Latest news with #TradeMe
Otago Daily Times
2 days ago
- Business
- Otago Daily Times
Keen interest in historic Cardrona Hotel
The Cardrona Hotel is for sale. Photo: ODT Files With more than 90,000 views on Trade Me, the Cardrona Hotel is topping the property charts after its listing on July 3. Nestled between Wānaka and Queenstown, the building has been standing proudly on the Crown Range Rd for over 160 years and has had 11 owners since its early beginnings. The pub's owners — Cade and Alexis Thornton and James and Fleur Jenneson — have owned the historic establishment since 2013. They have described the chance to buy it as a "once-in-a lifetime opportunity". Trade Me property spokesperson Casey Wylde said the property had over 92,000 views and counting. "The iconic property has clearly had a lot of Kiwi dreaming about a lifestyle change," she said. "It's really no surprise this landmark of the South Island has been so popular." She added the average asking price in the Wānaka district for residential properties was $1,629,000, and given the high interest in the hotel, it was likely to fetch much more than that. The complex includes a bar and restaurant, 17 ensuite hotel rooms, a beer garden, a children's play area, a modern workshop, a retail gift shop, and car parking. Based on the average number of views, Ms Wylde said the property was set to take out the top spot in the coming week. The deadline for sale is August 15. Mr and Ms Thorton published a statement on the hotel's Facebook page expressing their gratitude to the community and explaining it was time for them to focus on their family. "The time is right for us to pass on the baton to new owners," the couple said in the statement. "Our children are both excited about the prospect of having their dad around more." It did not take long for the comment section to flood with words of encouragement from members of the community, staff, and friends. The destination hotel has offered much more than accommodation with past visitors sharing their happy wedding memories in Cardrona. The owners also clarified in the statement that the hotel was still operating as per usual with no changes being made to any future reservations already made.
Scoop
4 days ago
- Business
- Scoop
Kiwi Home Buyers Near $30 Thousand Dollar A Minute Decision
A new survey from Trade Me has revealed Kiwi house hunters open home behaviours - with admissions of peeking in bathroom cabinets and at family photos, to insights on time spent at viewings. Those seriously considering a property spent an average of 28 minutes at an open home, according to the survey of more than 1,000 people who have attended a viewing in the last two years. Trade Me Property figures show the average asking price for a property in Aotearoa in June was $829,650 which puts time spent deciding to buy at $29,630 a minute. Trade Me Property Customer Director Gavin Lloyd says the survey findings are illuminating. 'Purchasing property is a huge decision and likely the biggest financial one people will have to make, and yet you could spend longer listening to The Beatles Hard Day's Night album or watching an episode of Shortland Street, than some do at an open home for a place they wish to buy. 'No doubt, by the time you factor in due diligence the overall decision time increases; however, it does serve as a timely reminder for those seriously considering buying to take the time to scrutinize the purchase, get a building report, check the LIM and titles and research the neighbourhood. Being well-informed can not only save unforeseen costs down the line, but can lead to a more confident decision.' Further survey findings found nearly a quarter (23%) of those who had recently purchased property, visited more than 20 open homes before buying and 59 per cent agreed to feeling an emotional attachment to a property. 'Finding and buying a home is as much an emotional journey as it is a financial one. There are many feelings tied up in the process, from the excitement of finding 'The One' to the stress that can come with making what is a significant investment - it can be a rollercoaster.' Of those polled, 72 per cent said they looked inside wardrobes, 69 per cent in cupboards and drawers, 58 per cent tested the water pressure, 39 per cent admitted to peeking in bathroom cabinets and 14 per cent spent time looking at photos and personal items on display. 'More than half admitted to placing a fair to great amount of attention on cosmetic features such as the colour of walls, flooring and other surfaces which was somewhat surprising given these features are not permanent, or easily changed to better suit a buyer's taste,' says Gavin Lloyd. Survey methodology The survey was conducted by Trade Me's User Experience team in June 2025 and collated responses from 1,008 New Zealanders aged 18-80 years old.
RNZ News
09-07-2025
- Business
- RNZ News
Wellington leads way as rents track downwards
Photo: RNZ Residential rents are falling in most parts of the country with Wellington leading the way down. Trade Me's latest Rental Price Index for June indicates average Wellington rents dropped by $50 a week to $600 last month over the year earlier. They are now at the lowest level since November 2022. "Wellington saw a 34 percent annual increase in rental stock come to market in June, coupled with a 16 percent annual drop in demand," Trade Me Property spokesperson Casey Wylde said. Rents in the other main centres also fell, though were up in the far South, increasing by 6.7 percent to an average of $480 in Southland. Otago rents increased by 3.4 percent to $600. The national median weekly rent was down $20 to $620. "The easing of rental prices, coupled with increased listings and less competition, is creating a more favourable environment for renters, offering them more choice and potentially better negotiating power," Wylde said. The latest represented an overall 3.9 percent year-on-year decrease with supply increasing 20 percent while demand cooled 18 percent. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Scoop
09-07-2025
- Business
- Scoop
Wellington Rents Drop To Lowest Since 2022
Wellington has seen the most significant year-on-year decline in median weekly rent across the motu, according to Trade Me's latest Rental Price Index for June. Wellington renters can expect to pay $50 less per week when compared with June 2024, with the median weekly rent falling to $600, representing a 7.7 per cent drop year-on-year. This cooling trend in the capital stands in stark contrast to continued upward pressure felt in the lower parts of the South Island. Trade Me Property Spokesperson Casey Wylde said, "Wellington hasn't seen its median weekly rent this low since November 2022, showing just how much the rental market in the region has changed in 2025. 'This is being driven by your simple supply-demand equation pushing prices down - Wellington saw a 34 per cent annual increase in rental stock come to market in June, coupled with a 16 per cent annual drop in demand. National rent relief continues Across the motu, the national median weekly rent continued to fall to $620 per week in June, down $20 since January. After reaching $650 in May last year, the national median rent steadily eased to $635 in March and $630 in April. While it held steady in May, in June it dropped again to $620, a welcome trend for renters nationwide. This June figure represents an overall 3.9 per cent year-on-year decrease with supply increasing 20 per cent in the year to June while demand cooled 18 per cent. Trade Me Property Spokesperson Casey Wylde said, "the easing of rental prices, coupled with increased listings and less competition, is creating a more favourable environment for renters, offering them more choice and potentially better negotiating power." Mixed fortunes across the regions While Wellington boasts the most significant annual drops, the rest of the country was a mixed bag. The lower South Island continues to see annual rent increases. Southland still leads the pack for year-on-year increases, up 6.7 per cent to $480. Otago also maintained strong year-on-year growth at 3.4 per cent to $600. Wellington's widespread rent declines Wellington's rent declines affected all property sizes and urban dwelling types in June. Large properties (5+ bedrooms) saw a 9.1 per cent drop to $900, while three to four-bedroom homes fell 6.7 per cent to $700. Smaller properties (1-2 bedrooms) recorded a 8.3 per cent drop to $550 in June. When we look at urban properties (townhouses, apartments and units) specifically, Wellington's market experienced an overall 7.6 per cent decrease. This includes a 9.3 per cent drop to $535 for apartments and a 4.4 per cent drop for townhouses to $650, with units remaining steady at $520. Auckland and Christchurch also saw declines across various property types.
Scoop
07-07-2025
- Business
- Scoop
House Prices Hit Nine Month Low In June
Press Release – Trademe In June the average asking price was $829,650, down more than $15,000 (-1.8%) on May and -1.4 per cent year-on-year. The national average asking price has fallen to its lowest since September 2024, shows Trade Me's latest Property Pulse Report. In June the average asking price was $829,650, down more than $15,000 (-1.8%) on May and -1.4 per cent year-on-year. Trade Me Property Customer Director Gavin Lloyd said Auckland prices have taken the largest hit. 'Tāmaki Makaurau has seen the largest decline in the average asking price, from both a month-on-month (-2.4%) and year-on-year perspective (-2.7%). 'If we look at the price in June, and compare it to the same time last year it shows a fall of close to $28,000. That said, the average asking price of property in Aotearoa's largest city continues to hold above the million dollar mark (at $1,005,950), $150,000 more than the Bay of Plenty, which is the next most expensive region,' said Lloyd. Deep South, good gains The average asking price for a property in Otago has grown by close to $54,000 in the year to June, a 6.7 per cent increase. There are four districts within the region driving the increase, Waitaki where prices are up 2.8 per cent year-on-year, Dunedin (+2.2%), Queenstown Lakes (+1.8%) and Wanaka (+1.3%) 'Otago is a huge and diverse region, it's laid-back, incredibly scenic and is particularly appealing for lovers of the great outdoors, a wonderful place to call home. 'With recent Census figures showing increasing Kiwi to be moving south it will be interesting to see if the growth in house prices in Otago continues its steady upward trajectory,' says Mr Lloyd. Outside of Otago, Southland has also made good gains across the year with the average asking price up 3.4 per cent or around $17,000. 'The average price in Southland in June was just over $522,000, so while it's on the up it still remains one of the most affordable regions across the motu.' Further north, both Hawkes Bay and Taranaki show strong year-on-year growth. The average asking price in Taranaki is up 5.2 per cent or close to $35,000, while Hawkes Bay prices have increased 3.8 per cent year-on-year, the equivalent of more than $27,000. Supply and demand down both fall The number of listings on Trade Me Property, which hit a decade high in March, fell nine per cent between May and June but remained four per cent up year-on-year. Demand was also down 12 per cent on the month prior but flat compared to June 2024. 'Seeing supply dip at this stage of the year isn't unexpected, but there remains plenty of choice in the market for those house hunting with several thousand more properties listed on site than the same month last year,' says Mr Lloyd. The median number of days onsite increased from 70 in May to 78 in June.
