Nor'West News: March 14, 2024

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4 Thursday March 14 2024 REAL ESTATE 59 Waterstock Way, Waitikiri 3 2 1 1 2 2 2 www.harcourtsgold.co.nz | Listing #PI84456 Simply Irresistible! 59 Waterstock Way has been built with wonderful contemporary architecture, high spec chattels and exceptional garaging for a caravan or boat. This is a quality home you will love to both entertain and relax in. The window shutters give you the feeling you are in a resort somewhere tropical and the feature wooden floors are stunning and warm. The location is superb with the golf course so close, the forest and beach also a short distance away. Comprising of approximately 210m2 and set on an easy care landscaped 567m2 section, it is amongst other contemporary quality homes. The garaging is superb and consist of 2 internal garages, one is higher to fit a caravan or boat. This home is large enough for families yet compact enough for lock up and go. Do not delay to view, contact me today to view. Auction Thursday 21st March 2024 from 10:00am (unless sold prior) Gold Auction Rooms, 471 Papanui Road Open Homes Sunday: 3:15pm - 4:00pm Jacq Lawler Licensed Sales Consultant REAA 2008 Harcourts Papanui 027 507 3606 jacq.lawler@harcourts.co.nz Mixed Messages in the Current Market Whether it’s the newspaper, the television or online commentary, there’s currently plenty of optimism around the property market and – to be fair – it’s contagious. But the real question we need to ask ourselves is whether it’s true. Let’s face it, after the rollercoaster of the past four years, including the highest price increases ever seen post-Covid and a harsh correction in 2023, who doesn’t want to celebrate just a little? But I’m of a mind we need to take a pause and reflect. So, why don’t we dive in together, look at what’s happening locally and then decide what’s fact, fiction or even conjecture? Because it’s all there! Here’s what I’m currently seeing … Let’s start with listing numbers, which are up. As are auction numbers. Our own company currently has some 74 auctions booked for the month ahead at the time of writing and this is creating significant buyer interest. Although the number of auctions reflects a strong push by people to be on the market in February, it’s by no means unusual. Who doesn’t dream at Christmas and through the New Year of changing direction, whether that means purchasing instead of renting, upsizing, downsizing or leaving the city? So, I’m not one for jumping to conclusions based on the current increase in available properties. It’s definitely seasonal and this summer momentum can often be seen ebbing in the autumn months of April and May. But here’s something not so customary of late: being pleasantly surprised by the number of those auctions brought forward (a term used when the owners receive an unconditional offer that brings everything forward from the scheduled auction date). It’s a sign that people don’t want to wait because they fear competition – and that happens when there are more buyers around. Only this week, out of a catalogue of 19 properties, we had four that were brought forward, and all had additional strong, competitive bidding. Tears, smiles and applause from those in the busy room followed. Attendances at open homes are also up, as are multiple offers, so these three elements are certainly supportive of a strengthening market which owners, realtors and the media are taking heart from. Now let’s look at what I’m currently hearing. Most of us have short memories and it’s easy to slide into a belief pattern that all is well and prices will jump back to those extraordinary figures we came to expect two years ago. For context, prices across New Zealand peaked in November 2021, then were seen to drop by almost 18% to bottom-out in May of last year. Since then, they have increased by 4% according to statistical data up until December of last year. So, it’s a cautious journey and although banks and others are sticking with low growth figures, there’s still room for optimism – though it needs to be mixed with realism too. Finally, what am I thinking? There is still a world of pain out there for many people. Increased interest rates are hurting and that’s across every demographic. Banks are proving extremely pedantic in what they expect of their clients. It means that some people are finding it too tough to hang on. Despite the promise of Brightline and tax deductibility changes, that includes recent landlords. And other vendors are preferring to downsize rather than struggle with hefty monthly mortgage payments. There’s also a belief that we are likely at the bottom of the market and good times are around the corner, in which case now is the time to buy. For the entrepreneurial amongst us, this is a signal to hunt hard for opportunities. It’s always a crystal-ball game and mine is a little cloudy at the moment, so I’d encourage anyone making a property decision to get good advice, keep your expectations intact and, if you’re selling, hope that you just might have a property that causes people to applaud your result. After all, this market might be exactly right for your circumstances and yours might be one of the good news stories that we’re starting to see. Lynette McFadden Harcourts gold Business Owner 027 432 0447 lynette.mcfadden@harcourtsgold.co.nz PAPANUI 352 6166 | INTERNATIONAL DIVISION (+64) 3 662 9811 | REDWOOD 352 0352 | PARKLANDS 383 0406 | SPITFIRE SQUARE 662 9222 | STROWAN 351 0585 | GOLD PROPERTY MANAGEMENT 352 6454 | SPITFIRE SQUARE PROPERTY MANAGEMENT 027 772 1188 GOLD REAL ESTATE GROUP LTD LICENSED AGENT REAA 2008 A MEMBER OF THE HARCOURTS GROUP www.harcourtsgold.co.nz
Thursday March 14 2024 5 Investigation work questioned in face of possible funding cut • From page 1 Henstock said the budgets in the LTP are based on the original costings, which are now out of date. “Those figures are misleading. We have been told that on average our transport projects have increased by about 27 per cent so we can reasonably expect the W2W project costs to increase substantially.” She said many people were confused about the project’s status, with media reporting earlier in the Long Term Plan process that council staff had proposed the cycleway be deferred, due to it not being a priority project. “The public generally were not aware the project was back in the LTP. “Now they see a CCC Newsline article and social media post about investigative works soon to be undertaken. Residents are now asking how can this project continue if funding is not available.’’ Canterbury Charity Hospital chief executive Carl Shaw said the hospital board was not looking forward to seeing the project continue. City council city infrastructure general manager Jane Parfitt said it is common practice that detailed investigations are commissioned in advance of construction, which will not start until later this year. PLANNING: Investigations into potential construction plans for the Wheels to Wings cycleway have started. The investigation will also look into water system upgrades on Harewood Rd and traffic light installation at the Greers and Langdons intersection. When Copenhagen Bakery owner Donna Thomsen was approached for a comment by Norwest News, it was the first time she had heard about the investigations going ahead and she said she couldn’t comment further without having all the facts. NZ rep dream closer for athletes • From page 1 “They will get the advantage for selection, so it really just comes down to one race.” The pair represent Selwyn at club meets and are coached by former New Zealand Commonwealth Games representative Angie Petty and her partner, Briton Sam Petty. Angie Petty said it would be ‘insane’ if the pair were to qualify together. “Of those runners (that have made the qualifying time), Daniel is second-fastest and Cooper is fourth,” she said. “But Cooper ran his in a local event while all the rest were in big meets like (the Sir Graham Douglas International in Auckland last weekend). “It’s easier to run faster in those big meets with other runners around you and I know Cooper’s got more in him.” Wightman said the prospect was exciting. “It’s just down to one simple race, who comes out better on that day. “I quite like that instead of having points and stuff where you have to worry about all the races you’re running.” SILVERSTREAM SUBDIVISION New Stage Released! 429m² 202 202 421m² 201 201 429m² 200 200 450m² 199 199 198 N/A 1112m² 203 414m² 408m² 210 455m² 207 254 m² 367m² 255 253 417m² 252 256 257 258 Stage 9a ON HOLD 406m² 337m² 359m² 1 370m² 259 370m² 204 409m² SOLD UNDER CONTRACT 266 359m² 265 205 359m² 205 420m² 425m² 425m² 264 206 206 350m² 207 207 350m² 208 208 359m² 428m² 263 209 197 404m² 273 05m² 196 392m² 195 195 392m² 194 504m² 193 420m² 192 420m² 191 420m² 03 323 6991 | enquiries@limedl.co.nz www.silverstreamestate.co.nz
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Nor'West News: March 14, 2024

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