February Comment 2009

CHICKEN LICKEN


Ring a Ring a Rosie, a pocket full of posies, Atishoo! Atishoo, we all fall down.
Yes, I know, something about the Great Plague in London but to me it was just the chance to hold two girl’s hands at once as we danced around in circles and fell all over each other.

Humpty Dumpty sat on a wall…..no, I never got this one but I was good at it.

Chicken Licken …(if you’re under 50, google it) like my road to Damascus but actually carrying a chilly bin onto Tarwharanui Beach on Saturday I actually got it!
The sky is NOT falling in, I don’t need to tell the King, if I get my mates all agitated Foxy Loxy will eat us up and he’ll be the only one to benefit from that slight blow on the head.

(if you think Martin’s completely lost it now, don’t worry, he has).

But it did ring true, the hysteria in the media and the reality out there.

Last Wednesday we ran our first auctions of the year. Attendance at OPENS had been unprecedented and a lot of new faces appeared on the big day.
We really had no idea as to what was going to happen although – as opposed to our policy – the week before we had such strong interest in two of the auction apartments we sold them prior. This gave me a quiet confidence as the auction room filled up and I only needed one silk hanky to mop the sweat as we waited.
Then bang! 7 out of the 9 left sold quickly under the hammer with strong bidding and healthy prices and the two we didn’t sell “made” the market but more complicated circumstances prevailed and our Vendors just couldn’t say yes.

We listed 40 apartments for sale in the two weeks of January that we were back and sales were ahead of budget.
By 9th Feb we have sold 14 suites and things are getting busy.
It’s a good omen for a worrying time.
And it turned out to be only an acorn.

Have confidence in the fundamentals and call us.



Martin Dunn AREINZ
MANAGING DIRECTOR