Style: July 10, 2020

Here we are in July and the world for
many of us continues to offer both
significant challenges and unexpected
opportunities. It’s relevant to note that
one of the biggest questions ( for myself
included) is: which of these challenges
or opportunities should I truly focus on
and which should I leave behind?
Can you envisage the future?
Are you like me and astounded at the
choices – and at the constant rhetoric about
the economy and our community – or are
you one for just moving forward anyway?
Remaining pragmatic and purposeful in a
sea of uncertainty. At an industry level, and
being collaborative by nature, I’m intuitively
choosing the latter: to work hard within the
current marketplace. And, to be fair, there’s
plenty to work with.
Here are some of the themes I’m noticing.
It’s busy out there.
Yes, it is. It may not stay that way, but at this
point in time there’s a massive push from
buyers to be settled and that demand is
creating some very strong results, especially
in the auction rooms. Three properties that
went to auction at Harcourts gold over a
recent ten-day period stand out:
3 Ashdale Lane – 6 bidders and sold for
$1,505,000
506 Ilam Road – 2 bidders, “on the market”
(selling) at $1,050,000 and additional
bidding saw it sell for $1,143,000
7 Wherstead Road – 3 bidders, “on the
market” (selling) at $340,000 and sold for
$460,000
The position of property owners in all of
this is interesting. At a time when many are
choosing to wait-out the post-COVID-19-
lockdown world, the shortage of properties
available for sale (usually referred to in our
industry as ‘stock’, a term I use for soup
rather than property!) means those actually
on the market are getting excellent prices
based on scarcity. Markets universally work
this way and to those securing the benefits
of that, well done.
overseas working adventures – is now
determined to make the most of carefully
accumulated savings. Purchasing property
is high on the list, in fact, it’s at the top and
this is fuelling interest in both new homes in
outlying locations and character properties
in well-regarded areas (think good schools
close by). This is proving a positive in so
many ways: earlier access to the property
ladder for buyers and large open home
attendance numbers for sellers.
"I’ve got to get some investments."
Yes, at the other end of the property
spectrum are those that are wondering
and, in some cases, worrying about their
retirement futures and therefore looking to
supplement their KiwiSaver with additional
rental income.
Buoyed by enticing lending rates and
disappointed with the corresponding
extremely low interest rates for savings,
these are active, educated and cautious
purchasers. If you are a member of this group,
work with a consultant who understands
your requirements, appetite for risk and
timeframes. Better still, work with someone
who actually has investment property (for
obvious reasons).
Now, the last of the trends and perhaps the
most important.
Expectation
Many of us have come out of lockdown with a
new set of values and thoughts. I’m noticing
that people are genuinely trying to be kinder
and more connected. Coupled with this is a
requirement for more: more service; more
value; and not just occasionally but every
time. It’s a time for being customer/clientobsessed
– and adaptive.
So, are you up to it? Are these the challenges
and changes you’ve been noticing?
Remember, it’s all part of a bigger set of
opportunities that everyone and every
industry can take part in. I’m definitely up for
it and here’s a good luck wish if you are too!
Stay warm this winter.
"I’m not travelling, so I’m definitely
buying."
That’s right, a whole new demographic –
mostly would-be first-home buyers who
had planned to travel or to take up lengthy
Lynette McFadden
Harcourts gold Business Owner
PAPANUI 352 6166 | INTERNATIONAL DIVISION (+64) 3 662 9811 | REDWOOD 352 0352
PARKLANDS & NEW BRIGHTON 383 0406 | GOLD PROPERTY MANAGEMENT 352 6454
GOLD REAL ESTATE GROUP LTD LICENSED AGENT REAA 2008 A MEMBER OF THE HARCOURTS GROUP
www.homes4sale.co.nz