blog

Blog

November Sale Summary All Over New Zealand 2019

November Sale Summary-All Over New Zealand 2019

When you are ready to sell your house, it does not matter the state of the market.  The Real Estate market goes up and down, with one cycle being a market for buyers with lots of houses available and the next for sellers, when prices are rising and all buyers are scrambling to get on to the property ladder.

Most homeowners have some idea of their home’s value, but a qualified Agent who is selling all the time has their finger on the pulse. Once TopNotch Agents NZ Ltd has identified the ideal agent for you to use,  the Agent will prepare a Market Appraisal which will tell you all that is for sale, has sold, and other details corresponding to your property.  You and the Agent will work together to come up with a figure that’s realistic to the current market today.

The Agent you need must be experienced and successful selling in your area and must be able to market your property to its best advantage, taking great photos and pushing forward all the good features it has to offer.

It can be a very stressful time, selling your home.

Not because of the process not going smoothly, but the thought of leaving old friends and familiar places.  The daunting task of packing your belongings, and the merry-go-round of things to do before you leave, cancelling mail, changing phones, enrolling children in new schools, and a hundred more important tasks that must attend to.

Let’s look at some of the houses that sold in the more affordable parts of our beautiful country.

Below TopNotch Agents NZ Ltd. New Zealand’s  Free Referral Agency for home sellers shows a few properties sold in November.

Richmond, Invercargill

This property went to Auction on the 26th of November and fetched $265,000.  It needed a do-up but had a large section and was close to amenities.   This property was sold at $60,000 above the Rating Value of 2017

Waikiki, Invercargill 

This property went to Auction in November 2019 and reached $485,000.  It is  a beautifully presented home, placed for the sun, with 3 b bedrooms and a double garage. This property sold for close to $100,000 above the Rating Value  of 2017

Glengarry, Invercargill

If you were looking for a home with space and quality, this was it. Boasting 4 bedrooms and 3 bathrooms, teenagers, grandparents, and owners could live side by side yet have their own privacy. This property went to Auction in November and fetched  $430,000 and was $100,000 above Rating Value of 2017

HoonHay Christchurch

This 3br  9yr old townhouse with good flow appeal, sold in November for $460,500  The rental income is $480 per week, so as an investment this was well worth a peak. Too late now, but watch for the next great deal.

The last rating valuation was in  2016 at $570,000

Horby, Christchurch

Sadly, this weatherboard bungalow  was a Mortgagee Auction and sold in November for $380,000    It has 3br. Sleepout ad double garage and is set on a large 892 sq m section. Rating value in August 2019   $390,000

St Kilda, Dunedin.

This beautiful elegant 3 br villa sold in November for $585,000 and had a rating valuation in July of this year of $510,000. Situated near the St Clair lifestyle, this home ticks all the boxes for those looking for Villa style living.

Maori Hill Dunedin.

This 4br 2-bathroom home sits on 716 sqm and has a floor space of 170 sq m. Delightful exterior presentation this home oozes love inside and out.  Rating Value in July this year was $570,000, and this property sold in November for $764,000.

Clyde Hill, Dunedin.

This rare find would tick every box you had for those seeking an investment with a side-line business to bring in extra cash.  The property has 2 homes on an 823 sqm site, one being a 2br that was used as an Air BnB plus another 3br home for the lucky owners.   The property sold in November for $597,000 and had a rating value in July of this year of $540,000.

Mackay Street, Thames

This compact 65 sqm home sold in October this year for $425,000  It had 2br, one bathroom and a single car garaging.   The property had a RV of $285,000 in July 2017

Caesar Roose Place, Huntly

Sitting on a site just over 600 sqm this 78swm home has 2br and 1 bathroom with garaging for one car. It sold this month for $280,000  and an RV in 2o17 of $255,000   Oh how we all wish we could turn back the clock, when in 2014 this property had an RV of just $85,000

Tumoana Street, Taumarunui

This property has a generous size section of a fraction over 800 sqm, and with a floor space of 90 sqm it is compact in size with 3 bedrooms and 1 bathroom.   It sold just over 2 months ago for $89,000 and if that is all your budget stretched to then this could have been home sweet home with an RV in July2017 of $95,000  Yes, this is one property that actually fell over the last 2 years by $6000 which goes to show not all properties rise in value at the same time.

Take, for instance a property in the King Country where, even though the Capital Value was $130,000 the property was sold for a mere $60,000.

Another property in Auckland’s North shore has a CV of $920,000 in 2017 yet in January sold for a price of less than half, $425,000

Some may ask what is CV. This is Capital Value and is based on all the other similar properties that have sold in the area.

LV is the value of the land the property is sitting on and Value of Improvements in the difference between the CV minus the Land Value.

It is important to always remind yourself that CV (Capital Value)  is only based on the up to the minute estimate of a property’s value.  If all the houses in the area are selling between say $380,000 and $420,000 your CV would be somewhere in that range, but if the market values drop to say $300,000 from  $370,000 for the same houses, your CV would also drop to be somewhere in the new range.

With drops like this, what is going to happen when so many people paid at the top end, the market falls and they are left with a property that has a mortgage debt exceeding what it is worth today.  How do you move on from there?

It’s all about being at the right place at the right time, for buying or selling property.

A Wirksworth property, situated around 40 minutes North from Auckland sold recently for over 3 million dollars when its valuation was just $760.000. Eventually, this 2 titled piece of land could be zoned for housing to add to Auckland’s urban sprawl.

Have a great Christmas and I hope all your dreams come true for 2020.

Hope you have enjoyed reading about other parts of our country and always remember to call us first when you are thinking of selling.  Not second, but FIRST and give yourself the chance to earn a cash reward when your property sells.

Website    www.topnotchagents.co.nz  Ph. 0800355 655