November Comment 2008

EVERYTHING’S CHANGED


The political scene is littered with debris from a very sad era.
George Bush is gone in a populist move and the demeanor of the people has dramatically altered.
But not more than at home, here, in New Zealand.
The self-serving power mad Helen Clark regime that prostituted itself against the country for 9 years has finally been ousted and a new window has opened.
Rather than dwell on why it has taken so long let’s look at the positive side.
An unexpected and unprecedented alignment of National with the Maori Party and Act has paved the future for a return to sensibility and some road towards a confident future.
The sentiment out there is palpable.
City Sales is running (year to date) at 89% of last year’s performance – deo gratias – which is very high compared to most realtors today and we now predict a very active New Year.
Our 50% market share in the sales of City apartments is going to rise because we are now committed to spending more on marketing.
The future is the brightest since we set up in 1997.
I’m good at picking market sentiment.
We’re at the bottom of the market and things are going to go.
Interest rates are plummeting and immigration will increase dramatically.
(Expats – come home! It’s OK now).
There will be almost no new houses built over the next five years and definitely no new apartments.
We are selling at under half replacement cost.
Tax is going down.
Hello???
Don’t tell your mates next year you read this in November 08 and …Gee Wizz…Martin was right…I could have bought at the bottom of the market.
Have confidence because New Zealand is headed where it always should have been going.
Go on.
Call us.
(And particularly look at The Railway Campus – Andrew Bond or Mark Jones – if there was ever a real deal this is it)
Oh, and it’s almost Christmas.
Cheers for now.

Martin Dunn AREINZ
MANAGING DIRECTOR