Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Auction Targets Holiday Property Owners

Buyers at a forthcoming auction of Queen Charlotte Sounds properties could be spending their first summer in their new holiday homes with the timing of an auction planned to allow paper work to be done and dusted before Christmas.

Eight properties in the Queen Charlotte Sounds area will go under the hammer at Bayleys Marlborough’s special auction day on Sunday, November 22 - with marketing agent and auctioneer, Glenn Dick, saying all vendors are genuinely realistic about the changing market and the effect this had had on their property values.

“The properties range from one of the cheapest sections available in the Sounds today, through to good family baches and a couple of apartments in Picton – gateway to the Sounds,” says Mr Dick.

Sections in Spenser Bay and Double Cove, along with baches in Driftwood Bay, Blackwood Bay, Onahau Bay and Burneys Beach (all with shared jetties), will line up with two apartments in the newly-redeveloped Oxleys Hotel complex. One section on Snake Point has already sold prior to auction day.

Labour Weekend officially marked the start of the summer season for the Sounds, and with Marlborough and Canterbury Anniversary weekends in November ahead of the countdown to Christmas, Mr Dick says a small window of opportunity opened to bring a selection of properties to the market to allow buyers to see what their dollar can buy.

“We’ve come through a long winter and a recessionary period and now it’s time to find out where the market level is for properties in the Sounds. It’s been pretty hard to know just where values sit when the economy has been something of a moving target,” says Mr Dick.

“By getting a room full of potential buyers, and putting up properties across the price spectrum, our vendors will get a good idea of where the market is. And, buyers who have maybe dismissed the idea of buying a holiday property in recent years may – in light of the confidence that seems to be returning to the market – be enticed back into looking again.”

In the last nine months, REINZ statistics show that 24 properties in total sold in the Marlborough Sounds and, of these, eight were in Queen Charlotte Sound. Bayleys Marlborough concluded six of these eight sales - giving them a 75 percent share of the market with nine main real estate companies competing for the business.

In January this year, Mr Dick took an original Onahau Bay villa – which had been in the same family for 150 years – through a high-profile auction campaign and sold it under the hammer for $1.9 million to a Wairarapa family who, in time, intend to restore the property.

As with that property, the Sounds properties up for auction next month are only accessible by boat, but are within 10-30 minutes boat ride from the Picton or Waikawa Bay marinas where there is good parking. Mr Dick says this is seen as a plus rather than a negative for those he has sold Sounds properties to.

“People like the escapism factor of the Sounds. It’s a break from the realities of life and the fact that you can only get to the property by sea, adds to that. For those that don’t have their own boat, there are five water taxi companies offering both scheduled and charter services, so transport is not a problem,” says Mr Dick.

City slickers who can’t quite abandon all of their urban lifestyle rituals will be glad to know that the Queen Charlotte Sounds boasts several quality resorts and lodges for upmarket dining and an espresso fix, while those looking to get back to basics will revel in the adventure eco-tourism opportunities that the Sounds sports.

Permanent residents in the Queen Charlotte Sounds can organise for lawns and gardens to be tended for absentee owners, there’s a mail boat delivery twice a week, and a burgeoning holiday rental market for those wishing to see some return on their property investment.

“This area really is a playground,” says Mr Dick. “I have sold many Sounds properties to overseas buyers who just can’t believe the lifestyle that the area offers and then there are the Kiwis who have holidayed here for years and now realise that owning their own property in the Sounds is achievable.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


RNZ: Porirua Most Expensive Region To Rent, According To Trade Me

A rental website shows this town is now New Zealand's most expensive region to rent a house, ahead of Wellington and Auckland cities. More>>


Stats NZ: Nearly 1,000 More Big Businesses Now Than Two Decades Ago – Media Release

There are now 2,690 big businesses in New Zealand employing more than 100 staff – nearly 1,000 or 58 percent more than 20 years ago, Stats NZ said today. Over the 20 years to February 2020, the total number of enterprises in New Zealand increased ... More>>


RNZ: Housing Boom Could Get Worse, Economist Warns

Economists are calling on the Reserve Bank to reinstate lending restrictions, warning the housing market is spiralling out of control. More>>


Westpac: Sets Out Plan To Go Cheque-Free

Westpac NZ has announced details of its plan to phase out cheques, after signalling in May that it would be supporting a move to other forms of payment. Cheques will cease to be available as a means of payment after 25 June 2021. Westpac NZ General ... More>>


NZTA: Major New Zealand Upgrade Programme Projects Go To Tender

Two major New Zealand Upgrade Programme projects are beginning tenders for construction. The New Zealand Upgrade Programme is a $6.8 billion investment to get our cities moving, to save lives and boost productivity in growth areas. The first Auckland ... More>>

Reserve Bank: RBNZ Seeks To Preserve Benefits Of Cash

The Reserve Bank – Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference ... More>>


CERT NZ: Malicious Computer Virus Targeting New Zealanders

CERT NZ, the government agency which supports organisations and individuals affected by cyber security incidents, says a recent surge of increasingly sophisticated malware attacks is affecting everyday New Zealanders as well as large organisations. The ... More>>


Economy: NZ Small Business Recovery Continues In September

Xero, the global small business platform, today released its Small Business Insights (XSBI) for September revealing an uptick in small business jobs and year-on-year revenue growth in New Zealand. Nationwide, the average number of jobs in the small ... More>>


Courts: Businessman Eric Watson Sentenced To A Four-Month Jail Term

New Zealand businessman Eric Watson has been sentenced to a four-month jail term in the UK for contempt of court, TVNZ reports. More>>

OECD: Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020

The OECD area employment rate – the share of the working-age population with jobs – fell by 4.0 percentage points, to 64.6%, in the second quarter of 2020, its lowest level since the fourth quarter of 2010. Across the OECD area, 560 million persons ... More>>

Spark: Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities

Spark turned on 5G in downtown Auckland today and has partnered with Auckland Transport (AT) to showcase some of the latest in IoT (Internet of Things) technology and demonstrate what the future could look like for Auckland’s CBD with the power of 5G. 5G is ... More>>

Stats NZ: Monthly Migration Remains Low

Since the border closed in late-March 2020, net migration has averaged about 300 a month, Stats NZ said today. In the five months from April to August 2020, overall net migration was provisionally estimated at 1,700. This was made up of a net gain ... More>>