A business built on genuine care
Founded in 2004, REAL Property Kerikeri has gained a reputation for outstanding results over the last 20 years. As market leaders in the area, the key to our success is a combination of genuine care, professional integrity, in-depth local knowledge and a highly personalised approach that delivers the best outcomes for clients.
You can be sure that the care for our clients is always at the centre of everything we do, because real estate is about people as much as places. Whether you’re looking to buy or sell property in the Kerikeri area, you’ll notice the ‘Real’ difference immediately. Each client benefits from the expertise and contacts of our entire team of specialised local agents, working together to achieve the best result. It’s more than our job, it’s our passion, and we take pride in delivering exceptional service that goes above and beyond.
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Meet your Team
As the trusted advisors for hundreds of repeat customers over the years, we have built a community based on long-lasting relationships. Talk to our friendly, professional team for no-obligation advice about your property interests today.
What Our Customers Say
Very professional and personable
Vince was extremely helpful during the whole process of purchasing my property. Always responded promptly to my many queries. Very professional and personable.
Nothing was too much trouble
Terri is the perfect balance of professionalism, adept understanding of the legal/financial requirements and Kerikeri charm! Nothing was too much trouble for us 'out-of-towners' to purchase. She met us at the airport, showed properties to meet our brief and followed through with excellent communications. We are very happy customers and purchased a great house with no fuss. Terri is highly recommended. Jennifer Looman
Fantastic Agent
Fantastic Agent Pete has been absolutely amazing and always went the extra mile which was a godsend as we were living out of town. Pete has great knowledge of Kerikeri and the market and was transparent with us through the whole process. We would highly recommend Pete and the team at REAL Verified by RateMyAgent
Finding a new home in Kerikeri
Jenny found the Real Kerikeri Team a delight to work with when looking for a new home from outside of town.
Latest News
Stay up to date with our latest market updates and property news
Market Update: February 2024
A busy start to the year! It has been a surprising start to the year for us, with massive numbers of appraisals and new listings, a slow but steady increase in buyer enquiry and a fair amount of time advising and reassuring vendors that things will get back on track. We have recorded 16 conditional sales in February but more than half of these rely on other sales chains to complete. 75% of these are under $1million. Looking back REINZ reported 12 unconditional sales for January compared with 14 in December. This is a result of the typical lower levels of buyer activity in December leading up to the Xmas period. The outlook for February at the time of writing this report looks similar to January. Record numbers of new listings and appraisals On the reverse side, the number of appraisals and new listings coming onto the market so far this year has broken all records. The paralysis caused by the uncertainty leading up to the election, the delays with forming a government and then Xmas has led to a herd of sellers coming to the market at once. Consequently, inventories have shot up with latest numbers approaching 400 listings on TradeMe up from 340 just a few months ago. This is good news for buyers and sellers. It provides more choice for buyers than they had previously except in the lower price brackets where inventory is still slim. In time, it stimulates more activity across the whole market. More inventory and fewer buyers are shifting the higher price brackets firmly into the buyer’s market category. Inventories in the over $1million bracket would take over 2 years to clear at current sales volumes and motivated vendors with deadlines are seeing the writing on the wall and reducing asking prices to meet the market. Price outlook Our feeder markets are showing signs of an upswing with Auckland prices on the rise although sales volumes are still relatively low and 70% of auctions are being passed in. Most economists are predicting that the higher interest rate levels will continue to hold the New Zealand property market at bay for at least the next 6 months of 2024. Our observations are that most of our buyers are planning to make a sideways move to Kerikeri from another area or wish to downsize. Only a few are looking to upsize. This is a sign of our economic times in New Zealand. At our current price level, even people from many Auckland suburbs find it hard to move here and release equity to live on as they have been able to in the past. Until the price differential widens again (either increases in our feeder markets or further decreases here) then some people may choose to move to more affordable parts of the country. With the majority of buyers looking to downsize, the higher demand is for lower priced properties resulting in lower inventories and leaving high inventories in the higher brackets where demand is lower. First time homebuyers remain mostly non-existent which ties to our higher than NZ average prices, lower than average wages and a challenging lending environment. Investors appear to be sitting on the fence although a few seasoned, cashed up investors are starting to play their cards as opportunities present themselves. As reported in December, much of our sales activity depends on stimulus from Auckland and other centres. Usually a major shift in these markets takes 3 to 6 months to impact on ours. We watch with interest as these markets change over coming months....
Market Update: December 2023
It’s no secret. Kerikeri and the Far North are on track to experience one of the lowest volumes of open market real estate sales in a calendar year for 20 years. Average timeframes to sell have quadrupled since the peak of 2021 and unless you are the top one or two value propositions in your price bracket, you are going to have to sit it out and wait longer until the buyer who just loves what you have on offer comes along. It’s no wonder some vendors are losing patience and asking where are the buyers? The quiet period after the Global Financial Crisis from 2008 to 2010 saw similarly low numbers but that was when the town was much smaller, accentuating the poor results of this last year. So, what’s behind the slow down? [button text="Sign-up to receive the latest Market Update straight to your inbox" link="https://www.realkerikeri.co.nz/newsletter-sign-up" target="_blank"] 1. Normal cyclical correction to the extraordinary hype of activity in 2020 to 2022. The Covid bubble drove property sales activity and prices in Kerikeri to unsustainable levels. There had to be a correction, not just here but right across the country. Kerikeri median prices have held up well, so far, dropping around 10%, compared to other markets where prices dropped 20 to 25%. This makes Kerikeri’s prices more expensive for people planning to move from other areas and could give them reason to pause their plans or look at other attractive provincial towns, until the gap closes again. We are hearing about prices rising in Auckland and Wellington so the gap is already starting to close. 2. Section sales are way down to their lowest levels on record. The appetite for building new homes dropped away because of escalating land costs, construction costs, compliance costs and challenges with the supply of materials. All this uncertainty means that people have favoured staying where they are and renovating or buying an existing home versus building. 3. The rise of the retirement village. Over the last four years there has been a significant rise in retirement village house package offerings at reduced prices to the open market on a license to occupy basis. There is no doubt that people choosing these packages over open market homes has resulted in lower sales volumes in the open market. However, we understand that even retirement village sales are significantly slower in 2023 than previous years. 4. Fewer people moving to Kerikeri. People often say to us they move to Kerikeri for the warmer climate, the accessibility to Auckland and the lifestyle offered with boating in the Bay of Islands and access to Far North beaches. Unusual, severe weather patterns and road closures have put a damper on all of these over the last year. The normal flow of people travelling to the north to visit or in search of a new home has been disrupted. Boats have sat in safe harbour for most of the year and the weather has left many of us wondering if we should be renamed the summer-less north. For those worried about catching up with the grandkids in the city, this recent spate of weather has presented hurdles they were not anticipating. Additionally, slower growth in the construction sector has meant that fewer “tradies” have moved into the area than during the construction boom of the last few years. Last, but not least, most people need to sell elsewhere before they move here. If sales are slower where they live, then the result is things slow down for us here. That’s the market in a small provincial town when you rely heavily on inward migration for growth. Typically, these trends are temporary. Once our feeder markets pick up, roads are open permanently again and weather patterns settle back down people adapt and life gets back to normal. The recent change of government offers a glimpse of hope as policies come into play that favour the property market across New Zealand. However, it takes time for these policies to be implemented and have an effect. The first positive signal of change is the number of new listings across the country rising by an extraordinary 20% over the last month. People who had put their plans on hold leading into the election are finally acting. It is simple maths, that the more properties on the market, the more people will move around, and some of them will start to look at moving here again. Vendors can try various strategies to sell more quickly in the current market such as increasing their exposure through higher marketing budgets, or lowering their prices to be more competitive, or spending more money on their properties to make them more attractive or even changing their agency. All of these come at some additional cost, and none are guaranteed to bring a better result unless you are prepared to give your property away. The fact is that buyers are not coming as fast as they were. This is the nature of a cyclical market folks and neither you nor any agent, no matter how clever or experienced they are, can greatly influence that. The truth is, it is the time to be patient, trust your agent to be doing their job, out there everyday promoting your property. The market is turning, the buyers are returning, your property will be sold. It’s just a matter of time. [button text="Sign-up to receive the latest Market Update straight to your inbox" link="https://www.realkerikeri.co.nz/newsletter-sign-up" target="_blank"]...
Market Update: September 2023
Auckland’s housing market is turning in time for the traditionally busy spring season, with prices climbing in seventy-six suburbs in the past three months. City prices spent more than a year tumbling from record-high values in late 2021 and are now beginning to rebound. While homeowners will be happy with the news, those wanting to enter the market may find rising prices an additional hurdle as buyers already grapple with soaring interest rates. New Zealand’s median house price took a more than $150,000 dive during a 15-month slowdown after the market peak in November 2021. Kerikeri’s median prices continued to climb until third quarter 2022 and the house price index for the Bay of Islands ward has now come back around 10 to 15% off the peak. The latest data from analysts CoreLogic gives the best indication that a rebound is now under way, chief economist Kelvin Davidson said. “Back in June, 71 suburbs had recorded a rise of at least 0.5 per cent in the previous three months. But spring forward to September, and that count has risen to 188,” Davidson said. Kiwibank chief economist Jarrod Kerr said the housing market was likely to pick up again now interest rates appeared unlikely to climb higher and migration had surged. “Putting a stake in the ground, saying this is the bottom [of the market], I think we can do that now,” he said. About 100,000 more people arrived in New Zealand over the past year than left. And while New Zealand had been in a building boom in recent years, construction had cooled in the past 12 months because of high building costs and falling house prices, Kerr said. “Every migrant that comes here either takes a rental or looks to buy,” he said. “So, we are going back into a situation where demand and population growth is outstripping supply. That is not good for affordability, it is not what we need, but that puts upward pressure on prices.” If the Reserve Bank begins lowering interest rates next year, that could further boost prices, he said. Stabilizing interest rates and strong net migration have long been key lead indicators of a market set to rise. Declining interest rates, whenever they come, are sure to push prices back up if accompanied by continuing population growth pressures from net migration. Generally, migrants seek jobs in the cities and once in a position to buy after their stand down period, can displace current city dwellers to the provinces. Strong migration from places like Auckland, Wellington and even Christchurch has led to Kerikeri’s extraordinary growth. A total of seventeen sales completed in Kerikeri during August down around 30% from July and about 40% from a year ago. Four of these were lifestyle blocks sold in late 2021/early 2022 which have been waiting for titles to come through. That is running a little under the monthly average of sixteen sales for the last 3 months. The election still has many people sitting on the fence whether selling or buying. Policies outlined by National, if put in place, could have significant impact on the feasibility of property investments versus other investment types and could open the higher end of the market to overseas buyers from countries other than Australia and Singapore. For our part we are gearing up for a busy summer by expanding our sales team, appraising properties, and advising vendors on how to get the best prices. It feels like the market is a coiled spring and we want to be prepared for the bounce back. Wayne at the head of our commercial arm continues to build momentum and offer advice to those looking to buy, lease or sell in the commercial and horticultural sectors. Pop in for a coffee and a chat or give any one of our team a call for free friendly advice. Follow these links for more information on the outlook for the property market and the economy. Economists see 'signs of further strength to come' in housing market Latest Tony's View - Tony Alexander (Economist)...
What is Yield?
The dictionary defines yield as “something that is gained in return from an input of goods or services”. From a property perspective yield is the value of the net rental income divided by the current property value, this is also known as the capitalisation rate. It measures the cashflow that you receive on an investment normally calculated on an annual basis. The capitalisation rate reflects the security or risk associated. Higher risk = a higher cap rate which also equates to a lower market value reflecting the shorter expectancy of the return. Lower risk = a lower cap rate giving a higher market value reflecting the expected longevity of the return. Cap rate also indicates the duration of time to recover the investment value so 6% takes 16.7 years but 10% will only take 10 years. Simply put if you want a quick return then likely there will be a higher degree of risk associated with it such as short-term leases, susceptibility to governmental changes or other external factors. The key to effective use of yield in your decision-making process is the stability of the income stream. Commercial leases tend to be relatively stable but future risks from tax changes, market influences and zoning changes all need to be taken to account. Generally as inflation pushes interest rates up the cap rates tend to increase as the risk factor changes although the cap rate tends to operate in a narrower range as supply and demand issues often mitigate this. We are currently seeing this happening in our markets now. Cap rates tend to range between 4% and 10%, as while below 4% is very secure, the length of time to recover the investment is too long for most investors. The opposite occurs when cap rates go over 10%, the return is good but the implied risk is often to much....
Market Update: February 2024
A busy start to the year! It has been a surprising start to the year for us, with massive numbers of appraisals and new listings, a slow but steady increase in buyer enquiry and a fair amount of time advising and reassuring vendors that things will get back on track. We have recorded 16 conditional sales in February but more than half of these rely on other sales chains to complete. 75% of these are under $1million. Looking back REINZ reported 12 unconditional sales for January compared with 14 in December. This is a result of the typical lower levels of buyer activity in December leading up to the Xmas period. The outlook for February at the time of writing this report looks similar to January. Record numbers of new listings and appraisals On the reverse side, the number of appraisals and new listings coming onto the market so far this year has broken all records. The paralysis caused by the uncertainty leading up to the election, the delays with forming a government and then Xmas has led to a herd of sellers coming to the market at once. Consequently, inventories have shot up with latest numbers approaching 400 listings on TradeMe up from 340 just a few months ago. This is good news for buyers and sellers. It provides more choice for buyers than they had previously except in the lower price brackets where inventory is still slim. In time, it stimulates more activity across the whole market. More inventory and fewer buyers are shifting the higher price brackets firmly into the buyer’s market category. Inventories in the over $1million bracket would take over 2 years to clear at current sales volumes and motivated vendors with deadlines are seeing the writing on the wall and reducing asking prices to meet the market. Price outlook Our feeder markets are showing signs of an upswing with Auckland prices on the rise although sales volumes are still relatively low and 70% of auctions are being passed in. Most economists are predicting that the higher interest rate levels will continue to hold the New Zealand property market at bay for at least the next 6 months of 2024. Our observations are that most of our buyers are planning to make a sideways move to Kerikeri from another area or wish to downsize. Only a few are looking to upsize. This is a sign of our economic times in New Zealand. At our current price level, even people from many Auckland suburbs find it hard to move here and release equity to live on as they have been able to in the past. Until the price differential widens again (either increases in our feeder markets or further decreases here) then some people may choose to move to more affordable parts of the country. With the majority of buyers looking to downsize, the higher demand is for lower priced properties resulting in lower inventories and leaving high inventories in the higher brackets where demand is lower. First time homebuyers remain mostly non-existent which ties to our higher than NZ average prices, lower than average wages and a challenging lending environment. Investors appear to be sitting on the fence although a few seasoned, cashed up investors are starting to play their cards as opportunities present themselves. As reported in December, much of our sales activity depends on stimulus from Auckland and other centres. Usually a major shift in these markets takes 3 to 6 months to impact on ours. We watch with interest as these markets change over coming months....
Market Update: December 2023
It’s no secret. Kerikeri and the Far North are on track to experience one of the lowest volumes of open market real estate sales in a calendar year for 20 years. Average timeframes to sell have quadrupled since the peak of 2021 and unless you are the top one or two value propositions in your price bracket, you are going to have to sit it out and wait longer until the buyer who just loves what you have on offer comes along. It’s no wonder some vendors are losing patience and asking where are the buyers? The quiet period after the Global Financial Crisis from 2008 to 2010 saw similarly low numbers but that was when the town was much smaller, accentuating the poor results of this last year. So, what’s behind the slow down? [button text="Sign-up to receive the latest Market Update straight to your inbox" link="https://www.realkerikeri.co.nz/newsletter-sign-up" target="_blank"] 1. Normal cyclical correction to the extraordinary hype of activity in 2020 to 2022. The Covid bubble drove property sales activity and prices in Kerikeri to unsustainable levels. There had to be a correction, not just here but right across the country. Kerikeri median prices have held up well, so far, dropping around 10%, compared to other markets where prices dropped 20 to 25%. This makes Kerikeri’s prices more expensive for people planning to move from other areas and could give them reason to pause their plans or look at other attractive provincial towns, until the gap closes again. We are hearing about prices rising in Auckland and Wellington so the gap is already starting to close. 2. Section sales are way down to their lowest levels on record. The appetite for building new homes dropped away because of escalating land costs, construction costs, compliance costs and challenges with the supply of materials. All this uncertainty means that people have favoured staying where they are and renovating or buying an existing home versus building. 3. The rise of the retirement village. Over the last four years there has been a significant rise in retirement village house package offerings at reduced prices to the open market on a license to occupy basis. There is no doubt that people choosing these packages over open market homes has resulted in lower sales volumes in the open market. However, we understand that even retirement village sales are significantly slower in 2023 than previous years. 4. Fewer people moving to Kerikeri. People often say to us they move to Kerikeri for the warmer climate, the accessibility to Auckland and the lifestyle offered with boating in the Bay of Islands and access to Far North beaches. Unusual, severe weather patterns and road closures have put a damper on all of these over the last year. The normal flow of people travelling to the north to visit or in search of a new home has been disrupted. Boats have sat in safe harbour for most of the year and the weather has left many of us wondering if we should be renamed the summer-less north. For those worried about catching up with the grandkids in the city, this recent spate of weather has presented hurdles they were not anticipating. Additionally, slower growth in the construction sector has meant that fewer “tradies” have moved into the area than during the construction boom of the last few years. Last, but not least, most people need to sell elsewhere before they move here. If sales are slower where they live, then the result is things slow down for us here. That’s the market in a small provincial town when you rely heavily on inward migration for growth. Typically, these trends are temporary. Once our feeder markets pick up, roads are open permanently again and weather patterns settle back down people adapt and life gets back to normal. The recent change of government offers a glimpse of hope as policies come into play that favour the property market across New Zealand. However, it takes time for these policies to be implemented and have an effect. The first positive signal of change is the number of new listings across the country rising by an extraordinary 20% over the last month. People who had put their plans on hold leading into the election are finally acting. It is simple maths, that the more properties on the market, the more people will move around, and some of them will start to look at moving here again. Vendors can try various strategies to sell more quickly in the current market such as increasing their exposure through higher marketing budgets, or lowering their prices to be more competitive, or spending more money on their properties to make them more attractive or even changing their agency. All of these come at some additional cost, and none are guaranteed to bring a better result unless you are prepared to give your property away. The fact is that buyers are not coming as fast as they were. This is the nature of a cyclical market folks and neither you nor any agent, no matter how clever or experienced they are, can greatly influence that. The truth is, it is the time to be patient, trust your agent to be doing their job, out there everyday promoting your property. The market is turning, the buyers are returning, your property will be sold. It’s just a matter of time. [button text="Sign-up to receive the latest Market Update straight to your inbox" link="https://www.realkerikeri.co.nz/newsletter-sign-up" target="_blank"]...
Market Update: September 2023
Auckland’s housing market is turning in time for the traditionally busy spring season, with prices climbing in seventy-six suburbs in the past three months. City prices spent more than a year tumbling from record-high values in late 2021 and are now beginning to rebound. While homeowners will be happy with the news, those wanting to enter the market may find rising prices an additional hurdle as buyers already grapple with soaring interest rates. New Zealand’s median house price took a more than $150,000 dive during a 15-month slowdown after the market peak in November 2021. Kerikeri’s median prices continued to climb until third quarter 2022 and the house price index for the Bay of Islands ward has now come back around 10 to 15% off the peak. The latest data from analysts CoreLogic gives the best indication that a rebound is now under way, chief economist Kelvin Davidson said. “Back in June, 71 suburbs had recorded a rise of at least 0.5 per cent in the previous three months. But spring forward to September, and that count has risen to 188,” Davidson said. Kiwibank chief economist Jarrod Kerr said the housing market was likely to pick up again now interest rates appeared unlikely to climb higher and migration had surged. “Putting a stake in the ground, saying this is the bottom [of the market], I think we can do that now,” he said. About 100,000 more people arrived in New Zealand over the past year than left. And while New Zealand had been in a building boom in recent years, construction had cooled in the past 12 months because of high building costs and falling house prices, Kerr said. “Every migrant that comes here either takes a rental or looks to buy,” he said. “So, we are going back into a situation where demand and population growth is outstripping supply. That is not good for affordability, it is not what we need, but that puts upward pressure on prices.” If the Reserve Bank begins lowering interest rates next year, that could further boost prices, he said. Stabilizing interest rates and strong net migration have long been key lead indicators of a market set to rise. Declining interest rates, whenever they come, are sure to push prices back up if accompanied by continuing population growth pressures from net migration. Generally, migrants seek jobs in the cities and once in a position to buy after their stand down period, can displace current city dwellers to the provinces. Strong migration from places like Auckland, Wellington and even Christchurch has led to Kerikeri’s extraordinary growth. A total of seventeen sales completed in Kerikeri during August down around 30% from July and about 40% from a year ago. Four of these were lifestyle blocks sold in late 2021/early 2022 which have been waiting for titles to come through. That is running a little under the monthly average of sixteen sales for the last 3 months. The election still has many people sitting on the fence whether selling or buying. Policies outlined by National, if put in place, could have significant impact on the feasibility of property investments versus other investment types and could open the higher end of the market to overseas buyers from countries other than Australia and Singapore. For our part we are gearing up for a busy summer by expanding our sales team, appraising properties, and advising vendors on how to get the best prices. It feels like the market is a coiled spring and we want to be prepared for the bounce back. Wayne at the head of our commercial arm continues to build momentum and offer advice to those looking to buy, lease or sell in the commercial and horticultural sectors. Pop in for a coffee and a chat or give any one of our team a call for free friendly advice. Follow these links for more information on the outlook for the property market and the economy. Economists see 'signs of further strength to come' in housing market Latest Tony's View - Tony Alexander (Economist)...
What is Yield?
The dictionary defines yield as “something that is gained in return from an input of goods or services”. From a property perspective yield is the value of the net rental income divided by the current property value, this is also known as the capitalisation rate. It measures the cashflow that you receive on an investment normally calculated on an annual basis. The capitalisation rate reflects the security or risk associated. Higher risk = a higher cap rate which also equates to a lower market value reflecting the shorter expectancy of the return. Lower risk = a lower cap rate giving a higher market value reflecting the expected longevity of the return. Cap rate also indicates the duration of time to recover the investment value so 6% takes 16.7 years but 10% will only take 10 years. Simply put if you want a quick return then likely there will be a higher degree of risk associated with it such as short-term leases, susceptibility to governmental changes or other external factors. The key to effective use of yield in your decision-making process is the stability of the income stream. Commercial leases tend to be relatively stable but future risks from tax changes, market influences and zoning changes all need to be taken to account. Generally as inflation pushes interest rates up the cap rates tend to increase as the risk factor changes although the cap rate tends to operate in a narrower range as supply and demand issues often mitigate this. We are currently seeing this happening in our markets now. Cap rates tend to range between 4% and 10%, as while below 4% is very secure, the length of time to recover the investment is too long for most investors. The opposite occurs when cap rates go over 10%, the return is good but the implied risk is often to much....
Caring for our community
We are passionate about our local community and support a number of select causes that deeply care about Kerikeri and its people.