WHAT IS HAPPENING TO THE PROPERTY MARKET? Bumper Issue, packed with loads of new listings WHAT’S BEEN SELLING

Welcome to Preview March 2012

A utumn is upon us, the days are still warm, but the mornings are getting darker and its getting easier to get the kids to bed at a reasonable hour, as its not quite so sunny at around 7pm.

The Property market in Nelson is still gaining momentum with houses selling with multiple of-fers featuring on a regular basis. The cover property from last time, 219 Westdale Rd, is a good example. Only two weeks on the market, two open homes, seven groups through and two offers! Eventually selling for 18% above the current rateable value. Interest at open homes is rising, so if that’s an indication of buyers getting ready to purchase, then things could really hot up. Commentary from the experts is predicting another real estate bubble , albeit not a large as 2004-2007, but with the predicted OCR rate to drop once more, it should make for good in-vesting in property once more. In this issue I am showcasing even more stunning properties that are new to the market. Have a look, and if anything catches your eye, please click on the link and I’ll email you a copy of our comprehensive Property Information Memorandum (PIM) to you. Preview is the Registered Trademark of Bayleys Realty Group This e-Abode Preview is the newsletter of Greg Monahan Licensed Real Estate Agent REA-Act2008 Greg Monahan Lifestyle and Residential Property Specialist Bayleys Nelson 288 Trafalgar St Nelson, NZ +64 21 851 916 cell +64 3 546 9455 business greg.monahan@bayleys.co.nz www.gregmonahan.bayleys.co.nz

Skype name: gregmonahan

Viber contact: 021851916 Facebook: Greg Monahan - Bayleys Real Estate, Nelson, NZ

Cover photo: 12 Aratia Way, Richmond

9 Moorhouse Ave, Nelson

Wow, this is simply stunning!

Rarely does a property of this calibre come to the market in this location - and now is your opportunity to own it! Strategically positioned to maximise panoramic views across the city to the sea, this stunning architect de-signed residence is guaranteed to impress. Set amidst private 6526m² landscaped grounds rich with native trees and birdlife, this 475m² residence is designed to serve your family’s every desire. Offering four to five bedrooms and three bathrooms - including a spacious master with a luxurious dressing room and ensuite, the retreat offers a range of living options to cater for the needs of a large family group, with good potential to comfortably accommodate long term visitors. Two bedrooms and a second living area on the lower level have their own entrance and facilities, so could easily be adapted as separate quarters for extended family or friends. This is a true MUST SEE Property! For more information click here

14 Melrose Terrace, Nelson

Dress Circle Dilemma Our owners of 14 years will certainly miss the convenience of this address – but they are now fully commit-ted to achieving a sale so they can relocate to the new home they have already purchased. Their immaculately presented Ian Jack residence offers quiet seclusion in one of Nelson’s finest streets - situated on a sheltered and elevated 927m2 rear site, with spectacular views of the sea and the city by day and night. Designed to satisfy family living with spacious sunny open plan areas, an entertainer’s kitchen with walk-in pantry, four bedrooms, walk-in wardrobe, two bathrooms, NCC approved log burner, underfloor heating in the kitchen/dining area, and solar heating. . For more information click here

436 Cissy Bay Rd, Hallam Cove, Marlborough Sounds

Tranquil Paradise Live the dream lifestyle with this modern eight year old, three bedroom home, located on the rise beside the foreshore, at one of the Marlborough Sounds more desirable locations. Boaties, fishers and divers will love the ability to boat on the safe internal waters of the 'sounds' and fishers' will revel in the closeness with which they can fish in open waters of the d'Urville fishery. This is your chance to own a low mainte-nance holiday or permanent dwelling, in one of the best spots in the bay...just look at the views! For more information click here

75 Teal Valley Rd, Hira Peaceful, Tranquillity and Two Dwellings on One Title Located in a tranquil rural setting, within 15 minutes’ drive of the city centre, this unique , and potentially sub-dividable, 5 hectare property comprises a charming, two level, four bedroom family home, in a glorious garden and bush setting as well as a separate, single level three bedroom house with a double garage, flat lawns and easy-care gardens which would be ideal for elderly parents or extended family. Tucked into a rise, high above the surrounding countryside, the family home has been positioned to maximise the sun and views. The outlook extends across lawn and lush gardens or sweeps over a large tract of native bush, before extending up the Teal and Lud Valleys to bush and forest-clad hills and the Doubles beyond. The only sound is the song of native birds and water cascading along the river below. It is an ever-changing panorama, which can alter dramatically from a sunlit landscape to a spectacular Nelson sunset. For more details click here

136 Teal Valley Rd, Hira

House + Cottage - 20 Mins to Town Set in 3ha of undulating pasture, with park-like gardens and magnificent rural views, the property comprises a modern three double bedroom home, plus a separate, totally self-contained two double bedroom cottage - ideal as accommodation for family and friends. Large Rimu kitchen, ducted heating/air conditioning throughout, sheds, small orchard, chook house, duck pond, all day sun. To view this 'must see' property, call me today. All reasonable offers considered For more details click here

37 Thompson Terrace, Toi Toi, Nelson

FIRST HOME BUYERS OR INVESTORS Way up high, at the top of Thompson Terrace overlooking the Grampians is a charming 1960’s weatherboard home with three good sized bedrooms and a very large basement (with heaps of potential). There is plenty of off street parking for two cars and a trailer, along with a very large 954m² section for the pets and children to explore and run around on. All of this and it’s in a nice quiet neighbourhood. With its extended views over the city, this home offers first home buyers or investors a great opportunity. For more information click here

3/251 Bridge St, Nelson

Bulk Buyer’s Bargain – Must Sell Astute buyers would be wise to not buy any other unit in Nelson before our auction day. With 3 bedrooms and a floor area of 140m2, this unit has more space than some houses, and offers an exceptional buying opportunity when compared with other units for sale in the area. Fully renovated with modern décor, no grounds to look after, a lock-up garage, and just a short stroll into the city – all make this the perfect ‘lock and leave’, first home, or rental investment. For more information click here

14 Iwa Street, Mapua

Waterfront Excellence This very private waterfront retreat, in its park-like setting, surrounded by 2,638 square metres of lawns studded with magnificent trees, lush gardens and an extensive walled courtyard, swimming pool, deck and jetty, has been de-signed to make the most of its exceptional coastal location. The views are spectacular as they extend over the estu-ary and Mapua channel to Rabbit Island, the Richmond ranges, d'Urville Island and Tasman Bay. The home com-prises four bedrooms and four spacious ensuites, elegant formal entertaining and plenty of casual living areas. For more information click here

220a Collingwood Street, Nelson

Chic City Retreat

When the chicks have flown the nest, this stylish home offers a private retreat just minutes away from cafes, award winning res-taurants, art galleries and of course the shops! Its north-facing position ensures all day sun and views over a courtyard, pergo-las and gardens to the tree-studded Grampian hills. Fully renovated and redecorated within the last twelve months including a new kitchen and bathroom, new wool carpet and curtains, it is now ready to move in and enjoy.This home oozes sensational style and its ultra functional living environment, provides the perfect platform to entertain guests or why not relax with a good book and a cool drink in the shelter of the private garden. The time for living is now, the ideal place to do it is here. click here for more info

12 Aratia Way, Richmond

Luxurious Family Living on a Grand Scale

From the road this 390 m2 Hebel and Titan board home is a display of clear lines and architectural appeal, set on a 1355 m2 section. Step inside and it gets even better - sophisticated interiors and beautifully designed spaces pro-vide effortless living with many outstanding features including cinema room, sleek glass encased stairs up to the master bedroom and studio, stunning kitchen complete with scullery and under floor heating throughout. Large stacker doors open wide allowing you to step out into the comfortable and sheltered outdoor entertainment area, with two built-in BBQs surrounded by an outdoor granite bar top, set amongst idyllic easy care gardens com-plete with spa. This home is a brilliant entertainer but also a very comfortable environment for your family’s enjoy-ment. For more information click here

7 Cambria St, Nelson Own Your Own Life in Your Gorgeous Cambria House B and B Today we present a rare opportunity to drive your own destiny in a spacious gracious landmark Nelson residence now beautifully crafted into a discreet live-in premier B & B just four minutes amble from the CBD. As economic cycles come and go you'll be busy through Nelson's famous spring, summer and autumn seasons and then off for a well earned prolonged holiday over winter. Romantic owner's rooms upstairs above six luxuriously appointed double bedrooms, dining, office, farm-house kitchen and lounge rooms below. Sold as a well known and favoured going-concern with repeat and forward bookings filling fast, Cambria House may be your best chance in years to get off the corporate ladder or out of whatever you're doing now into a new life style with total control of your own future. For more information click here

Blue Chip Princes Drive, Nelson Bay Side High Life An unassailable blue-chip site on the Port Hills above Tasman Bay with the treasury of Nelson’s famous water-front are laid at your feet. For your pleasure a sweeping vista gathering everything between Tahunanui Beach and the Light House on the longest boulder-Bank on earth, each day heralded by magic sunrise, topped with every glorious sunset. Turn-key convenience and the assurance of a fully modernised feature-rich home for the aspirational. Three bedrooms (all with water views), two bathrooms (master ensuite), For more info on this property click here

63 Marsden Valley Road, Stoke

When Piece of Mind is Important This much loved lifestyle property, in its tranquil 5.5 ha setting, has remained in the same family for almost forty years. The grounds are superb and the air is alive with birdsong. Bordered by council reserves and surrounded by magnificent trees, gardens and pasture, the quiet secluded home enjoys all-day sun, unobstructed views and private living. The home’s location, central to all amenities, is immensely appealing with both Richmond and Nelson within a ten minute drive. This is a lovely, light and airy home, with the main living areas combining to open up the house to cooling breezes in summer to create a spacious environment for indoor/outdoor living and entertaining. For more information click here

Lots 1 - 8 , Wairangi Bay, Marlborough Sounds A place where dreams can be made to come true. Once in a while, and not very often, you get an opportunity to craft your dream setting, your dream bach or holiday home, from a clean slate. This is one of those opportunities! On the gently sloping flats, at the head of Wairangi Bay in the Croisilles Harbour, there are now available for the first time, eight very generously sized sections available for you to purchase and build your dream holiday home. The access road to Wairangi Bay is excellent, each section has fantastic vistas of the bay, Power water and telephone will be to the sites. Don’t miss this opportunity to create your dream in paradise. Lot 1 - 7163m², Lot 2 - 7313m², Lot 3 - 6629m², Lot 4 - 6678m², Lot 5 - 7592m², Lot 6 - 9223m², Lot 7-8846m², Lot 8 - 2.3454ha For more information and price on each lot, please click here

Montebello, Stoke, Nelson

A Unique Parkland Lifestyle House and Land packages available. These spacious sections range in size from 545m² to 865m² and are priced from as low as $195,000. Montebello isunquestionably the most beautiful and natural subdivision avail-able in Nelson today. Let us help you through the build process and put you in touch withthe right people. Peo-ple that others have had great success with. For more information on these beautiful sections and to see what makes them so special call me today. For Sale from $195,000 For more information click here

21 The Cliffs, Nelson

Location and Views Location, sun and views are everything when buying a home and this unique property has it all. Built in 1980 on a ridge in a prestigious area, high above the waterfront, the north-northwest facing, 400m², four double bedroom home features generous indoor and outdoor entertaining areas, including a huge games room, mas-sage room and sauna, and a four car garage. Within walking distance of Nelson’s popular waterfront restau-rants and a comfortable stroll from Tahunanui beach. The views are mesmerising as they sweep across the waterfront, and the long curve of the Western ranges. Low maintenance, 630m² grounds include easy-care gardens, a small rear lawn and a spacious, terracotta ceramic-tiled courtyard and outdoor dining area, sur-rounding an 8x4m, in-ground concrete salt water swimming pool, which extends along the seaward frontage. For more information click here

11 Albert Road, Nelson Sun, Sea and Serenity This 314 square metre seven year old residence is bathed in sunshine and has breathtaking views of Tasman Bay, The Cut and beyond. Clean lined, contemporary and low maintenance it is well suited to professionals and families with teenagers. Three generous double bedrooms are well separated for privacy and there is a separate studio downstairs for guests or rental income. Underfloor heating in all tiled areas, heat pump, cedar and con-crete block exterior cladding with 9mm Harditex and Fosrock Plaster, roof - Coloursteel and Dexx Equus, alumin-ium with double glazing to most windows. The grounds have been extensively landscaped and choice of plants ensures minimal upkeep. A truly special home in a breathtaking setting in Nelson's dress circle. For more details click here

300 Pomona Rd, Ruby Bay The Ultimate Country Estate This is a brilliantly crafted home possessing a unique ridge-line position offering almost 360 degree views with vistas including Mount Arthur and its surrounding mountain ranges as well as a seascape of Tasman Bay reaching across to Nelson city, The Glen and D'Urville Island. Set amongst verdant pastures, it also encompasses three rental properties plus grazing income from the 14 ha (33.6 acres). The outlook is one of the most spectacular in the Tasman Bay region, and is enhanced by the charming outdoor living areas, heated in-ground pool, and spacious pool house. The near new home has the classic design of an English country lodge on the exterior giving forth an aged feel of another era with modern contemporary interior that also highlights some traditional pieces. Central heating, log burner and double glazing ensures this is a perfect home for all seasons, and the internal double garage is enhanced by additional garaging external to the house. The land lends itself to a variety of agricultural, lifestyle or horticultural activities, and there is a water right that will benefit any such use of this rolling, arable land. Click here for more details

3D Hill Street, Richmond

A Stunning Lifestyle Environment With Dramatic Living Spaces

This 1.7 ha home offers space on a grand scale on the northern edge of Richmond, where the privacy is absolute. Simply imagine long summer afternoons at the edge of the pool, or on a winter's afternoon, bathing in sunshine in front of the large windows while you snuggle up to a hot drink and a good book. Privacy, space and sundrenched outdoor living areas will be yours to enjoy in this unique slice of para-dise. Here is the permanent blend of nature, quality and style existing in total harmony. This home was built, (and more recently extended and renovated), with quality in mind in tune with its environment. Features include three car garaging, a large shed for the boat or other hobbies, five bedrooms and two additional bathrooms, multiple living spaces and the safety and freedom for your children to take full ad-vantage of this very private and tranquil home. For more details click here

738 Atawhai Cres, Nelson Stylish Charactor

If you have ever yearned for a home with sea views, polished floorboards, a very stylish interior, parking for plenty of vehicles (including a pit in the garage), a rumpus room and four bedrooms, as well as even more rooms off the very large internal garage, then this beautiful family home is a must see. Set amongst 1,482 square metres of well estab-lished trees, lawn, terraced gardens, decks and patios, this sunny sheltered home faces northwest to enjoy all-day sun and glorious estuary, sea and mountain views. This newly redecorated and refurbished home offers so much more than one might think. The fantastic use of colour and the natural polished Rimu floors create a real feeling of character and warmth. More details click here

7 City Heights, Nelson

Grand Views over the City You’ll feel you are living on your own special hill, in this four-bedroom, contemporary home with views as far as the eye can see, from the Maitai Valley to the east around to Nelson Haven, the Marina, and Tasman Bay and the west-ern mountains beyond. This light-filled home of 259 m2 is, individually modelled to meet the owners’ requirements, and has a seven year master builder’s guarantee. It is designed so there is a view from every window, to take full advantage of its select position on City Heights, one of Nelson’s prestigious hillside subdivisions. There are only a few neighbours, well apart from one another, in homes of similar quality. As well as the grounds, the home has an emphasis on maintenance-free living, with the use of composite decking materials and a plaster finish cladding. More details click here

New Zealand's longer-term fixed mortgage rates are tipped to start rising as local banks find their wholesale funding costs going up amid an improving US economic outlook.

In the last month global investors have begun selling down their holdings in safe haven as-sets such as US Treasuries, on the back of improving US economic data including better- than-expected employment and retail sales figures.

That has seen yields, or the risk premium de-manded by investors to hold a bond, rise. Inter-est rates on 5-year US Treasuries recently reached 1.112 per cent, near their highest level since October.

That had implications for yields on equivalent-dated New Zealand bonds because they tended to move in tandem, Christian Hawkesby, head of fixed interest at Harbour Asset Management, said. On top of that, the interest rates at which banks could borrow money tended to be influenced by long- term global interest rates.

"So to the extent that the US is leading the march higher you tend to expect wholesales rates to follow suit, and then eventually for those increased costs to be passed onto fixed mortgage borrowers," he said.

The yield on the New Zealand 5-year government bond recently traded at 3.805 per cent, near a five-month high. ANZ National, ASB, Bank of New Zealand, Kiwibank, and Westpac all offer 5-year fixed mortgage rates of 6.9 per cent a year. Those rates are broadly tipped to rise as the US recovery gathers steam.

Speaking at the close of the latest Federal Open Market Committee meeting last week, Fed Chairman Ben Ber-nanke acknowledged "moderate economic growth" ahead, an improvement on the "moderate expansion" seen in January, although risks still persisted.

"While US 10-year Treasuries were at 2 per cent and [expected] to remain there for a long period of time, inves-tors had an incentive to scour the world for places perceived to be low risk," explained Hawkesby. "But in an environment where global interest rates are heading north, that incentive is lessened because you can get that at home."

The message from banks on whether to lock in rates has been mixed.

Westpac chief economist Dominick Stephens recently urged customers to consider fixing for terms between 2 and 4 years, while ANZ economist Cameron Bagrie suggesting a wait- and-see approach, pending further signs of an improving macroeconomic picture.

US ECONOMY LIKELY TO PUSH NZ MORTGAGE RATES UP STUFF.CO.NZ 20/3/12

Sluggish economy will keep interest rates on hold The Reserve Bank will keep interest rates on hold until December, if not the middle of next year, some economists say, after the economy slowed to a crawl in the December quarter. The economy grew just 0.3 per cent in the December quarter with a boost from the Rugby World Cup and a good grass growing season for dairy farmers, offset by a bigger than expected fall in manufacturing, es-pecially for meat processing. However, that was largely due to a delay as farmers held stock on the land back because of good grass growth, and so there is likely to be a rebound in coming months, with the latest manufacturing survey pointing to a strong lift. The result was well shy of Reserve Bank and market forecasts of 0.6 per cent, although economists still expected a modest recovery, with a boost from rebuilding in Christchurch later this year. The New Zealand dollar fell about half a US cent on the latest GDP figures, pushed down further after news that Chinese manufacturing sector fell back for the fifth month in a row. A slower Chinese economy is seen as a negative for New Zealand and Australian exports. The kiwi traded late yesterday at a seven-week low of US80.80c, down 70 basis points from US81.50c. While sluggish, economists said New Zealand was faring better than many other economies around the world, which should underpin the New Zealand dollar in coming months. With the economy barely growing and low inflation economists say there is no urgency for the Reserve Bank to lift official interest rates any time soon. That means floating mortgage rates, now as cheap as 5.65 per cent, are expected to remain low this year. NZIER principal economist Shamubeel Eaqub said outside the rugby tournament and a good dairy sea-son: "There is not much momentum in the economy at all". "We are past the worst of the recession, but the recovery from here is slow because we are still paying down debt and businesses are not borrowing to invest," he said. Dairy production was going "gangbusters" for farmers, but the pass through from that to the rest of the economy was slow. As for the year ahead, Auckland was getting a bit of steam up, with migration from Christchurch and from overseas, but the rest of the economy would see a shallow recovery. "Wellington is going to be really tough for government reasons, more than anything else," Eaqub said. ASB Bank economist Christina Leung said the Rugby World Cup had boosted retail sales and other ser-vices. More recent signs had been "pretty encouraging", especially the surge in manufacturing confidence, sug-gesting the sector would see a decent rebound early this year, after a sharp fall in the December quarter. As well, the housing market was starting to improve, with higher sales volumes which would tend to lift sales of things like furniture and appliances. DECEMBER QUARTER Gross domestic grew 0.3 per cent, less than the 0.6 per cent most banks forecast. Key drivers in the quarter: Agriculture: up 3.5 per cent because of an increase in milk production after a good grass growing season. Retail, accommodation and restaurants: up 2.2 per cent in the quarter, reflecting the impact of the Rugby World Cup. Finance, insurance and business services sector: up 1.3 per cent. Manufacturing: down 2.5 per cent in the quarter, after a fall in primary sector manufacturing. Annual growth 1.4 per cent. Source; Statistics NZ - © Fairfax NZ News 23/03/2012

Weekly home loan approvals top 7k for 1st time since September 2009 and reach highest value -

NZ$1.165 billion - since April 2009 Posted in Property March 22, 2012 - 04:02pm, By Gareth Vaughan

More home loans were approved last week than in any week since September 2009 with the weekly value the most since April 2009, Reserve Bank data shows. The Reserve Bank says 7,034 mortgages were approved in the week ending March 16 valued at NZ$1.165 billion.

The last time more than 7,000 mortgages were approved in one week was 7,092 in the week to Septem-ber 4, 2009. The last time the weekly value was higher was when NZ$1.346 billion worth of mortgages were approved in the week ended April 3, 2009.

The rise in mortgage approvals comes with the Real Estate Institute of New Zealand saying last week there were 6,168 houses sold in February, up 51% from the volume sold in January and up 37% from February 2011. It was the strongest February for sales since February 2008.

However, despite being strong by recent standards, last week's mortgage approvals figures are down on those recorded in the equivalent week of 2007. In the week to March 16, 2007 there were 11,116 mort-gages approved valued at NZ$1.542 billion. That week fell during a run of 19 out of 20 consecutive weeks where the value of approvals topped NZ$1 billion with the NZ$1.542 billion of approvals the high-est weekly value since the Reserve Bank started tracking the data in October 2003.

By volume, the highest number of weekly approvals was the 11,193 in the week ended December 15, 2006.

Meanwhile, last week's figures were up 17.9% by volume and 40.1% by value annually, based on a com-

parison of the most recent 13 weeks of data to the same 13 weeks last year.

The Reserve Bank defines a mortgage approval as a firm commitment to provide credit for the purchase of housing, which has been accepted by the borrower. It says a commitment exists once the home loan application is approved, and a loan contract or letter of offer has been issued to the borrower. Seven banks respond to the Reserve Bank's survey, between them representing 99% of registered bank lending for housing, and about 94% of total housing lending. Included in the data is the refi-

nancing of other banks custom-

ers, any loan where the security

changes, and any loan where

the liability holder changes. Ex-

cluded is own customer refi-

nance, business borrowing

where the security is the

owner’s home, and when the

underlying value of a loan is

“topped up," with only the

topped up portion included.

"How to Quickly and Easily Sell Your Home at Top Dollar"

If you are thinking about selling your home soon, or know some-one how might be, then this book is a must have! In all my years of buying and selling houses, I have had dif-ferent tips given to me, assisting me to get the very best possible price for my property . So in November of 2009 I pub-lished a book that encompasses all of those tips and many, many more. A "how to" book that simply covers everything you need to know, from what to clean, what to paint, what to throw away and how to "dress" your house like the professionals. It also covers the need to employ a real estate agent or not. My book is available to buy at selected bookshops, but as a bonus, I will give a complimentary copy to the first ten (10) abode readers from this issue to contact me and simply ask for a free copy. please call me on 0800 BAYLEYS (0800-229-539) or email me greg.monahan@bayleys.co.nz if you would like a free copy.

What's sold since last months newsletter...