New Zealand’s property sector has had robust growth over the past several years, bucking the global trend of sluggishness and bearish outlook.
Industrial and commercial property have also witnessed impressive rates of growth but several challenges confront the sector.
Commercial banks are beginning to reduce their exposure, orchestrated by stringent regulatory framework of the Reserve Bank of New Zealand including Loan-to-Value Ratio restrictions.
Against such a scenario of developments, Bayleys Real Estate Limited has maintained its rate of growth throughout the country.
Exceptional Clearance Rate
Tony Chaudhary, Team Leader of Bayleys in Auckland (based in East Tamaki), said that the Company has maintained an excellent clearance rate in its commercial auction rooms across the country thus far this year.
“We are halfway through 2017 with a lower level of commercial sales activity evident due to a significant shift in the credit lending criteria required within the commercial banking sector, across all major banks. Bayleys, however, has performed extremely well. It is obvious that good quality and competitively priced property are still highly sought after by buyers who are able to access appropriate finance,” he said.
Given the strong economic outlook, with the expectation of continued low interest rates, buyers can invest with confidence, he added.
The achievements of the ‘Tony Team’ have been inspiring. The total value of property sold during the 12-month period covering January to December 2016 was more than $150 million, accounting for 57 transactions.
There were six lease transactions during this period, valued at $372,074.
Tony is a professional with sound experience and proven expertise and hence his opinions are well considered. He has been consistently ranked among the company’s top 5% of agents nationwide. His Team has been ranked Third across Commercial, Retail and Industrial in the Country.
Tony has proved to be a consistent winner, with some of the finest attributes of a salesperson. Affable manners, integrity and transparency are qualities that have earned him a place of distinction not only within Bayleys but also throughout the Greater Auckland region. He sets high standards not only for his small but well-knit team but also for himself and leads by example. The fact that he is adaptive, geared to rise above the expectations of his clients and be available to suit their convenience builds confidence in people.
His proficiency in English, Hindi, Punjabi and an understanding of Gujarati, provides him an edge in negotiations, gaining in the process people’s confidence.
Tony’s proven strategies for attaining outstanding results for his commercial property clients have seen him rise through the ranks of the Bayleys group over the last seven years. Dealing with individual property owners, corporate clients, high-profile national retail groups and key international property investors, his business has grown exponentially on the back of repeat and referral business, record sales prices, a changing market, and clever solutions to his clients’ property challenges.
Tony leads a team of three Sales and Support Staff including Janak Darji, Ash Jogia and Amy Weng. They provide high quality services to a growing number of national and international clients, who value their diligent work, intelligent marketing strategies and proven negotiation skills.
A property graduate, Janak’s academic real estate foundation is complemented by his personal business skills and administrative experience.
Janak works closely with potential tenants and buyers ensuring that they are kept well-informed of market variables, recent leasing and sales deals, and new listings as they come to the market. His keenness to learn and his strong communication and information technology abilities are an asset to the team.
He speaks fluent English and Gujarati.
While Amy was completing her BCom degree at University of Auckland, she worked part-time at a restaurant and café. The skills that she gained in the service industry such as good customer relations are now available to the real estate industry where she strives to continually provide exceptional service.
Amy is proficient in Mandarin and Cantonese.
A newly added recruit, Ash has come from a finance background.
With an experience of ten years in the industry, he brings to the team strong customer relationship and negotiation skills. Eagar to learn, Ash is helping Tony with administrative duties whilst working towards his Real Estate Licence.
He is fluent in English, Hindi and Gujarati.
Tony Chaudhary and Bayleys Real Estate Limited are the Sponsors of the ‘Best Employer of Choice’ Category of the Tenth Annual Indian Newslink Indian Business Awards 2017.
About the Property Sector
A recent Urban Economics Report commissioned by the Property Council of New Zealand described the country’s Property Sector as ‘New Zealand’s single largest industry,’ accounting for 13% ($29.8 billion) of the Gross Domestic Product (GDP) as at the end of the financial year in March 2016.
This figure represents the difference between the cost of inputs (such as labour and materials) and the value of outputs (buildings and real estate services) and the real value added to the economy by the Property Sector.
The Report also said that the Property industry has grown by $11.7 billion over the nine years representing 2007-2016, more than double the growth of any other industry, ahead of manufacturing, healthcare, tourism and agriculture.
“As at the end of March 2016, the Property industry contributed $83.4 billion to the New Zealand economy. This includes a direct impact of $29.8 billion and flow on (direct and induced) impact of $53.7 billion. These figures do not include capital gains from the appreciation of land and property values. In addition, 60,800 employees were directly employed in the Property industry, accounting for 8% of total employment in New Zealand,” the Report said.