House Insurance

Simon has provided a commentary for a client, The Stewart Financial Group, newsletter on Insurance valuations. (A ticking insurance timebomb). In this he discusses the importance of ensuring that your home, often clients most valuable asset, is adequately protected by having a professionally assessed sum insured valuation. Click on the attached link to read the full article….

May 28, 2014 at 11:36 am

Patoka Dairies (In Receivership)

Auction held at Bayleys Napier office 6 Dec 2013

Ben Alpin and Trig Downs were taken to auction by Receivers PricewaterhouseCoopers on Dec 6 2013.  The auction created significant interest attracting a good turnout.  The properties are situated at Patoka, northwest of Napier City; Hawke’s Bay and have been on the market for the last two years under forced circumstances.

Ben Alpin comprises 351 hectares in total including 290 grazable hectares consisting of some 241 dairy platform 49 hectares of steeper grazable area, the balance including 50 hectares of QEII Bush.  Best production to date includes 209,126 KgMs produced in the 2011/12 production season and is on target to produce 218,000KgMs this season.  A sale price of $5,020,000 was achieved with a number of interested parties bidding, analysis shows a net sale price of $24/kgMs based on best production of 209,000KgMs.

Trig Downs sold after stopping at $7.4M; agents negotiated with the highest bidder and offered the property back to the auction finally selling at $7,500,000.  Analysis of this sale shows a net sale price of $27/KgMs based on best production of 282,000Kgms. The property consists of some 468 hectares with grazable areas of approximately 346 hectares.  These sales are consistent with previous sales in the area, the most recent being other properties sold by the Receivers.

December 9, 2013 at 2:14 pm

Hawkes Bay Rural Property Market Report Spring 2013

Download a detailed synopsis of the current rural property market with trend graphs showing historical property values.Key highlights

  • Sales of farms greater than 50ha in the Hastings and Central Hawke’s Bay districts are proving particularly slow for 2013 to date and are currently half the total volume experienced in 2012.  The drought at the start of the year had a significant effect on sales turnover.  Average sale price per hectare is slightly back from the buoyant 2012 year.
  • Gisborne and Wairoa sales are relatively slow with sales volume back from 2011/12 that was driven by the forestry industry.
  • Outlook for orchard properties remains in fine balance with long term profitability still the main issue facing growers.  Seven sales to date in 2013 are similar to total sales volume for 2012.  The average land and tree value per hectare has increased some 15% from 2012.
  • Four sales of lower grade cropping properties in 2013 with an average land value of some $37,800.  Prime cropping land still around $55,000 – $60,000/ha.  High demand for bare land orcharding properties to plant new high performing trees.
  • Lower number of viticulture sales in 2013.  The current outlook is positive.
  • 2013 dairy market affected by widespread drought conditions.  The most recent sale is a Patoka property indicating a net sale price per hectare of $16,114 and $21/MS.  Positive market on account of the increased forecast of $8.30 m/s and expected dividend of $0.32 m/s for the 2013/14 production year.
  • Strong demand for mature forestry woodlots on the back of positive log export market.  Log prices are some 12% higher than 2012.  Opportunity exists to reduce contingent liabilities from NZU’s sold by acquiring ERU’s.

November 5, 2013 at 12:26 pm

Waimarama Beachfront Property

A new level has been set for Waimarama beachfront properties with the sale of a 2333m2 beachfront property in March 2013 for $4.2M.  Renovations had occurred to the dwelling since its previous sale in January 2012 for $2.2M.  It will be interesting to see how this sale affects neighbouring beachfront allotments in the Waimarama area.

October 7, 2013 at 1:30 pm

Hastings and Napier Commercial and Industrial Rent and Yield Summary June 2013

Download the June 2013  research on the Hastings and Napier commercial and industrial property market.

In summary

  • Stronger confidence apparent
  • Prime property yields back at close to 2007 levels
  • Total returns have marginally improved over the past 6 months
  • Hawke’s Bay shows positive growth but at a level of approximately half for the New Zealand economy
  • Total returns for most major world markets have contracted over the past 6 months.  New Zealand and Japan show increases.

August 27, 2013 at 9:44 am

Plan Change 6

Duncan Holden has invited the Hawke’s Bay Regional Council to the Onga Golf Club on Tuesday 23rd July to discuss Plan Change 6 and the effects that this may have.

They are being represented by Ian Milner, Warwick Hesketh, Nathan Heath and also Helen Codlin and Ian Maxwell.

There are issues and I believe this a great opportunity to hear from the Council and also ask questions on how this may affect us all.

The agenda is as follows

1:00pm – Meeting of deer farmers as “deer fencing” off water ways is a big issue.

3.30pm – Meeting for all farmers.

You are most welcome to attend both meetings.

July 22, 2013 at 10:48 am

Hawkes Bay Rural Property Market Report Autumn 2013

Download a detailed synopsis of the current rural property market with trend graphs showing historical property values here.

Key highlights

  • Number of farm sales in the Hastings and Central Hawke’s Bay District for properties greater than 200 hectares are the lowest since 1998.
  • Gisborne and Wairoa Districts farm sales during 2012 again was high with a substantial increase in the average land value per hectare, generally due to higher quality properties being sold.
  • Some recent transactions of dairy properties including a resale in Norsewood equating to a 38% decrease in land and building value over a four year period.
  • An increase in the number of orchard sales near the end of 2012 resulting in a drop in market values with average land and tree values per hectare now around $55,000.
  • Eight cropping sales in 2012 compared to thirteen in 2011 with a slight reduction in land values.
  • 2012 viticulture sales resulted in some forced or near forced sales, particularly of smaller contract grower blocks, which lowered the average land and vine value. The 2013 harvest is looking promising with an estimated 17% increase from 2012 production levels.
  • Land acquired for carbon farming is in minimal demand, with NZU’s reaching an all time low of $1.50 during February. ERU’s are the carbon credit of choice for industrial emitters and foresters with liabilities currently trading at $0.14.  Limited pre 1990 sales.
  • Outlook for 2013 is projected to be steady for most sectors.

April 30, 2013 at 3:14 pm

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