Category Archives: Real Estate Insights

Real Estate Insights

As was widely predicted, the Reserve Bank have adjusted the Official Cash Rate upwards by 0.25% at the latest review on 6th October 2021.This was the first adjustment to the OCR since March 2020 and will come as no surprise to most market followers. Further increases seem likely to occur at subsequent reviews. As was [...]

Real Estate Insights

Each month, the Real Estate Institute of NZ (REINZ) releases a report that analyses the latest trends in the residential, rural and lifestyle real estate markets. This sales data is supported by comments from the REINZ CEO including opinions and projections of the future. Tommy’s main interest of course, is in our specialty area, residential [...]

Real Estate Insights

Interest rate hikes aren’t likely to affect Wellington house prices in the short term, Tommy’s Real Estate Sales Director Nicki Cruickshank says. “Listings are rebounding as we head into our busiest season and the Wellington market is still strong in terms of prices “This is mainly due to lack of supply but also because we’re [...]

Real Estate Insights

Almost daily we are reading of record sale prices for residential dwellings throughout New Zealand with few locational exceptions to this trend. Most areas of New Zealand have recorded exceptional capital gains for those fortunate enough to be homeowners in this era. In the latest press release from the Real Estate Institute of NZ (REINZ) [...]

Real Estate Insights

The tight housing supply in Wellington will continue because stock was depleted during lockdown, although more home-owners are looking to sell. “We have noticed a strong increase in the amount of owners wanting to come to the market, which is good as the stock levels are so low,” Tommy’s Real Estate Sales Director  Nicki Cruickshank [...]

Real Estate Insights

It is difficult to pinpoint anything good that has come from the Covid pandemic but perhaps we should thank the Reserve Bank for maintaining the Official Cash Rate (OCR) at 0.25% at the monthly review on 18th August 2021. Despite all the early warning signs that the OCR was likely to start an upward movement [...]

Real Estate Insights

It has been well documented that the capital city’s available housing stocks have been at record low levels over recent months. The hyperactive real estate market has left prospective home buyers with a limited selection of available homes to consider, and severe competition when they do find a property that meets their needs. That is [...]

Newsroom , Real Estate Insights

Despite the restrictions imposed on the real estate industry during the level 4 lockdown, we continue to hear reports of real estate transactions taking place. Tommy’s Real Estate have continued to meet the needs of some buyers and sellers during this time albeit at a lower level than normal. Today’s technology makes this possible with [...]

Real Estate Insights

Will spring herald a much-needed resurgence in the number of houses for sale in Wellington? “Yes, I do believe stock levels will grow in the spring, they always do,” Tommy’s Real Estate Sales Director Nicki Cruickshank says. “If they do remain low it will simply keep the prices high, with demand higher than supply.” The [...]

Real Estate Insights

As we all know, the rampant market of the last year or two has been kind to homeowners, many of whom have accrued considerable financial gains simply because they happened to own a property during these unprecedented times.

Real Estate Insights

We doubt that anyone could have predicted the huge increase in residential property prices that we have witnessed in the last two years or so. Neither our learned economists nor real estate market commentators nor those of us employed in the industry

Real Estate Insights

The soon-to-open Transmission Gully is driving up the value of Kapiti Coast properties. The Real Estate Institute of New Zealand reports the median price of a house in the district jumped 39 percent year-on-year, from $647,500 in May 2020 to $900,000 – which was just shy of April’s recording-breaking $930,000.