June has arrived on the back of some amazing Hawke’s Bay weather but I think we may find that winter may have just arrived.
The Hawke’s Bay real estate market continues to out perform most others in the country with buyer numbers still at excellent levels and great prices still being achieved. Winter will be interesting when traditionally the weather does not allow homes to be at their best. We will keep a close track on volumes of sales as we progress towards Spring.
The big talking points for property in the media last week have been around the moving goalposts of KiwiBuild, the Government program that was originally targeted to build 100,000 new homes over ten years. The latest numbers quoted this week stated that there would be 300 homes built, then 80, then they were unsure how many houses had been at all – what a circus. If you go on the KiwiBuild website it still states that ‘Kiwibuild is working to provide 100,000 homes for first home buyers over the next decade’. Unfortunately we are dealing in ‘dreamworld’ when it comes to what the Government is trying to accomplish. This then leads to the wider problem of emergency housing for homeless people and many other people being pushed out of rental homes due to a variety of reasons. The impact of increasing house prices has seen many investors sell rental properties and many first home buyers keep adjusting their sights on location due to affordability and buying the previous rental homes. The impact of Air B&B has taken many other long term rental properties out of the rental housing net, leading to a major issue in New Zealand. The emergency housing is causing major issues in different locations throughout the country with families pushed into motel rooms and long term solutions not being found. So what can be done? Unfortunately, the cost of building housing and the availability of affordable land does not come down. Ultimately, I believe the Government need to build the houses that have been stated and Housing New Zealand need to do what they say they do, ‘provide housing services for people in need’. It would be interesting to see what the portfolio of properties under Housing NZ management has changed to in recent years? I have no idea, but we have major issues and we need a solution that is achievable and not in ‘dreamland’.
Great night at the Hawke’s Bay Sports Awards last Saturday with the Napier Tech Cricket Club taking out the Tremains Team of the Year, after taking the Hawke’s Bay senior title for seven years on the trot. Two nights before that, we had a very successful dinner for Cape Coast heritage walk which is, once again, an amazing addition to coastal Hawke’s Bay. If you were ever thinking of donating money to a worthy cause to help improve what the Bay has to offer, then look no further.
– Simon Tremain