We know its important to keep you abreast of the latest Real Estate figures for Marlborough. So, we’re sharing an article that we’ve just published in our Spring Preview Magazine with all the latest information.
Latest Real Estate Figures for Marlborough:
The Real Estate Institute of New Zealand recently announced their market update for July 2019. While the number of residential properties sold across New Zealand during that month increased overall by 2.5%; Marlborough hit record highs.
The Marlborough region recorded some robust real estate figures. With an annual increase of 13.7% in sales volumes during the month of July. This figure was the highest recorded for any July over the last three years.
While feedback from some parts of the country shows a reluctance among homeowners to list their properties for sale, we appear to be bucking that tend in Marlborough. Here, the market remains buoyant, with July seeing an annual increase in listings, up by 13.1%.
The Marlborough average median price across the months of May, June and July is $429,211.
The planned removal of tax advantages for losses on investment property will put a renewed emphasis on investing profitably. The good news is that, with data pointing to a rise in rents and yields, the arithmetic for landlords is improving.
The Bayleys research team in Auckland have crunched the numbers. Identifying ‘sweet spots’ where Kiwi landlords can earn enough rent to cover the mortgage repayments for a residential investment property.
Based on localised data from QV.co.nz*, they worked out the required repyments on a home loan to buy the median-priced property in Blenheim. Then checked if the local median rental income would cover the repayments.
In the heart of Blenheim, you’ll have almost $70 to play with once you’ve paid the weekly mortgage bill of $301 on a $390,000 rental property.
You can always count on Bayleys Marlborough to bring you the latest real estate figures. If you’re thinking of selling or buying in the region, do contact us.
*Based on localised median E-valuer estimates of property prices and median rents. Repayments were calculated using the mortgage calculator at Sorted.org.nz, assuming a 30 percent deposit, a 30-year home loan term and an initial two-year fixed interest rate of 4 percent.