Tag Archive | New Zealand

Global Economy

Economy Update

Economy Update

The Australia RBA has reviewed their cash rate in view of the slowing economy. It is now becoming apparent that this country has mismanaged its biggest resources investment boom in decades and is now potentially looking towards a new government to change this situation.

China’s weak data has been a concern to the markets and a reduction in projected growth is forecast for this year. China’s reduced projected demand of coal and iron ore is directly affecting the Australian markets. However, business confidence still remains unchanged in a recent BNZ Business Confidence survey in New Zealand.

This is having a positive flow on effect on migrant flow between NZ and Australia reducing NZ net loss significantly over the last months of data. The net loss a year ago was 39,622, while the current net loss is 32,862.

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Changes to Home Insurance

By now you have probably seen the adverts with the talking letter boxes warning us about sweeping changes within the insurance industry in New Zealand. The aim of the campaign is to help inform and educate home owners about the move from unspecified open end replacement insurances, based on size (sqm), to maximum specified sum insurance policies, commonly known as Sum Insured policies.

In order for you to have protection in the event of your home being destroyed, it is important that you are aware of these changes and know exactly what the cost of rebuilding your home would be.

How should you calculate the Sum Insured?

There are a number of online calculators from most insurers which will assist in determining the cost of rebuilding your home; alternatively, some home owners are using professional services to determine rebuild costs.

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The TV adverts direct you to visit http://need2know.org.nz which is brought to you by New Zealand’s largest general insurer, IAG New Zealand Limited (the owner of the State, NZI and Lantern Insurance brands and underwriter for most of the home insurance offered by ASB, BNZ and the Co-operative Bank, and many New Zealand insurance brokers) and by AMI. Your own insuracne company will also have details on their own website

First National Real Estate Time for Change

After over a quarter of a century in Tauranga, First National Real Estate recognised to continue in today’s competitive market, it was time for change. Such a change involved not only relocation of the National office to Auckland but the restructuring of resources to provide expanded products and services to our membership.

This relocation to Auckland was specifically engineered to increase both presence and brand profile in a business city. Suffice to say, this move, together with the restructuring, has resulted in shaking off the gloom of recent poor market conditions, the global financial crisis and, ultimately, enabled us to focus on adding value and growth to our membership.

The introduction of a vast array of new technology products from First National (Australia) will provide benefits to our sales and property management teams. This is just one of the great benefits of being a part of a 400+ First National International network. Added to this, as a co-operative, our members continue to value their autonomy as they have no big brother watching over them.

A revitalised executive management team lead by general manager Colleen Milne (MBA) has achieved exceptional results largely due to her hands on administrative approach backed by her extensive experience at senior management level. This real estate role is a change of career for Colleen who previously came from a franchising background, “it is a pleasure to work in this co-operative, with such a committed group of members. The members believe in the brand and work together for the good of the membership which is very refreshing” says Colleen Milne.

Under Colleen’s guidance, the restructuring of the National office has seen the introduction of a real estate licensed trainer, a property management trainer as well as a membership services manager who are all focused on delivering products and services to the network’s sales people, property managers and their teams.

Joining the executive, in 2012, was a very technology savvy Chairman of the Board, Bob Brereton whose guidance and expertise is taking the First National brand from strength to strength.

For more information please contact:
Colleen Milne
General Manager
First National Group NZ Ltd
Mobile: 029 771 0750

First National Real Estate New Zealand's General Manager, Colleen Milne

First National Real Estate New Zealand’s General Manager, Colleen Milne

WHAT IS HAPPENING IN REAL ESTATE IN UK AND AUSTRALIA?

Some interesting learnings from my fleeting visits to England and Australia lately; both markets are troubled, the UK flat for several years now, with flat line values in all areas except London, where, within an hour of the centre, there is still value growth and yes, the leading sales professionals are doing almost as well as they did five years ago. The market is back by half compared with those good old days.

Real Estate around the Globe

Across the ditch and things are going downhill in most markets…both numbers and prices, although good property in Sydney and Melbourne still attract strong offers. Auction clearance rates are certainly coming back and exceptional  bargains are being seen at discretionary venues as was the case here… at  prime tourist spots….Port Douglas, Cairns, Surfers etc.

What interested me most though was, through discussions with a wide variety of people in the industry and in both countries, that in the cities and especially those with traffic issues, small offices in retail streets and main thoroughfares are the current focus; four through six staff, management functions back at a base elsewhere and the rationale? People walk to most places or catch cabs….so, offices are no more than a comfortable walk away from anyone.

To give you an example, one group is targeting a further 150 ‘small format’ offices in the city but only half that number in the rest of the state where they favour larger, regional offices. Other groups support offices with effectively sole trading areas, so these are larger is size and further apart.

In London, the market is dominated by several very large and often family-owned companies with up to 100 offices, though several  with 50.

Everyone is seeking to double their property management portfolios and most focusing on internal growth with known landlords.

What was pleasing I guess, and this is the competitive streak in me, is that we are without doubt through the mill further than either country. While we all wonder what the Euro-mess is going to deliver,  we are to some degree, outside it and do have products many buyers across the world want…so just maybe we are more secure. When industry slows, nobody buys coal, gas or ores…but they still gotta eat!

All commented that NZ as an investment market cropped up from time to time in their offices…and we know  there are some cashed up Aussies poking around and if you read up on move2nz.com you will see their reports on increased enquiry from the UK.