Triangle TV Interview With Real Estate Institute Rookie Of The Year Custom Residential’s Robyn Ellson
It probably depends on whether you’re buying or selling.
But the big international credit rating agency – Standard & Poors – thinks it could be bad news.
Last week, Standard & Poors cautioned our banks about their high level of exposure to the property market, saying they run the risk of a sharp fall – or what some politely call a “correction” – in housing prices.
The new Reserve Bank Governor Graeme Wheeler has been preaching a similar message. He thinks our house prices are “over-valued” on some measures. And Finance Minister Bill English has been even blunter: He says the housing market “isn’t working”.
But none of this seems to be registering with the sellers and buyers. Price are up. So are sales … And the time it takes to move a property is the only thing that seems to be going down.
To get a street-level view of the situation, Selwyn Manning’s been talking to the Real Estate Institute’s Residential Rookie of the Year – Custom Residential’s Robyn Ellson (See: RobynEllson.co.nz).
You represent the heart of a booming Auckland real estate market, Mt Albert, Kingsland, Eden Terrace, Ponsonby, Freemans Bay.
Question 2: What is making this housing market so hot, what is pushing prices up to record levels?
* Better quality homes on the market?
* Far more people lining up to buy than there are homes on offer?
* Better marketing of homes?
Question 3: Some people say this Auckland real estate boom is akin to a bubble and that it could very well burst. What is your take on that?
Question 4: For people purchasing homes at this time, have they left it too late, will the market flatten out from here?
Marketing To The Buyer Seller
On your website you state: Before every sale I think very carefully about who is going to buy this particular property.
Question 5: What are the kind of people looking at purchasing homes in Auckland at the moment?
* Families from Auckland?
* Families from out of Auckland?
* People from overseas?
I understand many homes are selling for hundreds of thousands of dollars above their Government Capital Value.
Question 6: What are some recent examples of homes and what they sold for?
Question 7: Are people more prepared these days to have huge mortgages of record amounts?
Question 8: Are you still seeing investors purchasing homes and if so what kind of homes are they after?
Question 9: Are people cashing in on the record values of their homes and moving out of Auckland?
The Beatson Interview broadcasts weekly on Triangle TV and webcasts on LiveNews.co.nz.