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COMMENT: Real estate possible at level three

Never fear property buyers and sellers - alert level three is still workable for the Auckland real estate market, according to Century 21 owner Derryn Mayne.

Monday, August 17th 2020, 12:32PM

Century 21's Derryn Mayne

We’ve operated safely and effectively in alert level three before, and Auckland’s real estate industry will do so again.

Going into spring is always a good time to sell property, particularly this year given the current lack of listings.

Also, real estate websites are likely to see more traffic with Aucklanders forced to stay at home.

Those Aucklanders contemplating selling their houses should not be put off by this latest lockdown.

While it restricts people’s activity, it also gives buyers more time to surf the net and contemplate their options.

But the quality of a vendor’s online marketing strategy is now critical.

The likes of virtual tours, floor plans, video and drone footage can only help when potential buyers are forced to view remotely.

What’s more, social media increases a property's exposure, with imagery easily shared.

Not only can buyers use this time wisely, but those looking to sell should also use this lockdown to prepare their property inside and out. As they say, don’t waste a lockdown!

Level three in Auckland means auctions can take place online or via phone bidding, private property viewings can happen by appointment and with restrictions, as can pre-settlement inspections, settlements and moving house in Auckland.

Property appraisals can happen with strict protocols in place but ideally should be carried out remotely, while discussions with agents on agreements, marketing and the listing process must occur via teleconference or over the phone, not in person.

For the rest of the country, level two sees the likes of two-metre social distancing observed, a contact tracing system in place at open homes, and no more than 100 people in attendance at an auction.

But there is no reason for real estate transactions to slow. In fact, activity and interest will be high in Auckland in the next two weeks - albeit just not as visible.

To date, property is holding up well and the time to act is now!

Remember there are plenty of families keen to move, empty nesters downsizing, first-home buyers securing record-low interest rates, and investors seeking better returns.

Read more:

The return of Covid-19 and what it means for landlords

Advisers ready for extended lockdown 

Tags: Auckland Century 21 demand house prices housing market listings mortgages property investment real estate sales activity supply

« COMMENT: It’s not all doom & gloom COMMENT: Don’t miss your $5,000 deductions! »

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Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 3.85 3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 ▼2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 3.05 3.19 3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.55 2.69 2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.15 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.00 3.13 3.02

Last updated: 21 September 2020 10:48am

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