly thereafter.
Have a Happy New Year
Riverdale is made up of approx 839 residential homes and many being built in the eighties when it was the must place to live. As a result there is a diverse range of real quality homes, with still a surprising number of original owners still living in them.
Riverdale has remained an area where the owners have real pride in their properties and as you drive around the streets you can admire the well kept grounds.
We think this is one of the instant appeals, coupled with schooling, river walks, and amenities close at hand.
These properties are always in high demand, which is brilliant , making this suburb a good sound investment.
To date in 2009 there have been 55 property sales. Bayleys are very pleased with their contribution made to this total.
A recent sale at 11 Ruha Street highlighted the area interest with a staggering level of internet activity and an offer being received within 24 hours of the property press being released and sold at the asking price shortly thereafter.
Have a Happy New Year
Christmas Cheer Promotion
My Christmas Cheer to You
With Christmas now just a few days away, our attention is definitely more focused around the festive season. Retailers Christmas advertising campaigns are in full swing with what appears an endless supply of options, and if your home is anything like mine my children wanting one of everything that’s on offer.
I enjoy the Christmas period with watching the kid’s excitement during build up and then some time to relax and catch up with family and friends in the New Year.
Our local real estate market has been steady all year with good activity in all price sectors and there appears no sign of slowing down with good levels of inquiry from genuine buyers. I am certainly keen to see this continue through well into the New Year, assisting vendors to achieve a good hearty result quickly.
Christmas is a time for giving & sharing
I would like to play my part in the Christmas cheer by offering $1000 Worth of Grocery Vouchers* to those homeowners choosing to list their property exclusively with me during the months of November through to
31st January 2010. These vouchers will be redeemable upon an unconditional sale.
Your friends, family and work colleagues are also welcome to take up this offer, so feel free to pass on this good Christmas cheer.
As a dedicated professional and family man it’s a pleasure to offer this, and I welcome your support through the remainder of the year and into 2010.
Have a very Merry Christmas & Happy New Year and look forward to hearing from you soon
Warm regards
Barry McKean
Bayleys Residential Advisor
Mob: 021 372 422 Bus: o6 350 6062
Email: barry.mckean@bayleys.co.nz
With Christmas now just a few days away, our attention is definitely more focused around the festive season. Retailers Christmas advertising campaigns are in full swing with what appears an endless supply of options, and if your home is anything like mine my children wanting one of everything that’s on offer.
I enjoy the Christmas period with watching the kid’s excitement during build up and then some time to relax and catch up with family and friends in the New Year.
Our local real estate market has been steady all year with good activity in all price sectors and there appears no sign of slowing down with good levels of inquiry from genuine buyers. I am certainly keen to see this continue through well into the New Year, assisting vendors to achieve a good hearty result quickly.
Christmas is a time for giving & sharing
I would like to play my part in the Christmas cheer by offering $1000 Worth of Grocery Vouchers* to those homeowners choosing to list their property exclusively with me during the months of November through to
31st January 2010. These vouchers will be redeemable upon an unconditional sale.
Your friends, family and work colleagues are also welcome to take up this offer, so feel free to pass on this good Christmas cheer.
As a dedicated professional and family man it’s a pleasure to offer this, and I welcome your support through the remainder of the year and into 2010.
Have a very Merry Christmas & Happy New Year and look forward to hearing from you soon
Warm regards
Barry McKean
Bayleys Residential Advisor
Mob: 021 372 422 Bus: o6 350 6062
Email: barry.mckean@bayleys.co.nz
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