Nor'West News: August 12, 2021

NOR’WEST NEWS Latest Canterbury news at starnews.co.nz
Thursday August 12 2021 5
REAL ESTATE
339 Withells Road, Avonhead 3 2 2 1 2 2 www.harcourtsgold.co.nz | Listing #RD8454
Family Living, Architectural
Design - 80's Style!
This beautifully presented and eclectic home is
looking for new owners! This home boasts the
strong architecture that stood out in the homes
of the 80's era - creating its own 'fabulousness'
through design and space, including features
such as raised ceilings, exposed beams and built
for family living at its best.
Downstairs the living and bedrooms all open to
north facing, multi outdoor living spaces. You can
decide which of the two master suites, suits your
lifestyle. Perhaps it's the first which has its own
built in wardrobing and en-suite bathroom (with
its own fernery access), or the second which
has its own walk-in robe and access to the main
family bathroom. Additionally, upstairs is a further
double bedroom. While currently configured as
3 bedrooms, this home could be reconfigured to
4 bedrooms by adding a wall to recreate the 4th
bedroom space, (as it was previously).
Living areas offer the luxury of plenty of space for
family living and entertaining. The main family
living offers a modern open plan kitchen, dining
and living space with doors to the paved and
manicured garden space. The home features
a second comfortable and stylish living space
with multi living options, including "the library".
Bathrooms have been upgraded and are
beautifully appointed.
Located in Merrin School and Burnside High
Schools, this home will suit a multitude of
purchasers. It's within walking distance to
Avonhead Mall, has good public transport
access and is super close to Burnside Park for that
Saturday morning sport!
Auction
Thursday 19th August 2021
from 10:00am (unless sold prior)
Gold Auction Rooms, 471 Papanui Road
Viewings
Saturday & Sunday 2:15pm - 3:00pm
Christeen Flynn
Licensed Sales Consultant REAA 2008
Harcourts Redwood
021 253 6970
03 352 0352 or 03 352 8400
christeen.flynn@harcourts.co.nz
by Lynette
McFadden
I’ve had to be many things in the course of a
very long career. From sales consultant to
business owner; a manager and a mentor.
I’ve been a confidant, a real estate historian
and a trendsetter, but now the requirement
to be a magician and a mind reader – as well
as a futurist – reflects an even greater level of
expectation from the public.
This market is beyond statistical analysis.
How can you possibly rationalize the sale of a
local property for $740,000 more than it sold for
one year earlier?
Or the sale that was brought forward for a
brand-new property (meaning the owners
accepted a pre-auction unconditional offer
at a level they would happily sell for) on an
offer of $1,040,000 – only for it to then travel
an additional $225,000 in the auction room,
ultimately selling at $1,265,000.
Finally, another property that was listed on
behalf of, their term, 'career private sellers'.
Having decided to sell their property on
Trade Me for what they thought was a hefty
figure of $725,000, they engaged a real
estate team and sold at auction for $865,000
instead.
Rather than overwhelm you with a longer list
of incredible results, let’s pause and consider the
origins of these unusual times.
We’ll start with recent statistics including May
where prices nationally were on average 30%
higher than the same time last year. 30% is an
enormous difference and obviously represents
a windfall to those selling and the need for a
strategic rethink by those purchasing. June looks
to be equally strong although vital elements
such as average days on the market (27) and
number of sales (663) in Christchurch both
show evidence of a lack of available properties.
Low interest rates coupled with low bank
deposit rates also creates an ideal formula for
property purchase, although the prospect of
these rates increasing is just starting to get some
traction. I’ll be interested to see if recent reports
of increases next year will play out. But these
aren’t the only reasons for our current market
frenzy.
Let’s look at some additional elements:
1. Listing numbers have contracted, creating
a 'buy now' scramble amid a fear of not being
able to get on the property ladder if you wait.
FOMO is real. Ask any of the multiple groups
attending open homes, auctions and new build
seminars. A tip for anyone waiting for spring
to list their home: consider moving earlier on
your intentions if you want the chance of an
exceptional price. Beat the crowds, in other
words.
2. Tony Alexander has highlighted the prospect
of potentially one million expats wanting to
return having the effect of increasing local Kiwi’s
desire to buy now before the market changes
to accommodate this influx. And think of the
word ‘changes’ as meaning ‘goes up’. Though a
recent adjustment to this theory is the pull of
a stronger labour market and higher wages in
Australia, meaning we may also lose people to
migration.
3. Money usually diverted into travel is now
finding its way into property investment and
renovation. This is the category that I personally
fall into at the moment.
Now I’m going to quote Tony Alexander one
more time: “before the 1990s household debt
in New Zealand was less than 60%, today the
ratio is near 165%.” It goes without saying that
this could be a very vulnerable place for some.
What’s the answer? As I said, I’m not a clairvoyant,
I’m just one party in this incredible place we all
refer to as The Market. But here’s some simple
advice: think carefully, get counsel from skilled
experts not uninformed mates, and if you think
you could find yourself in a tight spot through
overcommitting, then rethink and adjust your
wish list.
In the meantime, stay warm and here’s to
happiness.
Lynette McFadden
Harcourts gold Business Owner
027 432 0447
lynette.mcfadden@harcourtsgold.co.nz
Join the best!
Are you curious about a
career in real estate?
Career for
Success Seminar
24th August
6:00pm
RSVP
by 20th August
Angela 03 352 6166
angela.boyle@harcourtsgold.co.nz
or online
www.harcourtsgold.co.nz
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.harcourtsgold.co.nz