Nor'West News: January 28, 2021

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16 Thursday <strong>January</strong> <strong>28</strong> <strong>2021</strong><br />

Latest Canterbury news at starnews.co.nz<br />



Struggling to find something to buy?<br />

If you want an opportunity to knock, it’s time to<br />

build a door…<br />

I appreciate right now trying to buy property<br />

here in Christchurch is challenging. Stock<br />

levels are low (or in non agent terms, there<br />

aren’t enough houses on the market to meet<br />

buyer demand) and the number of other<br />

buyers looking is high. I have recently met<br />

many buyers at the end of their wits trying to<br />

buy a property.<br />

What advice can I offer?<br />

1. Review your criteria<br />

Would you consider other areas or property<br />

types than what you have been looking for.<br />

For example is a unit a more realistic option<br />

than a 3 bedroom home on a full section. You<br />

might need to start a step back from what<br />

you were hoping too.<br />

2. Have you consulted a mortgage broker?<br />

A broker will be able to give you more lending<br />

options than your bank and you might find<br />

you are able to borrow more (on this I never<br />

condone maxing out your finances just to buy<br />

a house, but an extra $30-50,000 could widen<br />

your buying options greatly).<br />

3. Keep Going<br />

I know it’s frustrating and you’ve been to<br />

that many open homes agents are starting to<br />

know you by name but I can’t see the market<br />

getting any easier anytime soon. Keep in<br />

mind that once your in your in. You might not<br />

end up buying exactly what you wanted but<br />

once you have secured your first property<br />

then your journey gets easier from there.<br />

Every house on the market has to be<br />

purchased by someone and the one for you<br />

is out there, you might miss out on a few first<br />

but learn what you can as you go and keep<br />

positive. Share your experiences too so other<br />

home buyers can learn along with you.<br />

Vanessa Golightly,<br />

Business Owner<br />

and Licensee Agent<br />

Ray White Papanui<br />

027 664 9292<br />

Vanessa Golightly<br />

Licensee Agent &<br />

Business Owner<br />

027 664 9292<br />

Claire Morris<br />

Licensee Agent &<br />

Business Owner<br />

027 662 4822<br />

Property Management Update – Welcome to <strong>2021</strong><br />

This year has sure kicked off with a hiss and<br />

a roar in the world of property management!<br />

Not only are we all preparing and studying<br />

hard to ensure we have a full understanding<br />

of the new Residential Tenancies<br />

Amendments Act 2020 which comes<br />

into effect on 11th February, but we are<br />

experiencing a very high demand for rentals.<br />

Since the passing of the amendments last<br />

year landlords and property managers alike<br />

have been wondering how these changes<br />

along with the impending Healthy Homes<br />

standards deadlines all so close together<br />

were going to impact our market, and<br />

unfortunately it does appear that it will, to<br />

some degree, be to the detriment of people<br />

needing rental properties.<br />

There are of course several factors<br />

contributing to a short supply and high<br />

Feature Properties<br />

demand. From landlords deciding it is all<br />

getting too hard for them, the increase in<br />

sales prices pushing them towards selling, or<br />

of course, the influx of returning Kiwis who<br />

need their previously rented out property<br />

back to move into.<br />

Prior to Christmas rental demand was<br />

fairly good across the board in Canterbury,<br />

however in the past two weeks we have seen<br />

huge numbers of enquiries. In our North<br />

Canterbury office, if we did not put a limit of<br />

maximum attendees at each open home for<br />

security reasons and in order to best manage<br />

the situation, our viewing numbers would be<br />

in excess of 50 groups at some properties.<br />

So how can we get over this hurdle for our<br />

tenants? The banks increasing investor’s<br />

LVRs (from 20% equity currently, to 40%<br />

at the end of March) is certainly not going<br />

to help, however I was recently speaking<br />

with some mortgage advisors, and the good<br />

news is that second tier lenders (lenders<br />

other than banks) are not governed by the<br />

same rules, and they are offering some very<br />

competitive interest rates. In my opinion<br />

rental properties are still a more than viable<br />

investment, particularly with interest rates<br />

at the bank being so low – so… tongue in<br />

cheek, I encourage you all to purchase rental<br />

properties so we can house some more<br />

awesome tenants!<br />

Katrina Green,<br />

Operations Manager<br />

Property Management<br />

027 606 0030<br />

Stuart Morris<br />

Licensee Agent<br />

& Auctioneer<br />

027 422 6395<br />

Tracy Thomson<br />

Licensee Salesperson<br />

027 440 3035<br />

Katrina Green<br />

Operations Manager<br />

Property Management<br />

027 606 0030<br />

Ben McNab<br />

Auctioneer & Licensee<br />

Salesperson<br />

Olivia Hendry<br />

Executive Assistant<br />

Estelle Schuurman<br />

Property Manager<br />

52 John Campbell Crescent<br />

Vanessa Golightly<br />

8 Proctor Street, Papanui<br />

Tracy Thomson<br />

9 Weruweru Street, Marshland<br />

Tracy Thomson<br />

Allie McConnell<br />

Property Management<br />

Assistant<br />

Joy Coughlan<br />

Mortgage Broker<br />

027 223 3572<br />

40 Jutland Street, North New Brighton<br />

Tracy Thomson<br />

50 Glenfield Crescent, Mairehau<br />

Vanessa Golightly<br />

19 Mooray Avenue, Bishopdale<br />

Vanessa Golightly<br />

Level 1, 7 Winston Avenue, Papanui<br />

Phone (03) 352 0567 | rwpapanui.co.nz | /RayWhitePapanui Morris & Co Limited | Licenced REAA 2008

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