First up is the fact that our membership remains relatively static at seventy - five, has been loyal & supportive of most activities organized. To refresh our memories of those activities:
February - AGM – Tony Wood, Accountant
April – Ian Little – Property Investing
June - Warren Duncan - Drugs
Helen & Jeanette to Communication Meeting in Wellington
August - National Party spokesman on Housing – Phil Heatley
October - J C Barrell & Stephanie Wiki – Insurance Clinic
Jeanette to AGM at Conference in Christchurch
November - Timaru - Veda Advantage
Christmas Bus trip – thanks to Placemakers, Peter Senior & G J Gardner Homes
January 2008. - Garden Competition
Next is to attempt to provide a ‘birds-eye’ view of property investing in North Otago. My feeling is that district-wide the economy has slowed slightly. Properties are taking longer to sell & demand for rental accommodation is more discriminating from both landlord & tenant. However the overall median price seems to be holding, although it is worth noting that increased prices needed to lift considerably to bring the district into line with other rural servicing towns. For the first time in more than three decades demand for labour is outstripping supply although changes in the type of farming – mixed sheep & beef properties being converted into large scale dairying – has impacted hugely upon the countryside as well as upon the frozen meat industry. Heavy investment of nearly $100m, mostly from private equity funding, rather than individual farmers, into irrigation has largely underwritten these changes.
Further dairying conversions are proposed on both sides of the Waitaki River although competition for water for hydro energy production by Meridian with the North Bank Tunnel Scheme is still going through the consent process. Similarly, Holcim’s plans & support for a $200m cement plant on the outskirts of Oamaru remain uncertain.
Tourism has grown considerably, partly from overspill from Wanaka & Queenstown, thus lifting prices in the Waitaki Valley – especially Otematata & Omarama. Heritage tourism in & around Oamaru continues to grow with capacity now reached for night-time visits to the Oamaru Blue Penguin Colony. Oceana Gold provides a solid economic base to Palmerston in the south of the district. A number of prospecting licenses have been issued over the Taieri & the Clutha Rivers whilst gold-bearing ore from Reefton is trucked from Palmerston rail head daily to the Macraes mine site.
Over the past year we have regularly conducted ‘straw’ polls on how members see the local economy. While we usually have speakers at meetings, most NZPIA members take advantage of the extra time over supper to network & share ideas.
So far as speakers or events we run, it is obvious that the Christmas Bus trip is a favourite. We accept we could be considered basically ‘nosy’ or else the very practical opportunity to take a look around the streets of Oamaru with a couple of stops for drinks & nibbles always go down well. We use the opportunity to look at properties for sale, lease or to build, in such a way that those who do the organizing or who provide information about their product feel it was worth organizing the event. We have strong support from a number of sponsors - Placemakers, GJ Gardener, Ritchies & Real Estate Agents for the bus trip, but have some twenty or more who regularly advertise in our newsletter. Westpac continues to provide photocopying support & with 2 to 3 senior banking staff members also attending meetings are well informed in the banking area. We still think there are other marketing opportunities out there that we could be availing ourselves of.
This year at our AGM we reviewed whether we would continue receiving the Property Magazine. North Otago was recently included in the Regional Review & I feel it acted as a ‘touchstone’ for folk thinking about moving/buying here.
We continue to be unhappy with the way Oamaru & the Waitaki District hover in & out of Otago & Canterbury with Trade Me, Realenz & on Tenancy matters
We increased the membership fee to $110 but have decided that next year those members who wish to continue receiving the Property Magazine will meet the cost on top of their sub. We have held discussions with the Otago Branch about being included in their magazine but are still working out how this will happen.
We continue to review whether we are meeting the needs of our members. I recently had a phone call from the Editor of the Property Magazine. She wanted to know whether our Branch had members over the age of 60 who were prepared to give their opinion on what they would do differently if they were starting out again. I pointed out that I thought that our membership was probably mostly over the age of 60!
No matter, there is genuine enthusiasm at meetings & for activities run by the branch. A Best Garden competition for tenants attracted wonderful entries with the winners showing just how enthusiastic they are about where they live.
Helen A Stead. President, North Otago Branch of NZPIA
