March Comment 2007
WE ALL HATE AUCTIONS BUT....... Last night (Sunday) we tabled FOUR offers on a Statesman studio, selling it eventually for $166,000. As the Apartment Market heats up there are inherent dangers for both a Vendor and his Agency in underselling a property. So far our strict policy of alerting the Sales Manager, Rowena Tinone every time an offer is being prepared has worked – if...
February Comment 2007
16 YEARS LATER....... Maturing, coming of age, finally growing – yes they all apply to the writer but I allude to our Apartment Market. Steadfastly “telling it like it is” since the inception of Auckland 's CBD Apartment Market in 1991 we have often been unpopular but no critic could allege inconsistent. If the market was down we said it was down. If it was...
January Comment 2007
NEW YEAR FIRMING The city is hot and muggy and K'Rd smells but we're all back at work and eyeing those “Minimum Payment Due” lines on the Mastercards. Don't they have holidays? It seems only hours ago I was regailing all who would listen at the Christmas party as to how...
December Comment 2006
APARTMENTS DYNAMIC 2006 has seen the healthiest period of our Apartment Market since its inception in 1991. This, despite the unprecedented near 60% increase in numbers. And what has held it all together is the booming rental market which continues to absorb all the stock...
November 24 Comment 2006
SERIOUS MONEY TO BE MADE Due to the renewed volatility (Real Estate speak for uncertainty) in our Apartment Market we have relaxed our Company rule of not dealing with the cowboy brigade i.e. speculators. One of our greatest responsibilities is to sell at full "market...
November 6 Comment 2006
FINGERS CROSSED The student exodus is underway but the end of year vacancy rate is miraculously hovering around zero. Well 17. And that's virtually zero to our hardworking and increasingly nervous Rental Agents who are worrying about their Christmas shopping budgets. A rather...
October Comment 2006
WHERE IS ALL THE MONEY GOING???? Do you own a managed investment unit but receive ever diminishing returns? City Sales is working on 6 different buildings at present where owners are becoming very concerned at the levels of rent they are receiving. We sold in September two...
September Comment 2006
WATCH THE REMEDIALS With our City Apartment Market now 15 years old (apart from the eight “original” apartment buildings comprising 226 units that were all that were permitted in our CBD prior to 1991) there are a few traps out there for the young and restless. The New...
August Comment 2006
PORTENTS ARE LOOKING GOOD The residential Auckland market is defying doomsayers again and presenting as steady and still growing in value although not “heated” (at all). The Apartment market reflects a similar robustness. Look at the factors that influence the City...
July Comment 2006
RESERVE BANK MAKES A FOOL OF ITSELF “A Dafter Touch?” Were we too kind to Reserve Bank Governor Alan Bollard in our April 06 comment (scroll back) when we generously suggested he may have a defter touch with the markets than his predecessor Dr Brash? Bollard's bizarre...
June Comment 2006
SOME BRAVE PREDICTIONS A beautiful Winter's weekend at Pauanui (yes, hiding again from the Sales staff) gave time to ponder the state of our market, the economy, after that second gin,...
May Comment 2006
HERE WE GO AGAIN When I was little our leaders built a Harbour Bridge with two lanes each way and its architectural significance saw it immediately dubbed “The Coathanger”....