Finding the ideal location is one of the secrets of smart buying – you can renovate your property, landscape the garden and even install a swimming pool, but there’s little you can do about your suburb. Factoring in your lifestyle needs is essential whether you’re buying your first property or dream home. While your budget…
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Property buyers are in an increasingly strong position, with vendors reacting to the cooling market by lowering their asking prices. Between January, when the market peaked, and September, the national average asking price fell 7.2%, from $992,659 to $921,187, according to realestate.co.nz. That shows a willingness by vendors to lower their expectations if they want…
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Property rents are continuing to steadily climb, although more slowly than the general rate of inflation. Rents increased 4.1% in the year to September 2022, compared to 3.2% in the year to September 2021, according to Stats NZ. By contrast, inflation rose 7.2% in the year to September, which means rental rates are rising more…
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First home buyer market share has reached its highest level in recorded history, according to the most recent data from the Reserve Bank of New Zealand. First home buyers were responsible for 20.8% of the $5.4 billion in new residential mortgage lending activity that occurred in August. That is their biggest market share since the…
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Residential construction costs are accelerating at a record pace, according to the latest CoreLogic Cordell Construction Cost Index. Home building costs rose 3.4% in the September quarter and 9.6% in the year to September – both records. The Cordell index reflects the rate of change in the cost to build a 200sqm three-bedroom, two-bathroom, single-storey,…
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I don’t want to creep you out as we prepare for Halloween, but you could buy a haunted house and not have a ghost of a chance of knowing. No law in any state says an agent or the owner must explain if or why things go bump in the night or if the undead…
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Forget hardwood floors, walk-in pantries, and eco-ratings. With everyone’s favorite holiday now upon us, these must-have design features this month will haunt you forever. Below is a look at the spooky design ideas that are hellishly hot right now. Wet-look walls Whether it’s wallpaper that spontaneously oozes slime or – for the more ambitious –…
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If you’re preparing to sell your home in the next few months, you may find that making your move this winter rather than waiting for a spring campaign will deliver a better result. The theories and myths of real estate suggest spring is the best time of year to sell your home. But actually, there’s…
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The first frost on the ground will be a timely reminder that you may have a few jobs to do around the home before the cold weather sets in. Winterizing your home will not only make it more comfortable but it should save a small fortune on utility bills that seem to rise with every…
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As the American economy changes down gears in an effort to quell post-pandemic inflation, it’s easy to over-read the impact on real estate. Like many sectors of economy, the pendulum of power continually swings between seller and buyer. In property, as Americans face higher mortgage costs, the momentum is coming back towards the buyer after…
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