"Most of our Agents grew up listening to 'Fred Dagg', so it's only fitting we commemorate his life.
Ladies and Gentlemen, with his own take on the terminology of Real Estate talk.... I give you, the one, the only... John Clarke!"
5 Sinclair Street, Greerton
This family home in the heart of Greerton (Greenpark Primary School around the corner, swimming centre and gym just down the road) truly has to be seen - there's no doubt about it. Newly carpeted and painted upstairs, with lovely grassed areas outside just waiting for kids and a trampoline. Give Emma a call today to find out more - 027 736 6256.
It's hard to think of anything other than the devastation cyclone Debbie has caused this week, but here's some news on household borrowing that's also been in the news of late.
New Zealand households are now borrowing more relative to their disposable incomes than they did before the global financial crisis when a red-hot housing market was encouraging consumers to tack a little onto the mortgage to pay for big ticket purchases.
Kiwi household debt is now a record 167 per cent as a proportion of disposable income, and New Zealand Institute of Economic Research senior economist Christina Leung says that's a key risk to the economy.
Reserve Bank data show total household borrowings were up 8.7 per cent to $248.16 billion in January from a year earlier. The bulk of that was in housing, which was up 9 per cent at $232.07b.
However, a 4.6 per cent increase in consumer credit to $16.1b continued a trend of accelerating growth.
"With consumers feeling more confident about discretionary spending we're seeing a pick-up in consumer credit growth," Leung said.
"There are two key risks from these growing debt levels in terms of serviceability: interest rates are likely to be on the way up, and the potential for a downturn in the labour market meaning reduced incomes for households."
The Reserve Bank is watching local consumer spending closely after being surprised by an acceleration in consumption through the second half of last year.
Record levels of net inbound migration and tourism have been bolstering the country's retail sector, while at the same time jobs have been plentiful enough to meet the demands of an expanding population, with high participation rates and unemployment by global standards.
RBNZ governor Graeme Wheeler today reiterated his fears about the local housing market, which has faced an imbalance between supply and demand, pushing up prices at a time when tepid inflation called for record low interest rates.
While he noted there's been some moderation in house price inflation in recent months, those imbalances and the debt servicing costs will "likely be important influences on household spending and the level of aggregate demand in the economy".
Wheeler reaffirmed the central bank's view that the official cash rate was unlikely to move from the 1.75 per cent level it's currently at until mid-2019, although NZIER's Leung expects the RBNZ will move next year as inflation returns to the 2 per cent mid-point of the bank's target band.
Lenders are already raising mortgage rates as credit growth outstrips their ability to fund it through term deposits, forcing them to raise money from more expensive international wholesale markets.
"We do expect these trends to continue and for further lifts in mortgage rates over the coming years," Leung said.
Still, the RBNZ will "wait and see and remain on hold until the middle of next year" to ensure consumer prices start rising before moving the OCR.
Once interest rates do start rising, Leung said the "highly indebted household sector is a key risk to watch out for in terms of how this increasing debt will be serviced".
Source - Business Desk, NZ Herald.
10 Pumice Glade, The Lakes, Tauranga
For Sale: $995,000
Marketed by Emma Tillott 0277 366 256
This stunning architecturally designed family home oozes class and style with its own tranquil feel. Solid plaster over brick construction with high stud interior sets the stage for elegant living in this 7 years young home. Featuring 4 bedrooms, 2.5 bathrooms, spacious open plan living, dining and kitchen with huge 2nd living area (cinema room) perfect for those cosy winter nights in front of the gas fire and TV. Double garage, off street parking, separate laundry and numerous special features that must be seen to be truly appreciated.
825m² of land surrounds this unique piece of real estate, offering multiple outdoor entertaining areas all flowing effortlessly together throughout this multi-level home, providing everyone with their own space to relax. Situated at the end of a quiet cul-de-sac, with elevated views to the Kaimai's to appreciate those spectacular sunsets. Just minutes from the shops, supermarket, schools and the motorway for quick assess to all areas of Tauranga.
So Call Emma today on 027 736 6256 to arrange your private viewing. You'll be glad you did.
To view more photos go to http://www.nz.open2view.com/properties/394338
1406-72 Devonport Road
For Sale: By Negotiation
Marketed by Colin McGonagle
Two bedrooms (master with ensuite and walkin wardrobe), modern kitchen with gas cooking, spacious living and balcony. Secure carpark and locker. Onsite restaurant and gym an option.
You can choose to live permanently in this Award winning highrise, as a holiday retreat (lock up and leave) or rent it out. Downtown shopping, cafes, theatres and walks at your doorstep. This is sure to delight.
Phone Colin for your personal inspection.
To view more photos go to:
"Those three things are what make our Agents tick. They're all out in full force today, doing appraisals
now the weather has brightened up. Why not ring us to see if one of our team is in your vicinity - you may just
be surprised at what your home is really worth.
Have a great day!"
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Stay safe out there!"
42 A/B/C/D/E Olivine Street Poike
For Sale: By Tender
Listed by: John Foot (mob. 021 525 258) & Rose Thomas (mob. 021 284 6627)
This is a unique opportunity to purchase six purpose built unique student accommodation dwellings with the potential to be used for whanau housing, single adults or seasonal workers. A 3 bedroom home could house an on-site manager or caretaker.
Six dwellings on five separate freehold titles with a total land area of 3,751m².
42A: 3 bedrooms renting for $450pw with double garage
42B: 6 bedrooms renting for $170pw per room including power
2 bedroom disabled unit renting for $450pw including power
42C: 6 bedrooms renting for $150pw per room including power
42D: 6 bedrooms renting for $150pw per room including power
42E: 6 bedrooms renting for $760pw total
Water, power (where shown), rubbish collection, grounds maintenance and weekly cleaning of the bathrooms and common areas are included in the rent of the 6 bedroom units.
Total current cash flow when fully let = $4,480 per week = $232,960 per annum.
For sale by Tender closing at 4pm on Thursday 27 April 2017. Offers may be for all or any combination of the individual properties.
Viewing is by appointment only as the properties are currently tenanted.
Call for an information pack - John Foot 021 525 258 or Rose Thomas 021 284 6627
To view more photos, go to http://www.realestate.co.nz/3045408
New Zealand residential building consents posted their biggest monthly gain in eight months in February, snapping out of a lull that persisted through spring and summer.
Seasonally adjusted dwelling consents rose 14 per cent to 2,605 in February, posting its first double-digit growth since June last year, with new housing permits also gaining 14 per cent to 1,858, Statistics New Zealand said. Annual residential permits rose 8.7 per cent to 30,162 in the year through February 28, and new house consents gained 9.1 per cent to 21,326.
New building issuance has softened in recent months as the energy in the Auckland housing market slowed with the imposition of lending curbs and tougher credit criteria, and on an actual basis, residential building consents were 1.6 per cent higher in February from a year earlier at 2,418, with new housing permits up 2.9 per cent at 1,761.
"While we saw a strong seasonally adjusted increase this February, the actual number of homes consented was up only slightly from last year," business indicators senior manager Neil Kelly said in a statement.
New Zealand's property market remains problematic for policymakers, with central government laying much of the blame on local authorities' planning processes in stifling supply which has led to a bottleneck driving up prices as the nation experiences record inbound net migration. That's led to a massive pipeline of building work to meet the housing shortfall, although the building sector is facing capacity constraints, especially in Auckland where the need is most acute.
Today's figures show 800 new consents worth $342 million were issued in Auckland in February, compared to 787 permits worth $404m the same month a year earlier. In the year through February, 9,310 new dwelling consents were issued in the country's biggest city, still below the 13,000 estimated to be needed to keep pace with an expanding population.
Westpac Banking Corp senior economist Satish Ranchhod said there had been "soft issuance" in Auckland in recent months, but the city experienced a strong rise in multi-unit dwellings in the latest figures.
"With the Unitary Plan having now cleared legal hurdles, it appears developers are coming back into the market. Nevertheless, with only around 10,000 consents issued over the past year, the level of issuance in Auckland still remains below what's needed to keep up with surging population growth in the region," Ranchhod said in a note. "We expect to see consenting and home building rising over the coming year."
Consents in Canterbury continued to taper off as the residential reconstruction effort slows, with 361 new permits issued in February, down from 525 a year earlier.
The value of non-residential building work rose 10 per cent to $410m in February from the same month a year earlier, while floor area consented shrank 13 per cent to 189,000 square metres. On an annual basis, the value of non-residential work rose 5.3 per cent to $6.09 billion while floor area shrank 18 per cent to 2.63 million square metres.
Source: NZ Herald
For Sale: 23 Kingswood Road, Brookfield, Tauranga
Salesperson: Dave Elers 027 543 2792
Deadline Sale closes 27/4/2017 at 4pm 115 Cameron Road, Tauranga (unless sold prior)
Immediate possession is available on this property. Featuring 3 bedrooms, open plan living, great interaction through stacker doors onto the large BBQ deck. Single garage, Plenty of section for the kids to entertain themselves.
Short walk to Brookfield shopping centre. Also handy to various schools in the area. This is a must view be quick to secure this gem.
Call Dave for a viewing.