The Hawke's Bay Real Estate Market Continues To Hum

Friday, May 25th 2018

Everyone loves a long weekend, although the rain was torrential for a period over Queen’s Birthday.

The Hawke’s Bay real estate market continues to hum, with many buyers still looking to secure a slice of the Bay.  If you are currently selling and have not found your buyer yet, it will require either a game of patience as you wait for the market to move to your level of expectation or, pricing your property to the market.  Many sellers do not like putting a price to the market, but sometimes it is the only way to find where the buyers sit.  This market has been very generous to many sellers and will continue to be whilst we have so many buyers.  REINZ statistics for May will be released any day and are sure to show further support for the median price at around our current record level of $445,000.  Our Tremains team had another huge month in May, with good volumes and prices remaining at all-time highs as we continue to deliver the very best results for our vendors.

Tremains will release the Te Awa Fields subdivision to the market next week, bringing 67 new bareland residential sites to the market.  The Te Awa area has been very popular, with its easy access to the state highway towards Hastings and Havelock North.  Also sitting beside the Maraenui Golf Club and within a few minutes’ drive to the Napier CBD, the sites will prove popular in a market desperate for options to build new homes.  Please contact your preferred Tremains sales consultant for further information.

The industry was surprised by the latest report on methamphetamine standards which appears to advocate a safe level of 15mcg/100cm after cleaning when the Ministry of Health and Institute for Environmental Science and Research scientists just last year recommended a safe level of 1.5mcg.  The report’s figure is 10 times the current level that is deemed to be safe for occupation of residential homes.  What this latest finding will do to the market can only be speculated on, but in layman terms the Government is now suggesting that most homes that have had third-party contamination may be occupied.  The level of 15mcg seems very high, which will mean most properties that test positive could be eligible for occupation.  It will come back to what “discount” a buyer will look to negotiate should they still wish to buy the home. 

My nephew is currently playing in the New Zealand Under 20 rugby team in the south of France, with the team looking strong in its initial pool.  What an amazing experience it will be for him in his first foray in national colours.  The opportunities open to him are vast, and he has the discipline to continue to grow and hopefully progress in the years ahead – very exciting.  The
All Blacks step out this weekend for their first test of the year against France at Eden Park, a great start to the season.

Also, don’t forget our current promotion: “You put on the jug and we’ll bring the muffins” as we provide a more personal method of introduction to our team as they appraise the current value of your home.  I assure you, you will be surprised at how far some suburbs have come over the last two years.  A great time to sell and a great time to move up or down – let us help you make that move.  Have a great week.