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Weekly Report

By on February 24, 2019

It’s been a week of frantic activity here at Ray White, with three homes selling under the hammer last Friday. This left five homes to be priced and by Sunday night we had a further four conditional offers through post auction. Four are now sold and the remainder are priced (see new prices below).

I have been delving in to a few stats this week, as inevitably when I am hosting open homes, buyers want a steer on what a property is worth or what it could possibly sell for.

To give a useful guide, I have utilised Ray White Wanaka sales from June 2018… the numbers show –

  • Sale Price above GV reached its highest point in Sep 2018.
  • Three month average sale prices have been tracking down since Sep-18 (24.87% above GV down to 16.72% above GV).
  • Average sale price above GV from June 2018 until now is 19.42% above GV.
  • It is important to note that the new GV’s were set in June/July 2017 – at that stage they were pretty close to matching the market.

It has been interesting to watch and read the differing opinions on the proposed Capital Gains Tax this week. With the Tax Working Group themselves not in unanimous agreement, I have my doubts on how much will actually be adopted. We will watch this closely and see if it has any impact on our sales data. I will give a another update in May on how sales numbers are tracking versus GV values.

This week we viewed six new properties coming onto the market, as follows:

  • 136 Hunter Crescent is a five bedroom home situated just off Beacon Point Road. It is immaculately presented so if you wanted to secure a great location with a large family home please get in touch.
  • 83 Infinity Drive is a new four bedroom family home bordering on the reserve, a super quiet spot with the lake a very short walk away.
  • 21 Ragan Lane is a new listing of mine (featured image). This is a perfect introduction into the Wanaka real estate market or an ideal holiday rental. Expansion and improvements can be achieved as well to add further value, this launches next Tuesday, first open home on Thursday.
  • Lot 13 Alpine Estate is a large section with a great northern outlook and very close to the new amenities at Three Parks.
  • 20 Sapphire Spring Rise is a great elevated section in Meadowstone. This section should still hold some lake views – I really like the wide section orientation, offers wanted.
  • 16 Hyland Street is a well built (Oamaru stone) four bedroom home in Meadowstone. Private and everything you need with this one.

If any of these properties appeal please get in touch for further information.

On a personal note, I received some great news this week which I’m really proud of. As of the first seven months of Ray White’s financial year to date, I am tracking in the top 8% of all Ray White Agents in NZ. It’s nice to see the fruits of some late nights and hard work!

Hopefully the intel and help that I am providing you is of use. Look out next week as I interview David Owens, a very well regarded local builder here in town.

Have a great weekend,

Mitch

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MITCH CAMPBELL

mitch campbell

Welcome to my property hub, a place designed to showcase the very best of premium property in Central Otago and provide you with everything you need to ensure that your journey of buying or selling in this beautiful region is as smooth as possible.

I wanted to create a platform to share insights and knowledge on everything property-based from the Wanaka region, but also feature outstanding design products, interviews with industry locals, interesting architectural work and new trends to help inspire you with your own plans.

If you're looking at either buying or selling in the Wanaka region, please get in touch and let me help you achieve those goals.

Email mitch.campbell@raywhite.com
Phone number: 021 2424 280