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Property market report

Auckland Council fees and charges continue to rise unchecked and is a major contributor to a continued fall in building consents across greater Auckland.

Fewer new homes are being built and the cost of building them keeps rising.

The number of new homes being consented has nosedived by more than 30% over the last two years, and the cost of building them is still increasing, according to interest.co.nz's latest analysis of Statistics NZ's residential building consents data.

This shows 7717 new dwellings were consented throughout the country in the first quarter (Q1) this year, down from 9720 (-20.6%) in Q1 last year, and down from 12,333 (-37.4%) in Q1 2022.

At the same time the average estimated cost of building those homes has continued to rise.

The average estimated build cost (excluding land) of new dwellings consented in Q1 this year was $462,654, up $21,978 (+5.0%) compared to Q1 last year, and up $68,100 (+17.3%) compared to Q1 2022.

The increase in building costs is a reflection of all costs including Auckland council charges that could make up 20% of the build cost.

In Q1 2010, the average size of new homes consented was 202 square metres, and had steadily declined to 141 square metres in Q1 2024. That means the average size of new homes has declined by 61 square metres (-30%) over the last 14 years.

In the last two years, from Q1 2022 to Q1 2024, the average build cost has increased from $2695 per square metre to $3276 per square metre, up by 21.6%

We would hope that Chris Penk, Minister for Building and Construction can place some heat on Councils to reduce costs and increase transparency of compliance costs.

It is an issue that has plagued the construction sector previously as the market goes through a boom to bust cycle leaving the public unsettled and creditors out of pocket.  If you are considering building we suggest you talk with a number of credible building companies and lock in a fixed price to reduce surprises.

Let’s look at market sales:

Hobsonville                             $585,000 to $2,300,000

Massey                                     $590,000 to $1,515,000

Swanson                                  $670,000 to $2,020,000

Waitakere                                $1,275,000 to $1,800,000

West Harbour                         $910,000 to $2,700,000

Westgate                                  $715,000 to $1,380,000

Whenuapai                              $735,000 to $1,290,000

If you are looking to achieve a great result for the sale of your property please contact me today for a free pre-sale property checklist and appraisal that will provide a starting point in your decision-making.  After 18 years working with buyers and sellers, I have a depth of knowledge and experience to share with you. No cost, no obligation, just some honest feedback.  Call me, Graham McIntyre AREINZ directly at 0800 900 700, via text at 027 632 0421, or through email at graham.mcintyre@mikepero.com. Mike Pero Real Estate Kumeu/ Hobsonville. Licensed REAA2008.

17 Jun

Ladies Who Lawn

Ladies Who Lawn are not your typical landscape, garden and maintenance service. These Ladies do it all - rural land care, riparian planting, garden maintenance, pest management and In-school community education to name only a few. But if there’s one thing The Ladies do super well, it is to work extremely hard to provide opportunities for change in their local community.

Not only do they provide training for the lucky ladies in their team, they provide free childcare for their staff and whānau from their business premises too. “The reality of returning to work for many wahine in our community looks like spending up to a third (sometimes more) of your weekly wage on childcare. It seems like a never-ending battle to get ahead for so many. Being able to alleviate some of the financial stress for our whānau helps to build the foundations that are needed to establish systems and routines that allow you to move out of the rat race, we have had some truly beautiful examples of this in our team” - Rosie

Ladies Who Lawn are in their 3rd year of business and currently in the process of developing their nursery, Raumati Gardens. “It’s all about setting achievable goals that in time will add multiple benefit to the business model; Raumati will not only provide financial benefits and incentives, but educational opportunities for our wahine in training to get down to the nitty gritty, and learn about things like monocotyledons and dicotyledons, through to monitoring soil and growth conditions etc”- Milaan. Directors Milaan and Rosie, formerly teachers of 30 years combined, are driven by their desire to provide opportunities for other woman in the community to ‘dream big’. Ladies Who Lawn are made up of a team of ladies who are both qualified and in training who all bring different strengths to the team.  

“Great companies start because the founders want to change the world, not make a fast buck. The entrepreneur always searches for change, responds to it, and exploits it as an opportunity. The things you regret most in life are the risks you didn’t take. There are no secrets to success. It is the result of preparation, hard work, and learning from failure. In order to succeed, your desire for success should be greater than your fear of failure. I know that if I fail, I won't regret that, but I know the one thing I might regret is not trying” - Milaan.

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14 Jun

Understanding landlord responsibilities

Renting out a property can be a rewarding endeavour, providing a steady income stream and potentially long-term financial security. However, being a landlord also comes with a set of responsibilities that must be taken seriously to ensure a positive and compliant rental experience for both parties involved. In this guide, we'll explore the key responsibilities that landlords have when renting out their properties.

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10 Jun

Meet Stacey Milne: Your trusted real estate expert

Stacey was born and raised in the North West area, where she has spent time connecting and forming local relationships with the community and area, gaining local knowledge. With 10 years’ experience behind the scene as a licensed PA, she has packed together her knowledge and experience and is now ready to sell your home or help you purchase your new home...

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June 2024

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