Patrick McCarthy - UP Real Estate

Patrick McCarthy - UP Real Estate I sell houses and apartments in the Herne Bay, St Marys Bay and the Greater Ponsonby area.

Such is the buyers attitude towards their choice of home! Without doubt, right now buyers are focused on keenly priced, ...
21/11/2024

Such is the buyers attitude towards their choice of home! Without doubt, right now buyers are focused on keenly priced, well constructed, nicely presented homes with blemish free credentials i.e. a clean LIM, code compliant and well maintained. This focus is reinforced by the requirements of both banks and insurance companies. There’s no question that buyers purchase on a perceived “best value” basis, right now that is particularly the case. Home ownership is a very personal, often emotional thing, this can have some vendors blind to the reality of where their home sits in the market relative to others.

The market is busier than it has been for many months – properties are selling. If your home is not getting the attention you think it deserves, it may pay you to visit the open homes in your area and compare for yourself. Time on the market is not your friend, just look at the number of “watchers” on your listing. They could be waiting for you to indicate a selling range they perceive to be best value relative to other homes in your area.

We’re thrilled to announce that the beautiful home at 91 John Street, Ponsonby, has found its new owners! 🎉It’s been a p...
08/11/2024

We’re thrilled to announce that the beautiful home at 91 John Street, Ponsonby, has found its new owners! 🎉

It’s been a pleasure finding the perfect fit for this stunning home, and we couldn’t be happier for the new owners starting their next chapter here.

Stay tuned for more beautiful homes and stories of success!

Selling a property comes down to a simple equation that balances time on the market and the price achieved. At any given...
07/11/2024

Selling a property comes down to a simple equation that balances time on the market and the price achieved. At any given time, buyers evaluate your home against others and make offers accordingly. For this reason, sellers position their home by price, either to be the next property to sell in the area or somewhere further down buyers’ preferred lists.

To discover the best price the market is willing to pay in the shortest possible time, a deadline can be useful—whether through tender, auction, or set sale date. Some homeowners choose to list their property with a fixed price and wait for offers. This approach works as long as the price is seen as good value compared to similar homes. If not, an overpriced home is likely to sit on the market.

Ultimately, it’s impossible to mislead buyers, who make it their business to understand relative value. If a property is seen as overpriced, the homeowner will likely need to wait for a special buyer—someone who values the home’s unique features enough to pay a premium.

With Christmas approaching, those aiming for a quick sale should carefully evaluate their property’s pricing and marketing strategy.

With only four weeks until December, Auckland’s residential property market continues to heat up, demonstrating stabilit...
01/11/2024

With only four weeks until December, Auckland’s residential property market continues to heat up, demonstrating stability and balance across city-fringe and central suburbs. Increased listings are presenting buyers with more choices, though total volumes remain below historic averages. Sellers, meanwhile, are seeing steady interest, especially in high-value segments where demand for properties in the $2 to $5 million range remains strong.

A growing trend of buyers missing out on preferred properties suggests that supply and demand are moving towards a healthy equilibrium, particularly in sought-after areas. With new policies - such as the shortened bright-line test - and recent OCR adjustments coming into effect, Auckland’s market is poised for a vibrant summer season, offering promising conditions for both buyers and sellers.

UP Real Estate is ready to support clients in capturing the market’s full potential and anticipates a continued strengthening of Auckland’s residential sector throughout the summer.

Striking double-storey character villa in sought-after Ponsonby. Open-plan living connects to sunny north/northwest deck...
17/10/2024

Striking double-storey character villa in sought-after Ponsonby. Open-plan living connects to sunny north/northwest deck with outdoor fire. Grassed area perfect for children or gardening. Unobstructed views over St Paul's College fields. Off-street parking for 2 cars, solar panels. Walking distance to Ponsonby and Jervois Roads' vibrant cafes, boutiques, and nightlife. Your slice of Ponsonby paradise awaits at 91 John St!

Preview viewing Friday 17th October 12-12.30pm.
Open Homes Sat & Sun 2.15-3.00pm
See you there.

More good news. This week’s confirmation of the Consumer Price Index (CPI) having fallen to 2.2% gives further credence ...
17/10/2024

More good news.

This week’s confirmation of the Consumer Price Index (CPI) having fallen to 2.2% gives further credence to an ongoing lowering of the Official Cash Rate (OCR).

Already, mortgage rates are dropping on an almost daily basis. The Reserve Bank is due to consider the OCR again on the 27th of November. Already many are predicting a further 0.5 drop to 4.25%.

We can’t help but wonder whether this is providing fuel for buyers to procrastinate on their timing of their purchase in order to secure the most beneficial mortgage rate. Of course, the answer to that is to negotiate your settlement out 60 to 90 days. This scenario cannot help but drive activity and competition for homes which ultimately may drive price. Right now is probably as good as it gets for buyers.

No surprise! Today’s 0.5% drop in the OCR to 4.75%, was a “better late than never” reaction to an economy that continues...
09/10/2024

No surprise! Today’s 0.5% drop in the OCR to 4.75%, was a “better late than never” reaction to an economy that continues to struggle. Certainly, the property market will appreciate the resuscitation to flagging sales volumes. Similarly, homeowners will grab hold of this with a sigh of relief. With further rate drops signalled before the end of the year, you could say Christmas may have come early for many.

With just 10 effective selling weeks till Christmas, the outlook for making a great sale has just improved – we are feeling it already.

It’s clear the prospect of a further OCR drop next week is stimulating overall activity in the residential property mark...
04/10/2024

It’s clear the prospect of a further OCR drop next week is stimulating overall activity in the residential property market. Albeit, that the number of sales is on the increase, property prices have yet to show significant signs of gain https://www.corelogic.co.nz/news-research/news/2024/rate-cuts-havent-pumped-up-house-prices-yet

Looking forward, we anticipate another OCR drop next. Whilst prices have fluctuated recently, we expect the market to continue its gradual recovery, especially as economic conditions improve. If you’re thinking about selling, this is a great time to take advantage of the increased buyer interest. Here at UP Real Estate, our sales rate is on the increase with many multiple offers, auction sales under the hammer and auctions being brought forward.

Investment property back in focus?The reality of falling mortgage interest rates, bank deposit rates and the value of mo...
27/09/2024

Investment property back in focus?
The reality of falling mortgage interest rates, bank deposit rates and the value of money is prompting many to reconsider their investment strategies. With a falling OCR comes a corresponding reduction in deposit interest rate returns. As a result, we're observing an increasing number of investors looking towards property as an attractive option. For more insights, you may find this article informative: https://www.interest.co.nz/personal-finance/129888/latest-mortgage-figures-reserve-bank-show-investors-too-bigger-share

Consider the reinstatement of interest write-offs and the changes in the bright-line test alongside diminishing interest rate returns and falling mortgage rates. It's understandable why we're witnessing a renewed focus on property investment. For a detailed explanation of these changes, we recommend reviewing this comprehensive analysis: https://www.deloitte.com/nz/en/services/tax/perspectives/may-2024-changes-to-residential-property-taxation-explained.html

We can attest to recent market activity, with a couple of blocks of flats selling in the last few weeks. One property was acquired in an off-market multi-offer situation, while another was sold at auction with 12 registered bidders, indicating strong investor interest. Given these market conditions, now may be an opportune moment to consider reinvesting in property.
If you're interested in discussing current investment opportunities or have any questions about the market, please call or txt me direct on 0272 333 988.

The property market right now is full of interesting possibilities for everyone. Whether you're looking to buy or sell, ...
19/09/2024

The property market right now is full of interesting possibilities for everyone. Whether you're looking to buy or sell, there's potential for some great moves.

Auckland's city fringe suburbs really come alive in spring, and it's no different this year. These neighbourhoods are as popular as ever, thanks to their great communities, closeness to the city, and fantastic amenities. Spring typically brings more homes on the market and more interested buyers, making it an exciting time to explore what's out there.

If you're in the market to buy, you'll be pleased to know there's a wide range of properties available at different price points. With the market a bit calmer in some areas and mortgage rates settling down, it could be a great time to find your dream home on terms that work for you.

Sellers, don't worry - you're still in a good position, especially if your property is in one of those high-demand suburbs. While the market has cooled a bit from the frenzy of recent years, well-maintained homes in great locations are still selling quickly, often with multiple offers.

All in all, Auckland's city fringe continues to be a hotspot of opportunity. With spring traditionally being a busy time for property, now's the perfect moment to make your move. Whether you're buying or selling, a bit of knowledge and good timing can go a long way. Why not take advantage of the current conditions before the year wraps up?

Things are changing.The shift downwards in the OCR (Official Cash Rate) on August 14 has proven to be the catalyst for a...
06/09/2024

Things are changing.

The shift downwards in the OCR (Official Cash Rate) on August 14 has proven to be the catalyst for a 30% increase in visitors to our website. With the likelihood of further interest rate cuts on the near horizon, buyers are proceeding to purchase in the full knowledge that their mortgage cost is likely to decrease.

Similarly for those homeowners who have been looking for the right time to sell – this Spring is more positive than it has been for last two years. Buyers are definitely on the hunt, we have made many sales in the last 30 days, some in 7-10 days. We have many examples of properties that have enjoyed the benefit of our new targeted Spring Marketing Packages. We’d love to explain, call us anytime.

As the ongoing national obsession with digesting and dissecting the economy goes on, we continue to enjoy working with b...
29/08/2024

As the ongoing national obsession with digesting and dissecting the economy goes on, we continue to enjoy working with buyers and sellers who are transacting for genuine reasons. From first home buyers, expanding families, school zones, employment opportunities to ultimately downsizing and retiring, we continue to help facilitate the changing seasons in people’s lives. Yes, the tensions around what creates our real estate market are important, but so is finding the right home for your current requirements.

Contemplating the next chapter of your real estate journey? We look forward to being of service.

Address

162 Jervois Road, Herne Bay
Auckland
1011

Telephone

+64272333988

Website

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