The reopening of New Zealand’s international travel borders has seen a renewed interest in residential properties for sale around Central Auckland’s western city fringes – thanks to the growing number of cashed-up new arrivals coming into the country.
Leading residential real estate salesperson Blair Haddow from Bayleys Ponsonby said the change in buyer dynamic had been evident since the end of March when travel back to New Zealand became easier for those coming from foreign shores, both as Kiwis returning home and new migrants.
“In that time alone for example I’ve been working with an ex-pat’ Kiwi who has returned to New Zealand after an extensive period in London, and an Australian company executive who has relocated to Auckland and is specifically looking to buy in the Ponsonby, Grey Lynn, Herne Bay, or Westmere areas,” said Blair Haddow.
“The international interest trend is also tracking through emails where I’m now regularly receiving enquires, and the first thing they say in the email is something like: ‘Hi Blair, I’m currently based in London/New York/Middle East/Sydney/Melbourne etc. and looking to come back to Auckland in the next month or so and just wondering if you can tell me a bit more about your listing's. I haven’t seen that type of tone for 18 months.
“That shows they’re doing their groundwork/homework on the property market before they arrive. So while the number of physical ‘feet on the ground’ coming in from abroad is a trickle at the moment, there is a definite bigger flow looming on the horizon in the very near future.
“Virtually all of those international buyers I’m corresponding with tell me that they have sold up their existing homes and are coming to Auckland cashed up and ready to buy, thereby avoiding any of the issues first home buyers are experiencing as a result of the Credit Contracts and Consumer Finance Act.
Saying that, a mortgage broker who presented to the Bayleys Ponsonby team this month has indicated that the banks are becoming more liberal with their lending policies to existing borrowers and reverting back in many cases to assessing mortgage borrowing potential in a more traditional framework which the market is more comfortable with.”
Blair Haddow said the bubbling activity he was tracking at the upper end of the residential property market in his specialist western central city fringes, indicated that the sector was somewhat different from patterns seen elsewhere around the region in the mid-price range.
“My buyers are experienced and highly-funded property owners who are well up the proverbial property ladder and this is reflected in the style of homes which they are seeking,” said Blair.
With listing stock still ticking over in the Ponsonby, Grey Lynn, Herne Bay and Westmere suburbs, Blair has two new listings in June, featuring:
17 Harcourt Street in Grey Lynn – a fully transformed designer three-bedroom/two-bathroom villa, with stunning newly-added high-stud extension housing the kitchen, dining room and lounge in an open-plan format with full height windows opening onto the deck and manicured rear lawn with its inground swimming pool.
Immaculately presented, the split-level home, with design aspects spanning two centuries, features American oak floorboards and marble counter tops engendering the epitome of style and luxury in a light-filled residence which comes straight out of the pages of an interior design magazine. Blair is marketing the home with a set sale date.
Meanwhile, at the other end of the spectrum and representing very loyal longstanding clients with one of their rentals on Blair Haddow’s books is:
A two-bedroom/one-bathroom flat in a block of four units in Don Croot Street, Kingsland. With two car parks, the 1970s style concrete block flat has been recently refurbished with new carpet throughout, along with the addition of a new kitchen and new bathroom making it perfect for a ‘readymade’ entry level residence, or well situated for an investment property thanks to its proximity to the vibrant hospitality hub of Kingsland.
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