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Duke & Cooke Property News |
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Published on: 27th July 2009 AFFORDABILITY VARIES AFFORDABILITY VARIESHome affordability in Nelson-Marlborough continues to improve for first-home buyers, but has worsened for those classed as typical buyers. Overall, the BNZ Home Loan Affordability measure worsened nationally in June from May because of a slight rise in average fixed mortgage rates and an increase in the median house price. For a typical buyer in Nelson-Marlborough, it takes 60.6 per cent of one median income to pay the mortgage on a median priced house bought last month, up from 59.8 per cent in May. A typical buyer is assumed to be in the 30 to 34 age group. (The Nelson Mail, Tuesday 21 July 2009) GARDEN OWNER TO APPEAL CREMATORIUM DECISIONNelson funeral director Francis Day has confirmed he will appeal against the Tasman District Council's refusal to allow a new crematorium to be installed at the Gardens of the World property in Hope. Mr Day said while he could not give the detailed grounds for the appeal, he did not think the decision by the council's hearing panel to refuse it resource consent was supported by the evidence presented at the hearing. (The Nelson Mail, Wednesday 22 July 2009) FREE ENTRY TO FOUNDERSNelson residents and ratepayers will be allowed free entry to Founders Heritage Park from September 1, and Tasman residents will also be entitled to free entry pending further talks with the council. The city council's community services committee agreed yesterday to a recommendation supporting a new, simplified entry fee structure giving Nelson ratepayers and residents free entry and setting a fee structure for other visitors. Free entry applies when there is no event at the park. When there is an event patrons will be expected to pay usual administration charges, city council manager of cultural, social and recreation services Kath Inwood said. A library card or other proof of residence will entitle residents to free entry. (The Nelson Mail, Wednesday 22 July 2009) GOLDEN BAY REST HOME CLOSURE 'INEVITABLE'Closure appears inevitable for the Joan Whiting Rest Home in Golden Bay, memorial trust chairwoman Merrill Coke says. Mrs Coke last night presented the trust's annual report to the community, highlighting that the 17-bed rest home suffered an operating loss of almost $57,000 during the last financial year. Its deficit this year - without any assistance from the Nelson Marlborough District Health Board - is forecast to hit $130,000. The board is only promising a lifeline up until December 31 this year, by which time the rest home and other parties involved in a proposal to establish an integrated health centre in Golden Bay will have voted on whether to support the project. (The Nelson Mail, Friday 24 July 2009) HOSPITALITY BUYERS SOUGHT, BUT FINANCE TIGHTMany Nelson accommodation and hospitality businesses are for sale with some saying a backlog has been created by banks tightening up on lending. Tourism Property Brokers agent Nick Lambert said he put together six deals in the past three months and half fell over due to financing problems. Banks used to loan up to 60 per cent on leasehold properties whereas now it was a push to get 40 per cent, if anything, he said. Motels traditionally changed hands every 27 months on average and people's reasons for wanting to sell were "many and varied", he said. He doesn't believe the local motel industry has suffered hugely as a result of the recession. The latest end-of-year figures he's seen have shown a 5 to 10 per cent drop in business. On the market - Bella Vista Motel, Tahunanui, $525,000 leasehold - Torlesse Coastal Motels, Kaiteriteri, $3.65m freehold - Greenwood Holiday Park, Appleby, $425,000 leasehold - Bakers Lodge backpackers, Motueka, $340,000, leasehold - The Honest Lawyer, Stoke, offers, leasehold - Eatery on the Rock, Takaka, offers over $1.6m freehold, but leasehold option also - Leisure Lodge, Nelson, $15m, freehold (The Nelson Mail, Saturday 25 July 2009) 'SHED' WINS AWARDS FOR NELSON MANCreating what judges described as an "informal yet stylish urban shed" has seen Nelson architect Bill Revell collect three of nine regional design awards. Mr Revell not only designed the house, but also built it himself over the last five years. It sits on a 419sqm section in Lauria Way, a private road off Nile St, and is home to Mr Revell, his family and a boarder. The Architectural Designers New Zealand Resene 2009 Nelson Marlborough Awards this week saw Mr Revell win the first-time entrant, residential dwelling up to 250sq m and sustainable design categories. Judges Cymon Allfrey, Andrea Wilkes and Lauren Walker said Mr Revell's house "combines interesting form with well-considered planning and honest material use to create an exciting blend of internal and external spaces". The awards were a five-horse race between Mr Revell, Brian Johns, Mark Hawkins, Mark Fielding and Melanie Trolove. Mr Johns won two categories, the residential alterations and roof-design awards, with his Neudorf Hall entry. Mr Hawkins picked up the awards for best new residential dwelling over 250sq m and kitchen/bathroom interior. Ms Trolove was a finalist in the kitchen/bathroom interior award and won the Resene colour award, while Mr Fielding won the special projects award for the Solabode Starter Home and was a finalist in the sustainable design award. (The Nelson Mail, Saturday 25 July 2009) PROPERTY WATCHAbel Tasman scoop A two-bedroom bungalow at Torrent Bay in Abel Tasman National Park has sold for more than its $1 million rateable value within 11 days of hitting the market with Bayleys agents Tania Wilkins and Jan Long. Ms Wilkins said it was the first Torrent Bay property to go on the open market in 50 years. "The position could be considered as one of the best - exceptional uninterrupted beachfront views, as well as inlet views." She said a national marketing campaign was planned but not required. The property was purchased by a New Zealand family who lived offshore but owned property in Motueka and happened to be there on holiday, Ms Wilkins said. An offer was made just hours after the purchaser viewed it. "It shows that premium property is still commanding good market prices." July a big-ticket month July is proving to be a good month for higher price bracket sales. Bayleys Nelson agent Bruce Farquhar said he had six deals go unconditional during the past month, including three that each fetched over $900,000. One was a 338-square-metre home at 21 Birdling Close in Richmond, which sold "slightly above" its $970,000 RV before the closure of a deadline sale. The second was a 3.88-hectare Lud Valley property with two homes on it, which Mr Farquhar sold last year for $940,000 and now fetched $950,000. The other one was at 53 Trafalgar St. The Lud Valley and Birdling close properties both attracted multiple offers. Retro store expands Eclectic, the 1960 and '70s retro collectibles store in Waimea Rd, Nelson, is moving to bigger premises. Owner Maria Henare has confirmed she has leased the former Tresson Interior Design store in Hardy St and hopes to be operating there from August 1. The new store was about three times bigger, including upstairs space where furniture would be displayed, she said. "We've just outgrown this, really. I've got a lot of stuff in storage that can't be seen." Eclectic has operated from Waimea Rd for four years and occupied a smaller Stoke shop before that. More auctions planned The Richmond, Stoke and Mapua Ray White agencies plan to run regular auctions following one last week that resulted in five of 14 properties selling, agent Mike Harvey says. A 2168sq m section at 9 Bright Lane in the Appleby Hills subdivision was the only property to sell under the hammer, reaching $214,000. Its RV is $250,000. Four more properties sold in the following four days, and offers were pending on three others this week. Mr Harvey said the 14 properties collectively attracted 266 on-site views, nine pre-auction offers and 12 offers after auction. The auction was attended by 185 people and there was "live bidding" on nine of the properties, he said. Green Door busy The Green Door agency is noting a "particularly active" market for this time of year. Its recent sales have included a four-bedroom character home at 25 Richmond Ave, Nelson, which has an RV of $480,000 and sold above its asking price of offers around $545,000; a four-bedroom property at 267 Songer St, Stoke, which was marketed at offers around $535,000 and sold "well above" its $490,000 RV; and a three-bedroom refurbished home at 17 Hillside Lane in the Brook, which sold for 40 per cent more than its $240,000 RV within two weeks. "Buyers are certainly out there in numbers and seem increasingly keen to submit offers on well-priced, well-presented, well-positioned properties," managing director Gary Le Petit said. "Almost all our properties have been selling for well above their [rateable value]." (The Nelson Mail, Saturday 25 July 2009) DID YOU KNOW?Duke & Cooke independent valuations can be used for asset registers. THOUGHT FOR THE WEEKExperience is something you don't get until just after you need it. |
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