Bounce Spring 2014
my News
We’re excited to announce The Guardhouse has done its dash and we are looking to expand into new premises!
The move happens later this year, and you will all be advised of the shift. My Valuer is a proud supporter of the HB MTB Club, and recently contributed to the construction of Escalator, which leads to Grand Traverse.
If you haven’t been out there yet…get out there…the tracks are great for all levels of riding ability. The transformation of My Valuer from a start-up in 2010 doing mostly residential, to being a major provider of valuation services across all sectors has meant specialist niches being developed within the business.
Andrew White and Paul Bibby are focused on the commercial and industrial sectors, with Paul also being a specialist in the motel sector. While Andrew Chambers is building our primary sector platform, servicing an array of clientele in all areas.
my Residential
This can hardly be described as a thriving market at the current time, though it hasn’t all over been entirely bad either.
While we seem to say the same thing time and again, the adage is that good property is selling well. my Lifestyle We have seen evidence of multiple offer situations occurring, particularly where properties have already been renovated/refurbished.
The lack of first home buyers in the market has impacted the cycle of transactions through the various price sectors. Whilst the banks are saying they have money to lend, there appears to be a disinterest from first home buyers to enter into the market.
This has impacted on the volume of sales considerably.
my Commercial
Hawkes Bay’s commercial/Industrial sector has seen an increased level of interest from out of town investors, particularly those coming out of the competitive Auckland market.
Many of the Auckland investors in the industrial sector are looking for the A-grade properties providing 8-8.5% net yield returns. A contrast to 12 months ago when yields were certainly leaner in this sector.
Recent sales include:
- Halls Transport selling for $2,060,000 plus GST on a 8.79% yield, with 12 year WALT. G&H Training (below) selling for $1,550,000 on passing yield of 8.39%, with 6 year WALT.
- PGG Wrightson on Omahu Road (below) selling for $820,000 reflecting inherent development opportunity with adjoining 1,000 square metre site, and reflecting a net yield of 7.65%.
-
Total Food Equipment sold in June for $1,300,000 reflecting a net yield of 8.54% on a 5-year unexpired lease term.
my Lifestyle
Lifestyle property purchasers are focused on locations within a short commuting distance to the main centres and offering unique features such as views.
Land values have stablished as the supply of vacant sites has tightened and building activity has increased.
Lifestyle sales in the Napier and Hastings District areas have ranged in price from $185,000 to $4,006,000 reflecting a median sale price of $650,000.
