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Property: New Year, New Home?
Property: New Year, New Home?

30 December 2024, 4:00 PM

As the clock ticks over into 2025, many of us are setting resolutions and planning for the year ahead. While some focus on fitness goals, travel plans, or mastering new skills, others might be thinking about something even bigger: their next steps in the property market.Whether you’re considering buying your first home, selling your current one, or simply refreshing the space you live in, the New Year is an ideal time to set clear, achievable real estate goals. Here’s how you can channel that fresh-start energy into making the most of your property journey.1. Start with a Homeowner’s Resolution ListWe often think of New Year resolutions in terms of personal goals, but your home deserves some attention too. As a homeowner, this could mean tackling those little projects you’ve been putting off—like fixing the dripping tap, finally sorting the shed, or giving the front garden a much-needed makeover.If you're dreaming of stepping onto the property ladder, use this time to set clear financial and practical goals. This might include creating a savings plan for a deposit, reducing debt, or researching the market to identify areas that suit your lifestyle. Starting early ensures you’re prepared when the right opportunity comes along.2. Selling? Embrace the New Year VibeIf 2025 is the year you plan to sell, you’re in a good position. The New Year often brings a renewed sense of motivation for buyers, many of whom are eager to act on their own resolutions. While the market can be quieter in January, this works in your favour as your property may stand out with fewer listings competing for attention.Make sure your home presents well by investing time in decluttering, deep cleaning, and adding some simple touches to freshen up the space. Consider small updates like a fresh coat of paint or adding greenery to bring life to your interiors. Creating a positive, inviting atmosphere can make all the difference when potential buyers walk through the door.3. Thinking of Buying? Define Your GoalsBuying a home is one of the biggest decisions you’ll make, so it’s important to start the year with a clear idea of what you’re looking for. Take some time to reflect on your needs and priorities. Are you seeking a family-friendly property close to schools? A low-maintenance townhouse? Or perhaps your dream home is a quiet retreat with stunning views.Write a list of your non-negotiables and nice-to-haves to guide your search. Keep in mind the realities of the market and your budget—it’s great to dream, but it’s equally important to be realistic. Talk to your bank or a mortgage adviser early on to understand your borrowing power and avoid surprises.4. Refresh Your Space, Even If You’re Staying PutNot planning to buy or sell this year? That doesn’t mean your home has to stay the same. The New Year is a great time to refresh your space, making it feel like a new home without the need to move. Start with simple changes like rearranging furniture, updating soft furnishings, or adding some new artwork.If you’re feeling more ambitious, you might consider tackling bigger projects like repainting a tired room or landscaping the garden. Small improvements can make a big difference, boosting both your enjoyment of the space and your property’s value.5. Plan Ahead with a Long-Term ViewThe New Year often inspires us to think big, but when it comes to real estate, a measured approach is key. Buying or selling a property isn’t something that happens overnight—it’s a process that requires planning, research, and patience.Use this time to get prepared. Stay informed about the local market, attend open homes, and build relationships with agents you trust. If selling isn’t quite on the cards yet, start exploring ways to increase your property’s value, such as renovations or upgrades that appeal to buyers.Looking to the FutureReal estate is about more than just buying and selling houses—it’s about creating a home that fits your life and future goals. Whether you’re actively making moves in the market or simply planning ahead, the New Year is an opportunity to take stock and set yourself up for success.If you’re thinking about buying, selling, or need advice on where to start, get in touch. Let’s make 2025 the year you achieve your property goals and take the next step towards your dream home.Here’s to a fresh start, a fulfilling year, and a home that feels truly yours.

Property: Why locals are rethinking their place in paradise
Property: Why locals are rethinking their place in paradise

27 November 2024, 4:00 PM

Living in Central Otago is a privilege many locals already enjoy—but even those who call this region home can discover new opportunities by exploring its diverse towns and lifestyles. Whether you're eyeing a quieter pace, more space for a growing family, or proximity to new amenities, moving within Central Otago could transform your lifestyle while keeping you close to everything you love about the region.Let’s dive into why locals are finding fresh reasons to make a move within this vibrant slice of New Zealand.Alexandra: A Thrill for Mountain Bikers and a Hub of GrowthAlready known for its sunshine and strong community spirit, Alexandra is fast becoming a go-to destination for mountain biking enthusiasts. New biking trails are drawing riders from across the region, putting Alexandra firmly on the map for outdoor adventurers.Beyond the trails, through Plan Change 19 new housing areas are getting a boost and it is setting the stage for significant residential developments, including the William Hill rural subdivision set to begin in 2025. The new Ngai-tahu development on the outskirts of Alexandra, and a couple of smaller subdivisions on the edge of Alexandra township, all bringing new housing options for buyers coming to Alexandra.While these developments promise growth, they also bring challenges, including increased wastewater demands, provision of green spaces, and roading issues. Nevertheless, Alexandra's potential expanded offerings, a great community, the great outdoors, and vibrant events like the Blossom Festival—continue to make it a prime choice for Kiwis and expats looking to relocate.Cromwell: Where Growth Meets OpportunityCromwell isn’t just for visitors—it’s becoming a hotspot for locals ready to embrace a more dynamic pace. With its vibrant town centre and growing residential developments, Cromwell is ideal for professionals, young families, and anyone wanting to stay ahead of the curve.The new Wooing Tree Estate offers stylish, family-friendly homes close to wineries and trails, blending modern living with rural charm. Locals moving here love the balance Cromwell strikes between tradition and opportunity. It’s still home to orchards and vineyards, but new developments and attractions like Highlands Motorsport Park which are turning Cromwell into a regional hub of innovation and entertainment.For those who enjoy a vibrant culinary and artisanal scene, Cromwell’s expanding offerings ensure you’ll never run out of new experiences.Clyde: Embracing Modernity While Preserving CharmClyde, a gem nestled in the heart of Central Otago, is evolving with care. The potential redevelopment of the Old Garage site and new housing opportunities on Sunderland Street are creating exciting options for those looking to move. Modern easy care townhouses are becoming an attractive alternative for retirees and professionals seeking low maintenance homes with smaller sections, and living with a touch of elegance.Clyde’s quaint main street retains its charm while catering to new residents, blending the old with the new seamlessly. The nearby Lake Dunstan Trail, Millenium River Track, and the mighty Clutha River provide endless outdoor activities, making Clyde an appealing choice for those seeking tranquillity with access to adventure.Shifting Demographics: Downsizing and OpportunitiesIntensive development across Central Otago is reshaping the region’s demographics. In areas like Alexandra, Cromwell, and Clyde, new housing is attracting more older residents from Wanaka and Queenstown who are looking to downsize, this trend is freeing up capital for retirees while prices are generally cheaper than our Lakes counterparts. Additionally many younger folk from near and far who are choosing to work from home, relish the outdoors that Central Otago provides, and gain valuable work life balance with no or little commuting.For those already lucky enough to call Central Otago home, these developments are creating new opportunities to refine your lifestyle without leaving the region. Whether it’s Alexandra’s vibrant community, Cromwell’s dynamic growth, Clyde’s cosy charm, or the slower, quieter appeal of Omakau, Ranfurly and Roxburgh, Central Otago offers endless ways to find your perfect place in paradise.Are you ready to embrace the next chapter? Let’s explore your options in Central Otago.

Property: tourism, development, and market trends
Property: tourism, development, and market trends

09 October 2024, 4:00 PM

The booming tourism industry in Lakes/Central Otago has significantly influenced the local real estate market over the past few years, particularly in hotspots like Queenstown Lakes, Wanaka, and Cromwell.With an influx of visitors drawn to the region's natural beauty, wineries, ski fields, the annual Alexandra Blossom Festival, bike trails, and outdoor activities, demand for short-term accommodations like Airbnb has surged.This in turn, has increased property values, making Central Otago a competitive market for investors and second-home buyers.Rising property prices have also pushed locals out of the housing market, creating concerns about affordability and availability of seasonal and long-term rentals.Another factor for the property market will be the proposed gold mine in Tarras by Santana Minerals, which introduces a potential game-changer for Central Otago’s economy and real estate market.If approved, the mine could attract a wave of workers and industry professionals to the area, potentially increasing demand for housing among potential buyers.This demand for property could further strain an already tight housing market, especially as the region balances tourism growth, seasonal worker accommodation, and the needs of local residents.However, it has also spurred the development of new housing and infrastructure projects, potentially easing some of the current shortages.Additionally, Ngāi Tahu has recently announced plans to develop The Pines area adjacent to the Alexandra Golf Course.Alongside this, several other developers are planning residential and rural subdivisions, including the old William Hill Winery site.These developments are expected to sustain Central Otago’s growth and provide buyers with more location options for building their homes.

Property: Interest Rates Drop and Central Otago’s Property Market Continues to Thrive
Property: Interest Rates Drop and Central Otago’s Property Market Continues to Thrive

03 September 2024, 5:00 PM

Many borrowers across the country breathed a sigh of relief recently when the Reserve Bank decided to cut interest rates by 0.25 basis points in response to a weakening economy and inflation nearing their target range. Though a modest change, it signals a gradual decline in interest rates for the foreseeable future.Kiwibank was quick to respond, lowering rates soon after the announcement, followed closely by other major banks such as ASB and ANZ.The impact on New Zealand’s housing market will be varied. As a softer labour market, job security and costs of living continue to influence activity and values. However, the property market in Central Otago has shown remarkable resilience and growth, with key metrics indicating a positive trend.Search activity on Trade Me Property in Central Otago has increased by 12% compared to July last year, suggesting growing interest from potential buyers and investors. New listings on Trade Me at a regional level are up by 23%, highlighting a strong supply of properties entering the market. While Otago, as a whole, has seen an even greater increase of 39%, the growth in the Central Otago district is particularly significant, reflecting the region's appeal. This surge in listings not only offers more houses for sale for potential buyers but also demonstrates the confidence of sellers in the market’s potential.Properties listed on Trade Me are now selling 2% faster than before, a clear sign of the high demand for homes in Central Otago. The demand for properties is increasing and buyers are acting quickly. Central Otago is becoming a competitive real estate market where well-priced homes are swiftly snapped up. Properties priced under $800,000 are the most popular in Central Otago, with searches and sales in this price range increasing significantly over the past three months. This mirrors a national trend in New Zealand, where there is strong buyer interest in more affordable homes. The surge in this segment reflects the region’s accessibility to a broader range of buyers, including first-time homeowners and investors looking for value.The latest figures show that house prices in Central Otago have risen by 4%, according to the most recent price index. This steady increase in property values indicates strong demand for real estate in the area, making it an attractive destination for both investors and homeowners seeking long-term gains.Out of 70 areas across New Zealand, Central Otago is one of only three regions experiencing growth in the property market. This unique position underscores the region's appeal, driven by its scenic beauty, quality of life, and investment potential. As Central Otago continues to thrive despite economic challenges, the region’s unique blend of opportunity and appeal makes it a standout destination for both local and international home-buyers alike.

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