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Kāpiti Property Stats That Matter · That Home Loan Hub

• 0:10
  SPEAKER_01: Stats, stats, stats.
• 0:12
  SPEAKER_01: It's that time of demands.
• 0:13
  SPEAKER_01: Hello, Megan.
• 0:14
  SPEAKER_01: Hello.
• 0:15
  SPEAKER_01: Stats.
• 0:16
  SPEAKER_01: Yes.
• 0:16
  SPEAKER_01: Very exciting.
• 0:17
  SPEAKER_01: Very exciting.
• 0:18
  SPEAKER_01: We love this topic.
• 0:20
  SPEAKER_01: We always start in Why Can I?
• 0:22
  SPEAKER_01: Because we Why Can I?
• 0:23
  SPEAKER_01: Yep.
• 0:23
  SPEAKER_01: Why can I?
• 0:24
  SPEAKER_01: Why can I beach?
• 0:25
  SPEAKER_01: Mm-hmm.
• 0:25
  SPEAKER_01: I've got both.
• 0:26
  SPEAKER_01: You've got both?
• 0:27
  SPEAKER_01: Let's go.
• 0:27
  SPEAKER_01: Why can I beach?
• 0:28
  SPEAKER_00: Okay.
• 0:29
  SPEAKER_00: What's really interesting is Why Can I Beach is selling much faster, less on less properties on the market, and obviously less sales drives the prices up usually.
• 0:43
  SPEAKER_00: So well, less houses means that the buyers are competing for them.
• 0:48
  SPEAKER_00: And that drives the prices up.
• 0:50
  SPEAKER_00: I think last time there were like four sales or something.
• 0:52
  SPEAKER_00: Yeah, well, there were seven this month.
• 0:53
  SPEAKER_00: So we're talking September and there were seven in Waikinae Beach.
• 0:58
  SPEAKER_00: Average days to sell, 29 days.
• 1:01
  SPEAKER_00: No.
• 1:02
  SPEAKER_00: Fast.
• 1:02
  SPEAKER_00: Really fast.
• 1:03
  SPEAKER_00: Wow.
• 1:04
  SPEAKER_00: So they were saying I think the Wellington regional average is about 52, 54 days, depending on the city.
• 1:10
  SPEAKER_00: I was about six and two months, yeah.
• 1:12
  SPEAKER_00: Yeah, yeah.
• 1:13
  SPEAKER_00: So 29 days is very fast.
• 1:15
  SPEAKER_00: And then Waikinae Central to compare that with is 86 days on market.
• 1:22
  SPEAKER_01: Wow.
• 1:22
  SPEAKER_00: That's a lot more than the Wellington regional average.
• 1:26
  SPEAKER_00: So total contrast, two suburbs side by side, it's like Romeo and Juliet out here.
• 1:32
  SPEAKER_00: Wow.
• 1:33
  SPEAKER_00: So also there's there's a price difference.
• 1:36
  SPEAKER_00: So the average price in Waikinae Beach this month was lower.
• 1:43
  SPEAKER_00: Which is a little bit different to what we normally expect.
• 1:45
  SPEAKER_00: Waikani Beach is normally higher, but this September the average sale price was eight to five.
• 1:51
  SPEAKER_01: Wow.
• 1:51
  SPEAKER_01: I'm sure last time it was like over a mil.
• 1:53
  SPEAKER_00: Yeah, and the average sale price in Waikinae Central was 930,000.
• 1:59
  SPEAKER_01: Wow.
• 1:59
  SPEAKER_00: So just hear those numbers again.
• 2:01
  SPEAKER_00: 930 for Why Can I and 825 for Why Can I Beat.
• 2:06
  SPEAKER_00: How many properties did the Waikani Central sell?
• 2:09
  SPEAKER_00: Uh sales this month there were 16 in Waikanai Central.
• 2:13
  SPEAKER_00: So not, I mean a huge amount, but yeah, double.
• 2:16
  SPEAKER_00: Yeah.
• 2:17
  SPEAKER_00: So yeah, but there is some argument that, you know, with less than 30 bits of data that it can get skewed a little bit.
• 2:25
  SPEAKER_00: But yeah, that Waikanae is still the highest selling suburb in Karpady.
• 2:30
  SPEAKER_00: Okay, well let's go to Paraparomo.
• 2:32
  SPEAKER_00: Okay.
• 2:33
  SPEAKER_00: Going to the other end.
• 2:34
  SPEAKER_00: If you're heal hearing rustling, I'm just quickly shuffling shuffling my papers.
• 2:39
  SPEAKER_00: Okay, Parapata Omo.
• 2:41
  SPEAKER_00: So we've got Beach and Central.
• 2:44
  SPEAKER_00: So the number of sales was about similar.
• 2:48
  SPEAKER_00: So there were 13 in Parapata Omo Beach and 15 in Parapataomo Central.
• 2:55
  SPEAKER_00: So quite similar.
• 2:56
  SPEAKER_00: Average days to sell were totally different.
• 2:59
  SPEAKER_00: In Parapata Omo Beach, 38 days to sell versus Para Pata Omo Central, 52, which is what we're seeing across the region.
• 3:08
  SPEAKER_00: That's average, that's okay, that's normal, it's not a blip, it's pretty consistent.
• 3:13
  SPEAKER_00: But to sell in 38 days, whoo, that's fast.
• 3:17
  SPEAKER_00: That is fast.
• 3:17
  SPEAKER_00: Yeah, that's some really motivated buyers, vendors, and hardworking agents.
• 3:22
  SPEAKER_00: There's a story there.
• 3:24
  SPEAKER_00: But it was quite interesting because Parapata Omo Beach had 59 properties on the market, which is half as many as Parapata Omo Central.
• 3:35
  SPEAKER_00: 99 properties on the market there.
• 3:37
  SPEAKER_00: So more properties on the market and longer to sell in Parapata Omo Central.
• 3:45
  SPEAKER_01: I wonder, you know, there's some there's like a whole new development of new little tiny houses.
• 3:51
  SPEAKER_01: The Audacity development.
• 3:52
  SPEAKER_01: I went in and have a look um a while back.
• 3:55
  SPEAKER_01: And they're tiny, they're like one bedroom, maximum two bedroom, and they're just probably the size of this room here.
• 4:02
  SPEAKER_01: I've been through a few of them.
• 4:03
  SPEAKER_00: Yeah.
• 4:04
  SPEAKER_00: I wonder if they're also part of those stats that they probably are.
• 4:07
  SPEAKER_00: I'm just looking at it.
• 4:09
  SPEAKER_00: And where would they fall?
• 4:10
  SPEAKER_00: Would they fall?
• 4:11
  SPEAKER_00: They're not actually well, I'm I'm seeing there's about ten on my printed list, and they don't include those.
• 4:17
  SPEAKER_00: So and yeah, what's quite interesting is Parapata Omo Central, the prices range from like six hundred and thirty seven thousand five hundred right up to this property that sold in Bidwell Way, Bidford Way, which sold for one million and eight.
• 4:35
  SPEAKER_00: One point eight million.
• 4:36
  SPEAKER_00: No, one not one point eight, one million.
• 4:39
  SPEAKER_00: Eighty.
• 4:40
  SPEAKER_00: And no, like actual eight.
• 4:43
  SPEAKER_00: Actual eight.
• 4:44
  SPEAKER_00: Look, I've written it down.
• 4:45
  SPEAKER_00: It gets very confusing when we add extra zeros.
• 4:47
  SPEAKER_00: Oh my god.
• 4:48
  SPEAKER_00: Like thousands.
• 4:49
  SPEAKER_00: Yeah, eight thousand dollars.
• 4:51
  SPEAKER_00: One million and eight thousand.
• 4:52
  SPEAKER_00: I just think that's probably a result of some negotiation because it's an unusual number to see in in our stats.
• 4:59
  SPEAKER_00: So yeah, possibly they put on an extra 8,000 and then got the house.
• 5:03
  SPEAKER_01: Yeah, but it's amazing to see the the difference in price, right?
• 5:07
  SPEAKER_01: Like Parapuromo versus Waikanae.
• 5:09
  SPEAKER_01: Yeah.
• 5:09
  SPEAKER_01: 200k difference.
• 5:11
  SPEAKER_00: Yeah, huge.
• 5:12
  SPEAKER_00: And it's funny because we still get Wellington buyers coming to us every Sunday saying, Oh, I like this area.
• 5:19
  SPEAKER_00: My preference would be Raumassy, but I'm willing to go as far as Waikinae.
• 5:24
  SPEAKER_00: And we're like, okay, with that budget, you know, you're going to struggle to buy in Waikinae.
• 5:30
  SPEAKER_00: It's still the most desirable suburb in Karpati.
• 5:34
  SPEAKER_00: And yeah, they're still thinking, oh, I'll stretch all the way to Waikanae, my extra petrol.
• 5:39
  SPEAKER_00: But actually, Waikanae always performs the best.
• 5:42
  SPEAKER_00: Interesting.
• 5:42
  SPEAKER_01: Yeah.
• 5:43
  SPEAKER_01: And it was the same, like years ago when we were looking to buy 10 years ago, 11 years ago.
• 5:47
  SPEAKER_01: It was the same story.
• 5:48
  SPEAKER_00: The expressway has probably helped a lot to make people realize it's actually not that much further.
• 5:54
  SPEAKER_01: No.
• 5:54
  SPEAKER_00: Um, we're up and down between all the suburbs all the time in our little car, and we're not on an EV yet.
• 5:59
  SPEAKER_00: So it's really not that far.
• 6:02
  SPEAKER_00: Okay.
• 6:02
  SPEAKER_00: Laura Ra Romati.
• 6:04
  SPEAKER_00: Yes, Romati.
• 6:05
  SPEAKER_00: I'm still struggling with my R's there.
• 6:08
  SPEAKER_00: The very low number of sales in September.
• 6:11
  SPEAKER_00: Uh so Romati Beach, eight sales.
• 6:16
  SPEAKER_00: I'm just gonna say Raumati South, three sales.
• 6:19
  SPEAKER_00: So quite comparative.
• 6:21
  SPEAKER_00: Uh but the average amount that they were selling for was quite different.
• 6:26
  SPEAKER_00: So Beach sold for an average sale price of eight hundred and sixty-nine thousand and Raumati Central sorry, Raumati South 737.
• 6:41
  SPEAKER_00: Okay, so quite different.
• 6:43
  SPEAKER_00: Yeah.
• 6:44
  SPEAKER_00: Yeah.
• 6:45
  SPEAKER_00: Days on market were also dramatically different.
• 6:48
  SPEAKER_00: You'll love this.
• 6:49
  SPEAKER_00: Okay.
• 6:50
  SPEAKER_00: So Raumati Beach, 56 days to South.
• 6:53
  SPEAKER_00: Industry average, not not that concerning.
• 6:56
  SPEAKER_00: That's what we're seeing across Wellington.
• 6:58
  SPEAKER_00: But Real Maddy South sold in 18 days on average.
• 7:04
  SPEAKER_00: 18.
• 7:04
  SPEAKER_00: 18.
• 7:05
  SPEAKER_00: 1.8.
• 7:05
  SPEAKER_00: 1-8.
• 7:06
  SPEAKER_00: Isn't that exciting?
• 7:08
  SPEAKER_00: How?
• 7:08
  SPEAKER_00: Yeah.
• 7:09
  SPEAKER_00: How?
• 7:09
  SPEAKER_00: I'm not sure.
• 7:10
  SPEAKER_00: But with only three sales, we won't get too excited because it's probably not really a trend with three sales.
• 7:17
  SPEAKER_01: Wow.
• 7:18
  SPEAKER_00: Isn't that amazing?
• 7:19
  SPEAKER_00: So then we've also got the percentage above RVs.
• 7:23
  SPEAKER_00: So Raumati Beach was 5% above RV.
• 7:27
  SPEAKER_00: And can you read out what Raumati South had as above RV?
• 7:30
  SPEAKER_00: It's just down on the bottom there.
• 7:31
  SPEAKER_00: Average above RV, 11%.
• 7:34
  SPEAKER_01: 11%, yeah.
• 7:35
  SPEAKER_01: I'm just looking at this because you've got you do have a breakdown by properties.
• 7:40
  SPEAKER_01: Now one property here, so there were only three properties sold, right?
• 7:43
  SPEAKER_01: Yeah.
• 7:43
  SPEAKER_01: In Raumati South.
• 7:45
  SPEAKER_01: And one took 94 days to sell, but then the other two took 15 and 18.
• 7:52
  SPEAKER_00: Yeah.
• 7:52
  SPEAKER_01: We and A.
• 7:53
  SPEAKER_01: So the two properties sold super fast within two weeks.
• 7:55
  SPEAKER_01: Yes.
• 7:55
  SPEAKER_01: And then one sold really.
• 7:57
  SPEAKER_01: One took like three months.
• 8:00
  SPEAKER_00: Yeah.
• 8:00
  SPEAKER_00: I don't know.
• 8:01
  SPEAKER_00: It's it's crazy.
• 8:02
  SPEAKER_00: The stats change all the time.
• 8:04
  SPEAKER_00: The thing that we need to focus on is presentation, price, and strategy.
• 8:09
  SPEAKER_01: Which we're going to get into in the next podcast episode.
• 8:13
  unknown: Yeah.
• 8:14
  SPEAKER_01: But the stats always fascinate me because I feel like, you know, we people sometimes send me messages and going, Oh, I'm like this house, do you think, you know, this is the average price for your price, whatever.
• 8:24
  SPEAKER_01: How do we even price it?
• 8:26
  SPEAKER_01: So when you look at the stats and you go, okay, this is the type of properties, this is what it's sold for, it gives you some sort of indication, but you just never know which way the market will turn all of a sudden.
• 8:35
  SPEAKER_00: Well, it's based on the past.
• 8:37
  SPEAKER_00: It's based on how can you calculate it.
• 8:39
  SPEAKER_00: Like, is are you basing it on settled properties or properties under offer?
• 8:43
  SPEAKER_00: You know, how many days was it live on the market?
• 8:46
  SPEAKER_00: At Harcourts, we do a lot of quiet listings, so it might have been on the market quietly for a while and then gone live.
• 8:51
  SPEAKER_00: So it's quite a sort of an art form interpreting all of this.
• 8:57
  SPEAKER_00: And we constantly get buyers from Wellington and Lower Heart, especially saying, Oh, we've just had YRAPA buyer as well, also saying their property values have dropped below RV.
• 9:09
  SPEAKER_00: And we're kind of in carpet, we're going, yeah, people still look at RVs because it's something that is factual, but they don't understand that's not a valuation.
• 9:18
  SPEAKER_00: The council hasn't gone through and said your house is worth this.
• 9:22
  SPEAKER_00: They're just using our figure to base the rates off.
• 9:24
  SPEAKER_00: Yeah.
• 9:25
  SPEAKER_00: So to use that as a basis for making an offer is still quite of a loose sort of approach.
• 9:32
  SPEAKER_00: Yeah.
• 9:33
  SPEAKER_00: And if they go to their mortgage advisor and say, Do you think this amount is a fair offer for a property in this suburb?
• 9:40
  SPEAKER_00: Or, you know, if if you get a good rapport with the agent and you can't trust us to provide you with some comparable data, which we would love to do, um, then you can inform yourself in in actual factual stuff rather than basing it off an RV anyway.
• 9:54
  SPEAKER_01: I love how you like.
• 9:56
  SPEAKER_01: We just the data nerds, like just ask us.
• 9:58
  SPEAKER_01: We would love to give it to you.
• 10:00
  SPEAKER_00: I'd love to.
• 10:01
  SPEAKER_00: I'd love I'd prefer, rather than reading this out, I would prefer to say what street is it, what kind of house is it, what's the square footage, okay, what's the cladding, and then give you some comparable sales that are based on actual sales in the last three months rather than oh well this is 11% above our V.
• 10:17
  SPEAKER_00: Like it it's not really meaningful.
• 10:19
  SPEAKER_00: Yeah.
• 10:19
  SPEAKER_01: And it'll be interesting to see leading up to the elections, how do the sales go?
• 10:24
  SPEAKER_01: And whether they will slow down or whether they will ramp up.
• 10:28
  SPEAKER_01: I mean who knows.
• 10:29
  SPEAKER_00: It's interesting.
• 10:30
  SPEAKER_00: People keep asking us about elections, and we're like, we'll just stick to real estate.
• 10:35
  unknown: Yeah.
• 10:36
  SPEAKER_01: Yeah.
• 10:36
  SPEAKER_01: No, exactly.
• 10:37
  SPEAKER_01: Also, Megan, thank you so much, and see you next time.
• 10:39
  SPEAKER_01: Thank you.