The ongoing effects of Covid-19 in New Zealand are still being felt in Greater Ponsonby’s residential property market, and will be for the foreseeable future according to one of the area’s leading real estate agents.
Bayleys Ponsonby salesperson Blair Haddow said he was still recording a high level of potential home buyer interest from ex-pat Kiwis returning to New Zealand and looking for homes in the Ponsonby, Grey Lynn, St Mary’s Bay, Herne Bay locale.
“It was a trend which began in the middle of last year, and it is still occurring now, albeit in smaller volumes,” said Blair. “I regularly receive calls from Kiwis in MIQ with time on their hands looking at my listings in the area. I even received a call a month ago from someone leaving MIQ on a Sunday morning and enquiring if I could show them around one of my vacant property listings that afternoon.”
As another consequence of Kiwis not travelling abroad because of travel restrictions and concerns about the pandemic globally, Blair Haddow last month sold a multi-million-dollar home to a couple from the suburb of Three Kings who normally spent part of their year living in Europe, but as a result of staying ‘local’ for the past 12 months, found themselves with a greater disposable income and the ability to move up the proverbial property ladder.
“Many Kiwis staying ‘local’ over the past year have bought the jet ski, the boat, the new car or the spa pool with their greater disposable income, while others have simply utilised their accumulated savings to buy a new higher value home,” said Blair.
Looking ahead to the middle of 2021, Blair Haddow forecast that this year the usual winter buying malaise experienced in the New Zealand property market would be far less noticeable than in previous cycles.
“Traditionally, a lot of my market enjoy mid-year summer holidays in Europe, Hawaii, South-East Asia, Fiji, or Australia – avoiding our New Zealand winter. This year however, with travel restrictions and two-week quarantine requirements in place for everywhere apart from Australia, I don’t believe many Kiwis will be travelling abroad, and instead they will be focussing on domestic matters - such as selling their house or buying a new home,” he said.
“As a consequence, what would have been a quiet period of listings and sales could well see sales volumes track at higher levels than has traditionally been the case.”
Heading into autumn, Blair Haddow’s tranche of homes for sale features an art deco style four-bedroom/two-bathroom/ two living room residence in John Street, Central Ponsonby. The home has most recently been tenanted by crew members of America’s Cup challenger Luna Rosa, who left New Zealand last month after their cup challenge campaign finished.
Next on Blair Haddow’s portfolio of desirable dwellings in the area is a two-bedroom/one-bathroom terraced townhouse in Dock Street - opposite Victoria Park - offering the convenience of being on the immediate inner-city fringe.
The listings come on-line just as Blair Haddow has completed several sales in the Greater Ponsonby area including:
• A spacious apartment in Herne Bay’s landmark Shangri La tower bought for $3.90 million by an Auckland businessman who intends using the exclusive address as his residence when in the city
and
• 40 Grosvenor Street in Grey Lynn - a completely refurbished and modernised three-bedroom/two-bathroom, open-plan residence packed with chic multiple living spaces, a relaxing deck space overlooking a spa pool and flat lawn. It sold for $3.240 million to an Auckland couple moving up the property ladder.
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