Property Market Report

All signs are for growth in the Auckland property market based on a number of changes being made by Central Government and signals given by the Reserve Bank.

Let’s break this down for you:

The median house price in Auckland is $1,050,000, however most suburbs have a volume of stock well under this figure.

Auckland’s house prices are estimated to be 8.9% below long term average value, caused by a price correction through 2022 and 2023. Over this period 22% fewer properties sold compared to the average and the average correction was down 18.1%.

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Importance of pre-settlement inspections for investments

Investing in a new build property can be an exciting venture for landlords, offering the allure of modern amenities and reduced maintenance. However, before finalizing the purchase of such an investment, conducting a pre-settlement inspection is crucial. At The Rent Shop Hobsonville, we understand the significance of this process in ensuring our investor clients make informed decisions and protect their interests.

A pre-settlement inspection is a thorough evaluation of the property conducted shortly before the settlement occurs. Our qualified builder from the Property Services division carries out this assessment and provides a detailed report with photos. This report can be forwarded by our client to the property developer. Additionally, it is shared with the client’s property manager, who can perform a follow-up check during the initial routine inspection after the tenants have moved in. Here’s why these inspections are crucial for investors buying new build properties for rental purposes:

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I don’t really need a Will, do I?

If you’ve ever wondered if you need a Will, then the real question you should ask yourself is do you want to have a say about how your Estate is distributed?  For example, do you want to leave your property, money, Kiwisaver or your vintage vinyl collection to a friend or loved one?  Who do you want to take charge of carrying out your wishes?  If you have young children (or beloved pets), who will look after them?

If you don’t have a Will, then distribution of your estate will occur according to the Administration Act 1969.  The first $155,000 of your Estate will be given to your partner.  What’s remaining will then be divided into three, with 33% going to your partner and 66% going to your children.  If you don’t have any children, 66% will go to your partner and 33% will go to your parents.

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Five must do’s, before you list your home for sale

Investing in certain key areas around your home before selling it can help increase its appeal to potential buyers and potentially fetch a higher selling price. Here are the five most important things to consider:

1. Curb Appeal: The first impression matters. Enhance your home’s curb appeal by investing in landscaping, exterior painting, and repairs. A well-maintained exterior can attract more buyers and create a positive initial impression.
2. Interior Updates: Focus on interior upgrades that can add value. Consider fresh paint in neutral colors, modernising fixtures and hardware, repairing any visible damage, and updating outdated appliances. Kitchens and bathrooms are often considered the most critical areas to renovate.

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