Home Inspection News – Issue 47

February 2021 Real Estate Market

Sales up. Prices up. It’s the ongoing story of the residential property market. In February the
number of sales was the highest for a February since 2007.

February’s prices were the highest ever across New Zealand. 12 of the 16 regions in New
Zealand set record high prices:

Region New Record Price % Increase in 12 months
Auckland $1,100,000.00 24.3
Waikato $713,500.00 23
Bay of Plenty $824,250.00 26.8
Gisborne $595,000.00 32.2
Taranaki $520,000.00 26.2
Hawkes Bay $704,000.00 36.4
Manawatu/Wanganui $545,000.00 27
Wellington $890,000.00 24
Nelson $710,000.00 23.5
West Coast $299,000.00 32.9
Marlborough $615,500.00 15.9
Canterbury $561,000.00 18.4
New Zealand $780,000.00 22.8

The time taken to sell a property decreased by 6 days in February, down from 36 to 30 days. More than half of the regions in New Zealand took an average of less than 30 days to sell.

Taranaki was the fastest at just 21 days and Northland took the longest to sell at 47 days. The number of properties for sale across New Zealand continued to fall in February down 24.2% compared to February 2020.

Despite the re-introduction of the 40% LVR restrictions coming back into effect in March the outlook is still for continued rising prices.

Fences and Gates
Benefits

Fences and gates are a normal part of a home. In suburbia land sizes may be as large as an acre (4048m2) or as small as 300m2.

Then there are lifestyle properties and farms but we will limit this article to residential property.

The major reasons for having a residential property fenced and gated is for security, safety, privacy and property enhancement.

A well fenced property with a locked gate is a poor prospect for a burglar who would hopefully look elsewhere.

From a safety stand point especially in locations with busy street traffic, children and pets are much safer in a well fenced and gated garden.

Privacy with a solid fence and gate may be a big factor in choosing a fence and gate. Sound reduction can be another bonus.

Sometimes home owners just want a fence and gate to enhance the appearance (and value) of their property.

Types and Costs 

The following table is by no means comprehensive but does give an overview of the main types of fences and gates and their prices.

Fences and Gates
Material Typical Material Cost / Lineal Meter (for typical 1.8m high)
Wood –                             Picket fence $180.00
Post and Rail $150.00
Panels / Trellis $150.00
Natural Brush Panels $175.00
Solid Close Palings $100.00 – $350.00
Metal –                 Colour Steel Panels $275.00
Powder Coated $300.00
Aluminium Panels $300.00
Wrought Iron $150.00 – $200.00
Plastic –                            PVC Panels $75.00 – $150.00
Fibre Cement –  Wooden Posts & Sheets $51.00 – $100.00
Concrete –       Block (eg Interlocking) $350.00
Panels $221.00 – $280.00
Brick $450.00
Natural Stone Hinuera $160.00
Central Otago Schist $750.00
Gates From $200.00 – $5,000.00+ (from standard to automatic)

Keep in mind labour / installation costs are not included. Stonemason and bricklaying can cost much more than the material cost.

A typical “regular sized” 600m2 section (30m x 20m) gives a fencible area of 100 lineal meters, so for material costs alone multiply the meter cost by 100.

Clearly to fence and gate a property even of this size a price of $7,500 – $45,000 for materials and up to double that for labour is pretty expensive.

Keeping fences and gates in good condition gives all the benefits described and adds value to a property.

Fences and gates form part of every home inspection report from A Buyer’s Choice Home Inspections.