The broader Wellington housing market has weathered a tumultuous phase of the real estate cycle as one of the first regions to take off as lending conditions eased during the pandemic, but also leading the pack in slowing sales activity as interest rates crept higher. It is now encouraging to recognise a more promising outlook for 2024, reflected by leading real estate agency Bayleys’ investment in a new local office.
The new branch in Paremata is Bayleys’ latest in a national network, which spans 103 offices employing more than 2,000 sales and support staff. It will support existing local offerings, including residential, lifestyle, rural, commercial and industrial, tourism and business sales, in addition to property management and a suite of advisory and valuation services.
The team of salespeople, management and administrative support will service the territory along Wellington’s northwest from Tawa to Paekākāriki.
Bayleys Paremata sales manager Tony Fitzsimons says a dynamic team of established salespeople, operating in the broader Wellington market for many years, have added depth to the new office.
“In securing the talents of established local salespeople Martin Cardno, Tanya Davis, Holly Williams, and Ralph Kindl, buyers and sellers benefit from experienced local insight and the team’s combined network of qualified purchasers.
“This group of exceptional operators is trusted and accomplished locally, supporting Bayleys Paremata to function superbly as a central service hub focused on transparency, collaboration and teamwork.
“Our point of difference is undoubtedly the embodiment of Bayleys’ Altogether Better ethos and an ability to leverage the agency’s multi-disciplined reach and strategic partnership with global property consultancy Knight Frank – which has touchpoints in 53 international markets.
“Real estate conditions have bumped around a bit, and our combined experience provides confidence and a consistency of service for the community via some trusted and familiar faces, albeit elevated with Bayleys’ broad reach and a leading suite of marketing tools.
“Ultimately, the addition of incoming sales and support staff will add greater value for buyers and sellers across the district via the strength of our established presence and extensive networks,” he says.
The new Bayleys Paremata office at 114 Mana Esplanade will complement the brand’s existing offices in Wellington Central, Eastbourne, Kapiti, Lower Hutt and Upper Hutt.
Bayleys Wellington general manager Grant Henderson says the agency’s increased scope reflects a focus on growth for the business across the region.
“At Bayleys, we are proudly 100 percent Kiwi owned and operated and take great pride in being staunch local representatives. We are a nationally connected real estate network, with more people on the ground supporting communities across the country.
“The area north of Wellington City is set to house an extra 30,000 more people over the next 30 years, with intensification taking place in key locations across the district. Bayleys’ increased local presence is positioned to support this growth, particularly as new developments attract attention from beyond the immediate locale.
“Lower Hutt, Porirua and the Kapiti Coast have been evolving as urban alternatives and lifestyle destinations for some time. However, the Transmission Gully has made this region more accessible, lifting values, demand, and with that, new population and investment,” Mr Henderson says.
Bayleys Wellington Commercial and Industrial director Fraser Press agrees the acquisition reflects high confidence in regional expansion.
“At Aotea, you have some 2,000 new addresses, and it’s a similar story in Plimmerton.
“The new Paremata office, with personnel experienced in the local area, gives Bayleys a critical mass in the market and the opportunity to expand our residential offerings during such a pivotal growth phase for the Wellington region.
“At the same time many businesses anticipate a period of consolidation, Bayleys continues to elevate its performance in what we see as critical future markets, which underpins our confidence in the future of the district.”
Bayleys Real Estate celebrated its 50th year in operation in 2023, having built a reputation as the country’s largest full-service real estate agency and the top-performing commercial and industrial division in Wellington.