November saw a strong month of sales for our City Apartments team as investor and first home buyer interest continued to surge.

High net yields continue to be a big draw card with some investors picking up apartments returning over 10 per cent net, providing a significant cash flow alternative over banks. 

Increased confidence in the rental market has seen a lift in new tenant demand, starting a decline in the number of vacant apartments available, which is encouraging. 

Our latest rental statistics also show stability in rents with our average rent sitting on par when compared to the same time last year – altogether creating an almost-perfect storm for investors.

Sales remain strong across the board, and while priced properties are attracting multi offers and good competition, our auction room continues to thrive with our year-to-date success rate sitting at an impressive 81 per cent. 

We’re anticipating plenty of opportunity in the apartment market in the lead up to Christmas with over 50 auctions being booked in for December. 

There’s no doubt this Christmas and New Year period will buck the trend from previous years with the rental market remaining buoyant and with good quality, high yielding listings coming to the market.

Our City Apartment’s team are working right throughout the break, so if you’re curious to discuss what our vibrant and affordable market has to offer, give us a call. 

What are you waiting for?

With so many buyers in the market, should I still invest in a marketing campaign?  – Ray White Now 29th Edition

Short answer is yes, Ray White is a marketing machine at its very essence. We don’t build houses, we market them. 

It’s true that we are seeing more buyers active in the marketplace. This is reflected in our online traffic, our online enquiries, our bidder registrations, and the number of  pre-approvals we are seeing. The major portals like oneroof.co.nz, realestate.co.nz and trademe.co.nz/property are also seeing a significant increase in their buyer traffic. 

So, with all these buyers looking to purchase property, shouldn’t it be easier to find these buyers and sell a property without having to invest in a substantial marketing campaign?

While this may seem like a logical approach, almost all our seller clients have an ambition to achieve not just any price but a premium price for their property when it sells. And so they should. Any real estate agent can sell a property for a price, however, to ensure that the premium price is achieved for your property we must exhaust every avenue to find the buyer who will pay more than any other buyer in the marketplace. From experience, there is a considerable difference between what the premium buyer will pay and what the next best buyer will pay for any property. In some cases, the difference can amount up to hundreds of thousands of dollars.

Ray white is the most innovative auction business in New Zealand.

Our enviable position comes from an unwavering commitment to marketing and auctions – whether that be safely on-site or in-room.

Ray White New Zealand currently has 2,537 live listings, up 36.6 per cent on last year, with the number of sales up a whopping 20.62 per cent year-on-year.

In April, May and July 2020, Ray White was the highest listing months of property across New Zealand. In June 2020, Ray White passed through 20 per cent market share in New Zealand residential sales.

In November 2020, the Ray White Group achieved record sales volumes in market turnover and record sales volumes in market numbers.

Last week, Ray White New Zealand had 286 properties scheduled to go to auction, leading to a strong auction day clearance rate of 77.5 per cent – a big increase of 16.69 per cent when compared to the same week last year.

Read the latest Ray White Now here: https://raywhite.co.nz/ray-white-now/