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


Big weekend predicted for real estate under Level 2

“Listings are going live and open homes will be busy this weekend,” says Tim Kearins, Owner of Century 21 New Zealand

“Our offices south of the Bombay Hills are seeing quite a lot of pent-up demand as the rubber hits the road again. Listings are going live and open homes will be busy this weekend,” says Tim Kearins, Owner of Century 21 New Zealand.

His comments follow most of the country going into Alert Level 2. The Auckland region remains in Level 4, with Aucklanders’ hopeful of at least Level 3 next week.

Mr Kearins says under Level 2 open homes, private viewings, and auctions can occur but must meet all public health requirements including limits on the number of people that can attend. Open homes and indoor auctions are limited to 50 people and outdoor auctions are limited to 100.

The Real Estate Authority advises that this time round under Level 2 all properties must have a NZ COVID Tracer app QR code throughout the sales process. Mask wearing is also required for anyone aged 12 years and over when entering any property.

The Century 21 leader says REINZ’s soon to be released Monthly Property Report for August will make interesting reading given the whole country was in total lockdown for the second half of August. Nonetheless, the previous report for July showed the real estate market incredibly strong for the middle of winter.

“Let’s not forget that July saw median house prices across New Zealand increase by 25.2% to a record $826,000 in 12 months. The jets were starting to cool in some areas but given the record low number of listings nationwide, demand and prices will remain high this spring,” he says.

Century 21’s Auckland agencies and agents are looking forward to safely turning Level 4 enquiries into some measured action. Under Level 4 they continue to field enquiries about listings and have been giving virtual appraisals via video calls.

“When it arrives, Level 3 will make a big difference for Auckland. Although it will take an appointment, with strict protocols in place, Auckland buyers will at least be able to view properties in person,” he says.

Lower alert levels, he says, make buyers more comfortable, and confident, to make decisions which will see more transactions inked.

“Auckland’s real estate sector has operated very safely and effectively in Level 3 before and is looking forward to doing so again. Then hopefully it’s not long before Auckland jumps down to Level 2,” he says.

Century 21’s website and listings enjoyed solid traffic during the nationwide lockdown. Further, Mr Kearins says the past few weeks have reinforced the importance of quality online marketing given prospective buyers have been largely house bound.

“With the number of competing listings at an all-time low, interest rates at rock bottom, and prices still very strong, this spring looks set to be hot. With these dynamics, I wouldn’t be waiting until summer to sell. I’d be listing now,” says Tim Kearins.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Government: RSI ‘State Of The Nation’ Report Published
latest research, science and innovation system report card is now available, and outlines how the system is performing, Research, Science and Innovation Minister Megan Woods has announced. “The report seeks to increase transparency, act as a reliable data source and stimulate discussion... More>>

Fonterra: Increases 2021/22 Forecast Farmgate Milk Price

Fonterra Co-operative Group Limited today increased and narrowed its forecast Farmgate Milk Price range to NZD $7.90 - $8.90 per kgMS, from NZD $7.25 - $8.75 per kgMS. The midpoint of the range, which farmers are paid off, has increased to NZD $8.40 per kgMS, from NZD $8.00 per kgMS... More>>

Stats: Auckland’s Population Falls For The First Time
In the wake of the COVID-19 pandemic, New Zealand’s population growth slowed down with Auckland recording a population decline for the first time ever, Stats NZ said today. “New Zealand saw slowing population growth in all regions... More>>

Pamu & Westpac: Market-leading Sustainability-Linked Loan

Westpac NZ and Pāmu have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise. Pāmu, also known as Landcorp, is New Zealand’s biggest farming business. It will borrow $85m from Westpac NZ over three years... More>>

Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>