© Homenet Enterprises Ph: (04) 234 8006, E-mail: graham@homenet.co.nz

DECEMBER 2011

Leaders Real Estate Group represented by: Leaders Real Estate (1987) Ltd, Northside Realty Ltd, Villa Real Estate Ltd. Licensed under the Real Estate Agents Act 2008

Disclaimer: All the information published in Property Update is true and accurate to the best of the publisher’s knowledge. No liability is assumed by RE/MAX Leaders, nor the publisher, for any losses suffered by any person or organisation relying directly or indirectly on this newsletter.

Price-conscious buyers push sales volumes up Real Estate Institute of New Zealand (REINZ) latest data on the New Zealand housing market showed 5,007 unconditional sales for the month, up 1,104 sales (+28.3%) compared to the same month last year.

“The volume fi gures for October suggests that the spring ‘lift’ widely expected in the real estate market has been muted, but so too has any impact from the Rugby World Cup and European uncertainty”, said REINZ Chief Executive Helen O’Sullivan. “Volumes are up strongly compared to this time last year, but that in part refl ects a very weak October 2010 when sales volumes were amongst the lowest in the past 20 years”.

“We are seeing plenty of activity, but buyers are still very price-conscious. They will move quickly when they fi nd a property that meets their needs, but properties perceived by prospective buyers as over-priced are not generating much interest at all.” The national median ‘days to sell’ improved by 2 days from 37 days in September to 35 days in October. The days to sell were at 41 days in October 2010. The days-to-sell measure continues to trend downward and has now fallen by 10 days over the past fi ve months, from 45 days in May to 35 days in October.

SALES MEDIAN DAYS TO SELL MEDIAN SALE PRICEAREA OCT 10 OCT 11 OCT 10 OCT 11 OCT 10 OCT 11

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IAN

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WELLINGTON REGIONAL COMPARISON

Wellington Region Median Sales Price $000s $000sWairarapa 38 47 39 62 $222 $230 Wellington Central 43 38 45 53 $467 $340 Wellington West 32 36 27 25 $483 $551 Wellington East 21 27 29 27 $450 $500 Wellington South 33 27 23 22 $525 $471 Wellington North 65 80 30 26 $415 $431 Pukerua Bay/Tawa 68 64 47 42 $349 $429 Lower Hutt 82 102 43 30 $353 $341 Upper Hutt 32 52 52 31 $342 $349 Otaki/Paekakariki 71 74 53 66 $329 $370 Levin 14 27 94 56 $192 $218

Comparative sales fi gures compiled from the Real Estate Institute of NZ statistics

Win Dinner for 2 at Logan Brown Restaurant

Cnr Cuba and Vivian Streets Tel: 801 5114

To go into the draw fi ll in your name address and telephone number and mail your Newsletter by the end of the month to: “RE/MAX Leaders Logan Brown contest” PO Box 24262 Manners Street Wellington 6142

To email your entry: Email remax@homenet.co.nz and include the following details:Subject: Logan Brown contestEmail: Your name, address, and contact phone number and the name of the agent who sent you the newsletter.

Courtesy of Logan Brown Restaurant you are offered the opportunity to win dinner for two to the value of $250.00

Newsletter sent to me by of RE/MAX Leaders

Name

Address

Telephone Email

Last month’s winner was: Kate and Carl Hartmann of Waikanae

Best wishes for a safe and happy Christmas and a prosperous New Year!

Trevor and Jill set up a family trust fi ve years ago and transferred their family home to it. Since then they had been gifting $27,000 each per year to reduce the loan from them to the trust that arose from the transfer of the property to the trust. After the abolition of gift duty in October, they gifted the whole amount remaining in one lump sum. They presumed they had therefore completed all their responsibilities in relation to the trust and could “rest easy” until they sold the property.

Those like Trevor and Jill need to be careful that they continue to administer their trust after making a fi nal gift. There are continuing obligations in relation to trusts to ensure it is clear that the property is owned by a trust and not you personally. Those include:

Decision-making• - Ensure that all trustees are included in every decision regarding trust property and all major decisions are recorded in writing and signed by all trustees.Finances• - If the trust has its own income stream, annual accounts need to be prepared, and an annual tax return prepared for the trust. A separate bank account for the trust should be used.Trustee meetings• - Hold annual meetings of trustees and ensure minutes are taken. Your lawyer will be able to assist you with ongoing maintenance of the

trust, to ensure your trust is as watertight as possible. By Claire Coe Rainey Collins Lawyers www.raineycollins.co.nz or

follow us on Twitter @RaineyCollins

‘Home mortgage borrowers should stay fl oating’In one of his recent ‘overviews’ Tony Alexander, Chief Economist with the BNZ, said that ‘the world is looking worse and worse and now for the fi rst time this year I am even thinking that fi xing two years near 6% or three years near 6.25% may not be worth it. I would stay fl oating. But for business borrowers there may be an opportunity to secure some low cost two or three year fi xed rate funding and remove uncertainty regarding cash movements.’

Ongoing responsibilities after completing gifting

Steve Fejos’s

PHONE 04-475-5021 CELL PHONE 0275-621-777 EMAIL sfejos@leaders.co.nz

Chris Ritchie Barrister & Solicitor

In legal matters your choice of lawyer matters

Leaders Building, 15 Brandon Street, Wellington. Phone 04 472 9711. Fax 04 472 9223.

mail@chrisritchielaw.co.nz www.chrisritchielaw.co.nz

Personal and professional legal service at competitive rates.Meet me at the offi ce or if it’s more convenient

I can come to you.

Essex St Aro Valley $620,000 3 $585,000 Aro St Aro Valley $660,000 5 $600,000 Epuni St Aro Valley $793,500 5 $670,000 Adelaide Rd Berhampore $295,000 2 $315,000 Royal St Berhampore $391,000 2 $360,000 Herald St Berhampore $395,000 2 $380,000 Waripori St Berhampore $400,491 3 $370,000 Angus Ave Berhampore $495,000 3 $390,000 Rintoul St Berhampore $537,500 3 $550,000 Rintoul St Berhampore $557,050 3 $485,000 Orissa Cres Broadmeadows $320,000 2 $315,000 Mitchell St Brooklyn $335,200 3 $325,000 Reuben Ave Brooklyn $420,000 3 $410,000 Kopiko Way Brooklyn $438,000 3 $410,000 Ohiro Rd Brooklyn $471,000 2 $460,000 Mitchell St Brooklyn $410,000 2 $375,000 Glenside Rd Churton Park $400,300 3 $390,000 Hawtrey Tce Churton Park $515,000 4 $510,000 Wantwood Gr Churton Park $515,000 4 $510,000 Windermeer Gr Churton Park $515,000 3 $510,000 Mauldeth Tce Churton Park $680,000 5 $675,000 Churton Dr Churton Park $310,000 3 $305,000 Halswater Dr Churton Park $432,500 3 $425,000 Winston St Crofton Downs $505,000 3 $500,000 Middleton Rd Glenside $179,000 1 $185,000 Guadeloupe Cres Grenada Village $301,000 3 $300,000 Tortola Cres Grenada Village $342,000 3 $365,000 Maracas Cres Grenada Village $370,000 3 $355,000 Caroni Way Grenada Village $387,147 3 $355,000 Alexandra Rd Hataitai $531,000 4 $560,000 Upoko Rd Hataitai $700,000 6 $790,000 Te Anau Rd Hataitai $1,190,000 4 $970,000 Hamilton Rd Hataitai $331,000 2 $335,000 Moana Rd Highbury $1,275,000 5 $1,250,000 Severn St South Island Bay $487,000 3 $460,000 Frobisher St Island Bay $540,000 3 $485,000 Knoll St Island Bay $551,000 3 $465,000 Murray St Island Bay $562,500 4 $620,000 Severn St South Island Bay $730,000 4 $680,000 Middleton Rd Johnsonville $310,000 3 $315,000 Ironside Rd Johnsonville $360,000 3 $370,000 Chapman St Johnsonville $370,000 3 $380,000 Ironside Rd Johnsonville $474,500 3 $490,000 Hallewell Cres Johnsonville $523,200 3 $520,000 Earp St Johnsonville $551,000 4 $500,000 Mclintock St Johnsonville $626,000 3 $580,000 Mclintock St Johnsonville $670,000 5 $660,000 Frankmoore Ave Johnsonville $371,000 2 $375,000 Macaulay St Johnsonville $400,000 2 $400,000 Campbell St Karori $570,000 4 $450,000 Campbell St Karori $644,000 3 $640,000 Scapa Tce Karori $653,000 3 $540,000 Versailles St Karori $665,200 4 $600,000 Karori Rd Karori $732,000 4 $660,000 Braithwaite St Karori $950,000 5 $960,000 Karori Rd Karori $955,000 4 $890,000 Marsden Ave Karori $1,360,000 3 $1,450,000 Plymouth St Karori $1,390,000 4 $1,335,000 Espin Cres Karori $2,650,000 4 $1,825,000 Ridd Cres Karori $360,000 2 $435,000 Narbada Cres Khandallah $572,500 4 $580,000 Indira Pl Khandallah $680,000 3 $730,000 Calcutta St Khandallah $780,000 4 $780,000 Everest St Khandallah $1,127,000 4 $980,000 Amritsar St Khandallah $1,325,000 4 $910,000 Childers Tce Kilbirnie $335,000 3 $295,000 Duncan Tce Kilbirnie $465,000 3 $455,000 Rongotai Rd Kilbirnie $500,000 3 $460,000 Baden Rd Kilbirnie $570,000 4 $550,000 Farnham St Kingston $535,000 5 $440,000 Rawson St Linden $286,000 3 $475,000 Rawson St Linden $310,000 3 $290,000 Mclellan St Linden $418,000 3 $395,000

Katarina Gr Linden $418,500 3 $385,000 Wha St Lyall Bay $490,000 5 $460,000 Onepu Rd Lyall Bay $520,000 3 $500,000 Apu Cres Lyall Bay $638,500 3 $595,000 Kaikoura St Maupuia $487,000 3 $430,000 Wayside Miramar $407,000 2 $425,000 Byron St Miramar $495,000 2 $375,000 Otaki St Miramar $585,000 4 $510,000 Townsend Rd Miramar $691,600 3 $600,000 The Quadrant Miramar $468,500 3 $430,000 Brougham St Mt Victoria $245,000 2 $240,000 Majoribanks St Mt Victoria $460,000 3 $790,000 Albany Ave Mt Victoria $860,000 6 $780,000 Moeller St Mt Victoria $940,000 3 $1,050,000 Derby St Mt Victoria $305,000 2 $270,000 Oswald Cres Newlands $380,500 4 $375,000 Miles Cres Newlands $382,000 3 $380,000 Colchester Cres Newlands $395,000 3 $365,000 Cheyne Walk Newlands $420,000 4 $450,000 Ruskin Rd Newlands $475,000 3 $450,000 Edgecombe St Newlands $281,000 2 $250,000 Rintoul St Newtown $420,000 3 $480,000 Motueka St Ngaio $345,000 3 $270,000 Satara Cres Ngaio $440,000 2 $460,000 Ottawa Rd Ngaio $490,000 3 $510,000 Collingwood St Ngaio $493,000 3 $480,000 Bombay St Ngaio $510,000 3 $550,000 Kenya St Ngaio $590,000 3 $540,000 Amapur Dr Ngaio $660,000 4 $660,000 Mysore St Ngaio $680,000 4 $660,000 Bombay St Ngaio $512,000 3 $530,000 Vasanta Ave Ngaio $320,000 2 $325,000 Randwick Rd Northland $455,000 3 $490,000 Garden Rd Northland $465,000 3 $465,000 Farm Rd Northland $490,000 3 $490,000 Creswick Tce Northland $615,000 3 $640,000 Orangi Kaupapa Rd Northland $635,000 4 $630,000 Harbour View Rd Northland $901,100 4 $940,000 Mauldeth Tce Ohariu Valley $700,000 5 $745,000 Oriental Pde Oriental Bay $485,000 2 $570,000 Pelorous St Paparangi $413,000 3 $400,000 Omar St Rangoon Heights $471,000 3 $500,000 Tarawera Rd Raroa $320,000 2 $320,000 Tarawera Rd Raroa $395,000 3 $385,000 Dominion Park St Raroa $215,000 2 $210,000 Oriental Pde Roseneath $467,000 2 $570,000 Falkirk Ave Seatoun $722,000 3 $780,000 Ferry St Seatoun $725,000 3 $750,000 Ludlam St Seatoun $750,000 4 $690,000 Dundas St Seatoun $775,000 4 $760,000 Falkirk Ave Seatoun $840,000 3 $820,000 Seatoun Heights Rd Seatoun $1,557,000 4 $1,000,000 Houghton Bay Rd Southgate $373,000 1 $300,000 Raukawa St Strathmore $388,000 2 $400,000 Tannadyce St Strathmore $411,253 3 $355,000 Birkhall Gr Strathmore $490,000 3 $475,000 Ebor St Te Aro $372,000 2 $125,000 Courtenay Pl Te Aro $385,000 2 $385,000 Orchard St Thorndon $633,000 4 $670,000 Pitarua St Thorndon $635,000 2 $580,000 Newman Tce Thorndon $1,010,000 4 $860,000 Cottleville Tce Thorndon $328,000 2 $310,000 Little George St Thorndon $495,500 2 $500,000 Liardet St Vogeltown $523,000 3 $530,000 Liardet St Vogeltown $475,000 3 $500,000 Finnimore Tce Vogeltown $396,000 2 $440,000 Fortunatus St Vogeltown $817,000 5 $800,000 Barnard St Wadestown $650,000 4 $645,000 Anne St Wadestown $880,000 4 $1,050,000 Bedford St Wilton $462,000 4 $400,000 Wilton Rd Wilton $471,000 2 $455,000 Wilton Rd Wilton $485,000 4 $440,000 Huntingdon St Wilton $500,022 3 $445,000

Recent Wellington Residential Property SalesStreet Name Suburb SOLD Beds RV Street Name Suburb SOLD Beds RV

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