Welcome to my summer newsletter.
Following a year in which real estate prices corrected themselves after the boom of 2021, it seems likely that 2023 will bring some stability in prices. That said, predictions are that there will be a cautious approach to real estate until the general election later this year.
On a personal note, I have continued to develop expertise in the seniors real estate sector beyond the traditional salesperson offering. I completed the Diploma in Real Estate (Agent) qualification in 2022 after 18 months of additional part-time study, and also continued volunteer work with Grey Power. I have been studying "aging in place" and how we can best achieve that in older age. This is discussed in the video below.
I remain on the lookout for properties that will suit the retired clients that I am working with. These are generally two-bedroom properties on a single level that are low maintenance and fit within an $800,000 budget. Please get in touch if you have something that fits the bill.
Finally, I wish you a healthy and happy year.
Five Keys to Ageing in Place
Bay of Plenty Market Statistics (December 2022)
Compared to December 2021
Median Price down 5.1%
Sales Count down 39.0%
Days to Sell increased 22 days
Compared to November 2022
Median Price up 2.3%
Seasonally adjusted median price up 2.3%
Sales Count down 15.7%
Seasonally adjusted sales count down 5.0%
Days to Sell increased 7 days
The current Days to Sell of 52 days is much more than the 10-year average for December which is 38 days. There were 31 weeks of inventory in December 2022 which is 21 weeks more than the same time last year.
Source REINZ Statistics
4/17 Simmonds Grove, Greerton $715,000
Located in an enclave of quality homes, 4/17 Simmonds Grove is in great company. This warm, sunny brick 2 bedroom home with double glazing and a heat pump offers you quiet relaxation and security.
Learn more: For Sale 4/17 Simmonds Grove ...
9/19 Glencarron Place, Bethlehem $719,000
9/19 Glencarron Place is an attractive and well-maintained, two-level, three-bedroom townhouse boasting a study, two bathrooms, and an upstairs deck. It is a low-maintenance property with no lawn-mowing required.
Learn more: For Sale 9/19 Glencarron Place ...
Seniors Real Estate
In 2022, Te Ara Ahunga Ora Retirement Commission released its "Review of Retirement Income Policies" which is carried out every three years. One of the areas under particular focus was housing.
For generations, New Zealanders have viewed property as a safe and reliable investment, as well as an income source for retirement.
In retirement, many retirees envision selling their family home and moving into a smaller property with some sales proceeds remaining to fund their lifestyle.
In recent years, however, people are discovering that downsizing is becoming increasingly difficult due to a lack of appropriate properties.
An increase in the number of suitable accommodation options for older people, including modern, accessible one- and two-bedroom apartments, would be beneficial to them, releasing larger family homes to the market, as well as reducing the maintenance and council rates retirees must pay.
One of the recommendations from that report is that the government considers ways to stimulate the supply of affordable and accessible smaller one-two bedroom properties.
For the full report follow this link:
What's on in Tauranga
Tauranga Rotary Club's 34th Annual Book & Art Sale
Traditional real estate with unique solutions and specialist guidance for seniors
Seniors Real Estate Specialist
Licensed Agent REAA 2008
027 242 7646 l www.seniorsrealestate.co.nz
Inspire Real Estate Limited | Licensed Agent REAA 2008