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This Week's Lifestyle Properties and Open Homes
The new Rateable Valus are now officially out, and they have created a bit of a stir in the market. Overall, most of the market has dropped with Commercial and Industrial being the only segments that went up on average. Lifestyle in particular declined on average -13.5% (CV: Capital Value) and -15.9% (LV: Land Value). While no one likes to see the RV drop and the perception of value change, in many cases the market was selling below the previous RV’s as it was. The team and I have been viewing this largely as a market correction rather than a drop in value. These changes will likely create a lot of opportunity to pursue things that may have been previously out of reach and the message it provides is that the market may be starting to line up with where the RV’s are and with consistent messaging on values, we start to get consistent participation in the sales process. It’s worth making contact and testing the waters. There may be some cases where people aren’t quite ready to meet the market, but testing it early is better than waiting to see and missing the opportunity.
Properties sold this week
165 School Road, Clive
Open Home
1900 State Highway 5
1900 State Highway 5, Te Pohue
Property ID: HL228166
42 229 m2 1.59 Ha
This is rural done right! Built in 2010, this 229sqm (approx.) modern home was designed with space in mind. The moment you walk through the door, the large open plan kitchen greets you. A large center island is...
From $1,150,000
Open Home
1222 Taihape Road
1222 Taihape Road, Sherenden
Property ID: HVL227317
32 200 m2 2.92 Ha
If you’ve been searching for a lifestyle property that offers exceptional family living along with endless entertainment and outdoor activities, 1222 Taihape Road is a must-see. Set on 2.9ha (7.2 acres) approx. with sweeping rural views, this is far more...
From $1,350,000