Tommy's Lifestyle Blog
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A perfect storm of factors is softening Wellington House prices | Wellington Market Update | March 2022
Everything, from COVID to inflation to lending policies, is impacting the market, Tommy’s Real Estate Sales Director Nicki Cruickshank says. “The level of COVID in Wellington has made the city feel like a lockdown over the past couple of have weeks and numbers been well down at open homes, but we expect this to improve in the coming weeks.
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Useful tips for home buyers and sellers in a turbulent year
Real estate is often “top of mind” with large sections of our populace and is certainly a topic that gets more than its fair share of media attention. In a nation where homeownership is the goal of most people this is hardly surprising though we are at times, receiving mixed messages about the market. We are constantly getting advice, opinions, [...]
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The cyclical nature of the Wellington property market
In our fortnightly blog posts and articles in our magazine, Tommy’s has attempted to offer worthwhile real estate news and articles of real estate interest to home buyers and sellers continuously since 2006. We trust that we have been successful in this quest and that our client base has found these articles informative. Regular readers [...]
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A time of change | Higher levels of housing stock and lending rules impact on the market
If we learned nothing else last year, we certainly learned how to adapt our customary business practises to accommodate the ever-present threat of Covid-19. The entire business community has had to abide by stringent rules to protect both clients and staff from the spread of Covid – a responsibility that we have accepted, and we [...]
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Tommy’s Real Estate COVID-19 Policy: Red settings of the traffic lights (COVID-19 Protection Framework) system
Tommy’s Real Estate COVID-19 Policy We remain committed to providing our clients with the best service possible during the COVID-19 pandemic. We have comprehensive COVID-19 Protection Framework & Business Function Controls that will enable us to continue to operate effectively while keeping our clients and people safe. Our priority is the safety and well-being of [...]
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Advice for home buyers and sellers in the wake of the recent Credit Contracts and Consumer Finance Act changes
Real estate must surely rate as the most talked about topic in all forms of the media and in recent times there has been plenty to talk about. We have witnessed prices escalating at unprecedented rates in a market fuelled by cheap finance, an under supply of stock and a banking system that has been [...]
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Newsroom , Real Estate Insights
New lending rules are causing problems | Wellington Market Update | January 2022
You would think fewer buyers, more listings and flatter house prices would make it easier for people to buy their first home this year. But it could be harder than ever because of tough new lending rules that are stopping even buyers with sound credit histories from getting a mortgage. “It is difficult to predict [...]
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Newsroom , Real Estate Insights
Buying is tougher than ever with new lending rules | Wellington Market Update | December 2021
Do the new rateable values accurately reflect what Wellingtonians can expect their homes to sell for? The Wellington City Council reports the average value of residential housing in the capital has leapt 60.4 per cent since 2018. The average house value now sits at $1.435 million and there’s not a single suburb where the average [...]
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Reflecting on 2021 and the current market trends
As the curtain falls on 2021, it is an appropriate time to look at the year in retrospect, to reflect on the real estate market and the factors that have made it a year with a difference. Many of us will be diverting our attention towards Christmas festivities, family time and holidays after what has [...]
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