The number of sales of dwellings including apartments in Waitakere City for August was 284. There were 11 sections sold. The median selling price was $762,000. The average days to sell was 37.

Capital Gains August 2012 – 2017 Median Prices

Green Bay            64.3%

New Lynn             86.7%

Royal Heights     109.2%

The number of sales of homes in Waitakere City for August was 284, this was up from last month. Prices also increased by 3.8% over July prices. These figures reflect increased prices and sales numbers across Auckland as a whole. Sellers are not willing it seems to sell below the prices they saw similar properties to theirs sell for a few months ago. There is little doubt that the shortage of houses is getting worse in Auckland as demand is exceeding the rate of building new ones.

On that basis prices would be expected to rise. Factors likely to hinder price rises however are (1) the tight lending requirements from banks mainly  because of the LVR (loan to value ratio) restrictions imposed by the reserve bank. (2) A change of government as a Labour led government would:

A. Restrict immigration which would reduce demand and slow many sectors of the economy such as hospitality and horticulture which are already short of workers and rely heavily on temporary immigrants / seasonal workers.

B. It is clear that there are not enough construction trades workers and immigration restrictions would prevent more houses been built.

C. Capital gains tax rise on any rental house purchase would mean less buyers for rental properties so prices would be inclined to fall. At the same time a sever shortage of rental properties could ensue. This rental shortage would tend to drive up rents but the government could well put restrictions on rent increases.

D. It looks likely that when a deceased estate property is sold it would not then be classed as a family home and so could be subject to capital gains tax. This is what people are calling an inheritance tax. If that became the case a properties market value would be less. Nothing is certain in life and this is especially true of the 2017 general election.

Do you want to know the value of your property? Its probably worth more than you think. Contact me for a free no obligation value update.

Best wishes,

John Goodrum

Licensee Agent REAA 2008

021945140

thelegendofthewest@gmail.com

The number of sales in July was 9 and the median selling price was $770,000. The average days to sell was 47. There was 1 sale over $1,000,000, which was 4 Dawnhaven Drive at $1,120,000.

6 Street Spotlight

Average Rent for Te Atatu Peninsula: 1st February – 31st July 2017

Did You Know?  

In the last 5 years there have been 3 sales at $2,000,000 or over in Te Atatu
Peninsula. In the last 12 months there have been 75 sales at $1,000,000 or above.

Quote of the month:

On a house for sale in the USA – Husband left us for a 22 year old. For sale by slightly bitter, newly single owner. Great family home, phone…….

Until next time,

Best wishes,

John Goodrum
021945140
thelegendofthewest@gmail.com

The number of sales in June on the Peninsula was 23 and the median selling price was $953,000. The average days to sell was 30. There were 8 sales over $1,000,000. The highest value sale was 57 Kervil Ave at $2,560,000.

6 Street Spotlight

Average Rent for Te Atatu Peninsula: 1st January – 30th June 2017

Did You Know?
The highest value of sales on the Peninsula in the past 10 years was $37,085,500 (29 sales) which was in June 2016 – last year.

Quote of the month:
Top 10 things to do when selling your home, 1# call John Goodrum, I will handle the other 9.

Until next time,

Best wishes,

John Goodrum
021945140
thelegendofthewest@gmail.com

The number of sales of dwellings including apartments in Waitakere City for June was 256. There were 94 sections sold. The median selling price was $776,000 and the average days to sell was 33.

Capital Gains June 2012 – 2017 Median Prices 

Ranui                 121.1%

Sunnyvale          90.6%

Massey               99.9%

The number of property sales in Waitakere City has fallen to 256. There has only been 2 June months with lower sales numbers in the last 20 years, which where June 2008 and 2010.

It is now 10 months since the 40% LVR was introduced and there are no signs of the market speeding up again at the moment. The uncertainty caused by the coming general election in September will certainly be a contributing factor.

 With net migration still running at record levels (close to 73,000) and a big shortage of homes in Auckland plus builders and related trades shortage it seems that prices will begin to rise again but probably not until after the
general election.

Do you want to know the value of your property? Its probably worth more than you think. Contact me for a free no obligation value update.

Best wishes,

John Goodrum

Licensee Agent REAA 2008

021945140

thelegendofthewest@gmail.com

The number of sales in May was 14 and the median selling price was $940,000. The average days to sell was 44. There were 3 sales of $1,000,000 or over. The highest value sale was 10 Celsmere Lane at $1,260,000.

6 Street Spotlight

Average Rent for Te Atatu Peninsula: 1st December 2016 – 31st May 2017

Did You Know?  

The lowest number of sales in a month on the Peninsula in the last 10 years was 7 sales which was in December 2008.

Quote of the month:

I finally figured out how to make a million dollars in the real estate business. You start out with two million dollars…..Real estate agents world-wide.

Until next time,

Best wishes,

John Goodrum

The number of sales in February was 18 and the median selling price was $1,030,000. The average days to sell was 22. There were 10 sales over $1,000,000. The highest sale was 1A Capstan Court at $1,300,000.

6 Street Spotlight

Average Rent for Te Atatu Peninsula: 1st September 2016 – 28th February 2017

Did You Know? 

That Te Atatu Peninsula was previously known as Te Atatu North. The name changed to Te Atatu Peninsula in 1997, that is now 20 years ago.

Quote of the month:

Real Estate is my life. It is my day job, if you will. But is consumes my nights and weekends too…..Ivanka Trump.

Until next time,

Best wishes,

John Goodrum
thelegendofthewest@gmail.com
021945140

The number of sales in December was 13 and the median selling price was $885,000. The average days to sell was 42. There were 4 sales over $1,000,000. The highest sale price was 19 Murray Road at $1,850,000.

6 Street Spotlight

 Average Rent for Te Atatu Peninsula: 1st July – 31st December 2016 

Did You Know?  

That the highest point on Te Atatu Peninsula is only 26 metres above sea level. Take tsunami warnings seriously.

Quote of the month:

As you slide down the bannister of life may all the splinters face the right way…..Irish Saying.

Until next time,

Best wishes,

John Goodrum

The number of sales in November on the Peninsula was 22 and the
median price was $953,000. That is up again from last month. The average days to sell was 28. There were 10 sales over $1,000,000. The highest sale price was $1,400,000 at 706 Te Atatu Road.

6 Street Spotlight 

Average Rent for Te Atatu Peninsula: 1st June – 30th November 2016

Did You Know?
Thomas Henderson and John McFarlane who brought all of Te Atatu Peninsula and Henderson land area together established a mill in Henderson in 1847, the suburb of Henderson is named after Thomas Henderson 1810—1886.

Quote of the month:
He who is not courageous enough to take risks will accomplish nothing in life -Mohammad Ali (1942 – 2016).

Until next time,

Best wishes,

John Goodrum

Welcome to the twenty-seventh edition of the West Auckland monthly Residential Landlords Newsletter.

I am a landlord myself and have been for over 30 years. I currently own rental properties in South Auckland, the North Shore and of course West Auckland. Being a high preforming Real Estate Agent (top 1% in New Zealand) for over 26 years and always working in West Auckland I know the real estate market and the rental market very well.  

In this and future newsletters I hope to provide ongoing up to date information relevant to landlords who own rental properties in West Auckland.  

Regular features will include: 

• Current sale prices
• Current mortgage rates
• Current rents
• A monthly suburb spotlight review
• A relevant feature article each month       

                                                                     Source REINZ

Source – J Goodrum – Internet search

 Source NZ Government building & housing

Source NZ department of statistics

Housing Shortage and Earthquakes

We already have a housing shortage in Auckland estimated to be around 40,000 houses. The problem is getting worse, not better. Auckland needs 13,000 new houses each year just to take care of the growth in the city’s population but last year there were only 9,700 building consents and not all of them will get built. New Zealand net migration is now sitting at a high of 70,000 for the year to September 2016 and a large portion of these settle in Auckland. 

The problem of building more houses even if more land is made available and Auckland Council is made by the government to speed up the process, is that there simply isn’t enough builders and tradespeople available. This was the case at the beginning of this month. Now, following the 7.8 magnitude earthquake and the many aftershocks around Kaikoura, there is a lot more homes to build, repair and strengthen in many places in New Zealand, including Wellington.  

This is going to worsen the availability of builders, tradespeople and contractors to develop bare land into residential subdivisions in Auckland as people and machinery are needed for infrastructure and building work elsewhere. 

What is the implications for house prices in Auckland? They will increase in price due to the increased cost to build as tradespeople will be able to charge more for their services, putting up the price of new builds and this will relate to increased prices for exiting houses. 

You can “tinker” all you like with LVR and so on but it basically gets down to economics 101. 

1. SUPPLY = DEMAND……..steady prices
2. SUPPLY greater than demand…..falling prices
3. SUPPLY less than demand……increasing prices. 

We are likely to have condition 3 for even longer now, perhaps 3 or more years. 

Until next time, 

Best wishes,

John Goodrum

Licensee Agent REAA 2008
021945140

The number of sales in October on the Peninsula was 19 and the
median selling price was $944,100. The average days to sell was 29. There were 9 sales over $1,000,000. The highest sale price was 5 Capstan Court at $2,000,000.

6 Street Spotlight

Average Rent for Te Atatu Peninsula: 1st May – 31st October 2016

Did You Know?  

In 1855 all of Te Atatu Peninsula plus a large area of Henderson including Lincoln Road were brought from the crown for 2,377 pounds and 15 shillings sterling. The purchasers were Henderson and McFarlane.

Quote of the month:

If a cluttered desk indicates a cluttered mind, what does an empty desk indicate? – Albert Einstein.

Until next time,

Best wishes,

John