ElevenMedia

Legal Process Outsourcing Reshaping the Legal Industry

When we look at the legal profession, one of the growing trends would have to be Legal Process Outsourcing(LPO). This is the use of outsourcing companies for various legal services. LPO covers anything from the hiring of legal research firms to handling of temporary legal projects by personalities other than the lawyers who were actually hired for the job. What is the impact of outsourcing in the legal industry?

Reshaping the Legal Industry

We see legal professionals strategically positioning themselves to ensure that they survive potentially ailing economies. The emergence of outsourcing in the legal industry is one of the trends that is helping the law firms to become more efficient, competitive, and productive in the context of global markets.

Outsourcing is seen as reshaping the legal industry in terms of the delivery model used for legal services. LPO basically transfers the work that lawyers, paralegals, and similar legal professionals do to external vendors that can exist either locally or overseas.

Onshore and offshore outsourcing impacts law firms because of its ability to minimize the costs, expand its capabilities, and increases flexibility. For busy lawyers or law firms, outsourcing gives them the luxury of handling complex or time-consuming projects without having to spend much of its budget.

Regardless of the size of law firms, it cannot be denied that outsourcing can make them more competitive through the use of subcontracted legal services. Law firms that decide to rely on legal outsourcing can make use of full-time employees for business critical operations without affecting its efficiency.

Legal Outsourcing Trends

Strategic planning is critical in any industry and this holds true even for the legal profession. To be able to do this, it is important to be aware of key industry trends as they unfold. It is therefore important to take note that LPO is one of the growing fields in the legal industry.

A research estimates that the LPO market can reach up to $8.6 billion by 2020. There was a time when LPO would be a virtual unknown in the legal profession. Today, it is influencing not only the path of the legal profession, but also that of legal education. What trends are associated with LPO?

Continued Growth

As LPO continues its growth, the stigma that is associated with it will eventually shrinking to nothing. The misconceptions about security and quality are slowly being corrected so much so that the benefits that it presents are being embraced and appreciated by more law firms.

The continued growth is anchored on the ability of LPOs to increase efficiency, open new markets, provide competitive advantage, and reduce costs. The tasks that are traditionally handled by junior associates are being carried out by LPOs from various locations.

The bottom line is effectively delivering the needs and wants of the clients. By working for an LPO, young lawyers will be able to receive valuable experiences that can further their careers. How acceptable is outsourcing in the legal industry? It has reached a point where it is officially supported and acknowledged even by the American Bar Association.

It should be pointed out that outsourcing in no way excuses lawyers from properly performing their responsibilities and ethical obligations. It is necessary for LPOs to understand the expectations and be prepared to meet the growing demand for their services. The expansion of LPO infrastructure and services makes it attractive for legal talents and supports the trend of continued growth.

Streamlined Legal Operations

Outsourcing can help law firms prioritize the creation of robust legal operations. With the scope of legal operations ballooning over the last decade, there is a need to ensure that waste is reduced while efficiency is increased. There are no signs that this demand imposed on the management of legal departments would die out soon.

It is estimated that about a third of general counsels of Fortune 500 companieshave employed the services of legal operations managers during the last decade or so. The presence of these legal operations managers have given them significant influence in corporate legal departments. This includes reporting directly to the general counsels as well as being given titles of senior managers inside the company structure.

The vital job that these legal operations managers perform include the deconstruction of legal processes and even the determination of tasks that can be kept in-house. The tasks that will not be retained are those that can be supported better by the deployment of legal outsourcing initiatives.

Increasing Popularity

With the many benefits presented by LPOs, it is not surprising that it is gaining increased popularity; something that is shared even by hybrid onshore and offshore outsourcing providers.

For many, the concept of outsourcing translates to sending of job responsibilities overseas. This concept is not entirely true or accurate. The outsourcing model of today is no longer characterized by simply the reduction of overhead of law firms. Outsourcing has taken the shape of holistic examination of processes in an attempt to find the most efficient way to create workflows and get the job done faster.

In this context, resourcing enters the equation with hybrid outsourcing models effectively combining the elements found in both onshore and offshore providers. One of the key reasons for its popularity is that it can support work to be done around the clock or what is commonly referred to as the follow the sun workflow.

This means that when one delivery center completes its allocated work, it will then be passed on to the next delivery center to ensure continuity. The handing off process can be from one onshore center to an offshore center and back.

The popularity of hybrid outsourcing can also be traced to the fact that onshore centers give clients the option of exporting control regulation or the data privacy requirements of data. This is done to maximize the efficiency and cost saving benefits that LPO firms can deliver. Currently, there are a number of LPO firms that can provide hybrid onshore-offshore models to law firms.

In the 2016 Chief Legal Officers’ (CLOs) survey,over three quarters of CLOs agree that the amount of work that is outsourced can either stay the same or increase over the next few years. If this is to be believed, then outsourcing in the legal industry will definitely continue on.

ElevenMedia

Aussie Demo Confirms Continuing Demand For Demolition In Sydney
Sydney based Aussie Demo Confirmed in an exclusive interview with Eleven Media that there continues to be strong demand for their demolition services in Sydney.

Clyde, Australia – February 19, 2019 /Eleven Media

Aussie Demo is a leading residential and commercial demolition contractor in Sydney with their extensive experience ranging from single level residential homes right through to large multi-level commercial structures. They have a very good understanding of how Sydney buildings are constructed. For years, we have worked closely alongside builders, architects and engineers to make sure that structural integrity of the building is maintained at all times during the demolition process.

Mr Alex Pecherskiy, Founder of Aussie Demo, in an interview with Eleven Media said, “Sydney has been experiencing post the GFC a strong property market and this has seen the strong demand for demolition services as developers remove old building to make way for new complexes to meet this demand. It is only to be expected that property prices will stabilize, as they have done over the past year, but we see no decrease in demolition work in the foreseeable future given the continuing strong demand for our services that we are still seeing.”

Eleven Media’s investigations also confirm these comments with numerous large buildings still ear tagged to come down buildings to come down. These include the recently announced Government projects that see the Powerhouse Museum and Sydney’s Allianz Stadium complex to soon see the wrecking ball in coming months.

About Aussie Demo

Aussie Demo provides a quality demolition and asbestos removal service to Residential, Industrial and Commercial Demolition Sydney clients.  They undertake work from small domestic demolition projects and asbestos removal contracts, to large industrial and commercial demolition work.

Aussie Demo are fully licensed with WorkCover NSW for demolition and asbestos removal. They hold current Workers Compensation and Public Liability Insurance with the added coverage for asbestos.

All Aussie Demo staff are trained and accredited in the safe removal of Asbestos and the company is registered with the Department Of Environment and Climate Change for the tracking and transportation of it.

At all times a WorkCover NSW accredited and approved Demolition Supervisor is on site during the demolition and asbestos removal process.

Call today for a free quotation on the demolition or asbestos removal work needed to be done for your project. No job is too big or too small.

To learn more about Aussie Demo and their range of residential and commercial services, visit the website here: http://aussiedemo.com.au/

Contact Info:
Name: Mr Alex Pecherskiy
Organization: Aussie Demo
Address: 50 George St Clyde, Clyde, NSW 2142, Australia

ElevenMedia

Buildhub NSW Launch New Web Presence

Buildhub NSW Pty Ltd in an interview with Eleven Media confirmed the launch of their new website to showcase the array of building and construction services they provide.

Commercial Strip Outs

Mr John Semaan of Buildhub NSW Pty Ltd said, “We surveyed our clients and visitors to our past site to arrive at a website solution that suited the array of individual client needs. We found that they had broad requirements from education on building options through to the desire to simply contact us with ease. We needed to take all of this feedback into consideration in our new website design solution and are very happy with the final result.”

Buildhub NSW is one of Sydney’s recognized experts in the Sydney construction and excavation industry. They are specialists in all construction areas such as commercial strip outs, concrete placement through to high quality finishing work.

“The new website needed to be a reflection of the high-quality work we do. I am extremely pleased with the web designer’s ability to have captured this in the look and feel of the new website. We are also very encouraged also by the feedback already received from customers visiting the website since its launch” said John Semaan.

For more information on the company and to visit their new website, visit via this link: http://buildhubnsw.com.au

About Buildhub NSW Pty Ltd

For over fifteen years, the team at Buildhub have been providing professional construction and civil services in Sydney. The primary focus is on commercial building services but the expertise and scope of work covers not only this but demolition work, high rise building work, fitouts, through to strip outs and development work.

Buildhub NSW is a family owned and operated business doing working on the highest level of construction, civil work for leading corporate and Government clients. With experienced tradesmen and all work being fully insured, clients are putting their project in good hands. Pricing is also extremely competitive and their expert site teams get the job done fast and as expected.

Media Contact

Mr John Semaan

PHONE   +61 0410 199 967

EMAIL     info@buildhubnsw.com.au

ADDRESS  Shop A/ 445-455 liverpool Road
Ashfield, NSW 2131

WEBSITE  http://buildhubnsw.com.au/

ElevenMedia

Invitrocue Signs Technology Development Agreement

Invitrocue signs technology development agreement to include indications for multiple breast cancer subtypes.

– Invitrocue to develop new breast cancer models for Onco-PDO TM that will include leading breast cancer subtypes ER+, PR+, HER2+ and Triple Negative Breast Cancer

January 23, 2019 – Invitrocue Limited (ASX: IVQ), a leading healthcare bio-analytic solutions provider, is pleased to announce the signing of a new technology development agreement with the Shanghai Institute of Biochemistry and Cell Biology (SIBCB), Chinese Academy of Sciences, for the laboratory culture and development of new breast cancer models for Invitrocue’s proprietary Onco- PDOTM test.

Under the agreement, Professor Arial Zeng, an expert in stem cells during mammary development and breast cancer, will help Invitrocue to develop and optimise the protocols for the in vitro culture, propagation and expansion of patient-derived organoids (PDOs) from breast cancer patients with multiple breast cancer subtypes, including ER+, PR+, HER2+ and TNBC.

The IP will be jointly owned by both parties and Invitrocue will be granted global commercialisation rights to any intellectual property (IP) developed under the agreement.

Commenting on the collaboration, Dr. Steven Fang, Executive Chairman, Invitrocue, said:

“Whilst we already offer breast cancer testing with Onco-PDOTM, this collaboration agreement is an important advancement of our technology to expand into multiple subtypes of the world’s leading cancer for women. Professor Arial Zeng is a world-renowned scientist in breast cancer organoid biology, and we look forward to working closely with her. This collaboration will enable us to provide even more precise and personalised data for breast cancer patients, leveraging our evidence-based approach to inform treatment pathways and improve patient outcomes.”

About Invitrocue Ltd 

Invitrocue is a leading healthcare bio-analytic solutions provider including in vitro cell-based testing technologies and image analytics software for use in digital pathology. Invitrocue has developed a unique 3D cell-based scaffolding technology that mimics human organ samples for using in the field of infectious diseases. In 2016, the company expanded its work in liver disease to the field ofoncology. Invitrocue’s Onco-PDOTM technology enables patient-derived cancer cells (organoids) to be cultured in laboratories for testing against a panel of drugs to support clinical decision making for individual patients (personalised medicine).

Invitrocue’s technology originated in Singapore’s Agency for Science, Technology and Research(A*STAR). Invitrocue has been developed and validated in partnerships with leading biopharmaceutical companies and scientific collaborators.

InvitroCue Limited │ ACN 009 366 009
Level 2, 350 Kent Street, Sydney, NSW, 2000, Australia

Invitrocue is listed on the Australian Securities Exchange under the ticker IVQ. Website:    www.invitrocue.com

About SIBCB

SIBCB is a leading research institute for life sciences in China, focusing on human health and the frontiers of biology, and dedicated to pursuing research excellence.

 

Media  Contact:

Martin D. Bach, VP Operations

T: +65 6460 0497

E: martind.bach@invitrocue.com

 

ElevenMedia

Tango Skip Bins Launch New Web Presence

Tango Skip Bins in an interview with Tony Adams Digital confirmed the launch of their new website to showcase the array of skip bin services they provide.

Skip Bin Hire Sydney

Mr Sam Matar of Tango Skip Bins said, “We surveyed our clients to arrive at a website solution that suited the array of individual client needs. We found that they had broad requirements from education on rubbish removal options through to the desire to simply contact us with ease. We needed to take all of this feedback into consideration in our new website design solution and are very happy with the final result.”

Tango Skip Bin Hire is one of Sydney’s recognized experts in the Sydney rubbish removal skip bin industry. They are specialists in all rubbish removal areas such as commercial, residential, industrial right through to builders & event rubbish removal.

“The new website needed to be a reflection of the high-quality work we do. I am extremely pleased with the web designer’s ability to have captured this in the look and feel of the new website. We are also very encouraged also by the feedback already received from customers visiting the website since its launch” said Sam Matar in the interview with Tony Adams Digital.

About Tango Skip Bins

Tango Skip Bins are one of the top skip bin hire services in Sydney. They service Sydney CBD, Western Suburbs of Sydney as well as the Inner and Outer Sydney suburbs. An Australian owned and operated business, Sam Matar and his team have been providing skip bins to Sydney’s home and business owners for more than 10 years.

Tango Skip Bins are known as a reliable skip bin hire business that will deliver the bins to you on time and you do not have to worry about no shows or cancelled deliveries. 100% reliable and affordable.

For more information on the company and to visit their new website, visit via this link: http://www.tangoskipbins.com.au/

Media Contact

Sam Matar

Company: Tango Skip Bins

Phone: +61 0422222468

Email:  tangoskips@gmail.com

Website: http://www.tangoskipbins.com.au/

Address:  10-12 Flushcombe Road, Blacktown, Sydney New South Wales, 2148, Australia

ElevenMedia

Western Sydney Shutters Launch New Year Promotion 

Family owned Western Sydney Shutters launched today their New Year promotional offer on their polymer range of plantation shutters for $289 per square meter including installation. 

  

Western Sydney Shutters offers a large selection of plantation shutters including the extremely durable polymer range, which comes with a 30 Year Warranty. Aluminum cores with UV inhibitors will not absorb moisture, delaminate, split, crack. 

Mr Colby Campbell, Principal of Western Sydney Shutters said, “Given the durability of the plantation shutters they are excellent for kitchens, bathrooms and are impervious to damp all while being easy to clean. These not only look great in any home but are extremely functional in dealing with the strong sun conditions we experience in Sydney.” 

Here are some of the specifications for the polymer range of plantation shutters: 

+ Shutters can be controlled using a hidden tilt rod. Café style, Bi-fold and Sliding systems or Bay window designs. 

+ Style options: 50.8mm. Colonial. 

+ Frame options:  Flat frame, Bullnose frame, R frame, Z frame, Décor frame. Beaded frame. 

+ Blade options: 63, 89, 114mm 

+ 180 Degree blade rotation (single or 2-way closure) 

+ Variation from standard can be done for an additional charge. 

The once only offer is for a limited time only and will cease being offered on 30th January 2019. Some terms and conditions apply. 

 

About Western Sydney Shutters  

Western Sydney Shutters is a family owned and operated business with over a decade of industry experience. They have worked not only on the installation side, but the manufacturing side of plantation shutters.  

Given this knowledge They know what it takes to produce a product that will serve the life of your home. Knowing what timbers to use, given they have different thermal properties, and knowing where to use them is their specialty. 

There is a lot of products that look the part, but when put to the test, will fail. Western Sydney Shutters finished products bring class and elegance to any setting, all while adding value to your home.  

Areas serviced include Penrith, Blue Mountains, Richmond, narellan, Campbelltown, Liverpool, Parramatta, Blacktown, Inner West, North Sydney, South Sydney, Western Suburbs and the Sydney CBD. 

To learn more about Western Sydney Shutters and their New Year promotional offer, visit their website here: https://www.westernsydneyshutters.com.au 

 

Media Contact 

Colby Cambell 

Company:  Western Sydney Shutters 

Website:  https://www.westernsydneyshutters.com.au 

Email:  sales@ westernsydneyshutters.com.au 

Phone:  +61 047423847 

 

ElevenMedia

Hornet Marketing Confirm Continuing Strong Demand For Their Marketing Services
Sydney based Hornet Marketing, in an interview with Eleven Media, confirmed the continuing strong demand for their marketing services due in part to the firming migration numbers to the cities in which they operate.

Hornet Marketing is a market leader in providing small businesses marketing strategies tailored to suit each client’s unique circumstances. They have seen significant growth in enquiry levels at the Melbourne office and this is in line with the BBC’s recent comments that Sydney, Australia’s best known city, could soon be overtaken by Melbourne in terms of its population size.

Melbourne’s population is growing faster and has reached 4.4m, not far behind Sydney’s 4.8m people. They wrote that with a weekly median rent of A$350 ($265; £200), compared to A$440 for Sydney, it’s not difficult to see why more people are being drawn to Melbourne.

Mr Morel Hudson, Founder and Principal of Hornet Marketing that has offices in Melbourne, Brisbane as well as Sydney said this when interviewed by Eleven Media, “We have seen the continuing rise in migration numbers over the past ten years and the explosive growth of internet business over the same period. Corresponding to this has been a strong rise in demand from small and medium sized businesses seeking help from us with the planning and execution of their marketing strategies.”

Hornet marketing have over ten years’ experience in helping new and existing business owners, many new arrivals to Australia, with everything from new website design, paid advertising strategies through to sales conversion analysis and promotional brochures.

Mr Hudson said, “Many migrants arrive with extremely good business skills and services or products that they can offer the Australian public. However, they quickly find that the landscape here is different to what they are used to and seek local help to assist with their marketing strategies. We have an experienced team to assist them, and others starting out in business, to achieve the sales goals they seek.”

To learn more about their services visit their website.

About Hornet Marketing

Hornet Marketing is a small business marketing agency providing positive marketing outcomes for startups to established small to medium sized business. They assist with strategies for clients to grow sales from new and existing customers using their proven small business marketing expertise.

Media Contact Info:
Name: Morel Hudson
Organization: Hornet Marketing
Address: 15A St Johns Rd, Glebe, NSW 2037, Australia

ElevenMedia

Zoono Files Legal Proceedings Against Stayzon Retail Ventures Pty Ltd & MCS Capital Partners Pty Ltd

Zoono Files Legal Proceedings Against Stayzon

Global biotech company, Zoono Group Limited (ASX: ZNO) (‘Zoono’ or ‘the Company’), advises that it has commenced legal proceedings against MCS Capital Partners Pty Limited and Stayzon Retail Ventures Pty Limited (together, ‘Stayzon’) for breach of the Deed of Settlement pursuant to which Zoono and Stayzon ended their supply agreement in March 2018.

Zoono believes Stayzon has engaged in, and continues to engage in, making false and misleading statements in the marketing and sale of Stayzon products.  Proceedings have been filed in the Auckland High Court.  Zoono will advise of the outcome of these proceedings in due course.

For further Information please contact:

Paul Hyslop

Managing Director/CEO

+64 21 659977

paul.hyslop@zoono.com

About Zoono:

Zoono is a global biotech company that develops, manufactures and distributes a suite of scientifically-validated, long-lasting and environmentally-friendly antimicrobial solutions. Zoono’s mission is to improve health and well-being through innovative, safe, non-toxic and durable germ protection.

Zoono produces sprays, wipes and foams suited for skin care, surface sanitisers, and mould remediation treatments. The products are based on the ‘zoono molecule’, a unique antimicrobial molecule that bonds to any surface and kills pathogens including bacteria, viruses, algae, fungi and mould.

Zoono’s products have received numerous regulatory approvals and the company’s technology claims are supported by independent testing conducted in laboratories worldwide. Zoono is headquartered in New Zealand and its products are available globally.

To learn more, please visit: www.zoono.com  

Media enquiries

Julia Maguire

The Capital Network

P: +61 419 815 386

julia@thecapitalnetwork.com.au

 

Key Words:  

MCS Capital Partners Pty Limited | Stayzon Retail Ventures Pty Limited | Zoono Group Limited | ZNO

Important:
Information contained on this page was released on the ASX on 3rd December 2018 and provided by independent content providers. Eleven Media make no warranties or representations in connection therewith. If you have any questions or comments about this page please forward them via one of the methods detailed on the Contact Us page.

ElevenMedia

1800CLEANER Encourages Sydney Homeowners To Prepare For The Festive Season Ahead

Sydney based 1800CLEANER are specialist home cleaning experts and in a recent communique to clients encouraged them to prepare early for the fast-approaching festive season.

House Cleaning

The franticness of daily city life makes in Sydney makes it difficult for many householders to keep their entire home thoroughly clean on a regular basis. While regular cleaning efforts are primarily oriented towards making sure that the house is rid of obvious dirt, many corners remain untouched and airborne particle dust proves an ongoing challenge making it feel like one can never really get the house truly clean which ironically enough is true due to the fine particle dust that is primarily recirculated rather than removed.

With summer here and the festive season fast approaching, the professional home cleaning team at 1800CLEANER are helping many homeowners and encouraging others to get prepared for the entertainment season with their Advanced and Scientifically Developed Spring Cleaning Services.

1800CLEANER is a leading specialist residential cleaning company in Sydney. For the past three decades, their founder has steadily built a reputation for meticulous attention to detail, perfectionism, and unrivalled levels of customer care. When it comes to their professional home cleaning services they really are one of a kind and strive towards dust-free indoors environments. This makes the house easier to keep clean and it also stays cleaner for longer between visits as the dust-drop effect that plagues most houses is practically eliminated.

They have a team of top-notch professionals who understand what it means to deliver an excellent cleaning service and combined with state of the art equipment and intelligent cleaning methods, they provide an spectacular service to their customers that leaves their homes free of microscopic dust, pollutants, pollens, mould spores, contaminants and irritants. Uniquely they provide a scientifically developed approach to removing fine and harmful particles down to a microscopic size of 30 microns (1/30th the circumference of a human hair) which has a dramatic impact on the health of indoors environments.

Springtime is the time most individuals in Sydney begin to think of heavy-duty cleaning which would get rid of all the dirt that has been hiding in the hidden corners of their homes, and the fine particle dust that has been circulating for many years. The 21-Point Clean and Mini-Spring Cleans help to keep the entire house perfectly clean – sparkling, brightening, and glistening and incredibly dust free. Walking into a house cleaned by 1800CLEANER is like walking into the top of a mountain. People are amazed.

Mr Michael Sweet, owner of 1800CLEANER said, “Our premier service is designed to provide a complete, thorough, and 360-degree professional cleaning service for the entire home. Our smart cleaning system, dedicated workers, environmentally friendly products, and state-of-the-art cleaning equipment capture more physical debris and airborne dust; dramatically reducing microscopic contaminant levels in your home and workplace. And we don’t just say it, we uniquely guarantee it.”

1800CLEANER provide an advanced cleaning service comprised of comprehensive dusting, wiping, vacuuming, and mopping of the entire house with special attention given to the kitchen and bathrooms, removing furniture and going after hidden dust. They check all the hidden corners of the rooms and complete the “once in a while” cleaning tasks, getting on top of cupboards and ceiling fans too. And clients can add specific requirements to their tailored job-sheet including window cleaning, carpet shampooing and pressure cleaning.

These specialist spring cleaning services require at least half a day to complete. This advanced cleaning system removes all dust particles with HEPA and antibacterial filters, an ioniser, and microfibre cloths and mop heads with a dedication to hygiene and exceeding customer expectations.

For additional information, visit their website

Below is a quote from one of the many happy customers;

“What can I say. Fantastic job today. I’m gobsmacked. It’s way above my expectations. You didn’t miss a spot. I have had cleaners before and always felt ripped off but you guys go above and beyond. I am going to recommend you to everyone I know. Everyone is looking for a reliable cleaning company that actually delivers. I’ll be in touch soon for another booking. I don’t even expect the same level of service that we got today, next time, but next time, (thanks to you) our place will be a lot easier to clean. You charge probably double the other cleaning companies but deliver 5 times what they do. Fantastic service. Well impressed. Thanks”.

Wendy, Mosman.

Media Contact Information

Company: 1800CLEANER

Contact Name: Michael Sweet

Email: service@1800cleaner.com.au

Phone: +61-1800-253-263

Address: 34 Bona Vista Ave Maroubra, Sydney, NSW 2035, Australia

ElevenMedia

Apartment Investors Alerted To Buoyant Queenstown Property Market

In a recent look at the New Zealand property market, Eleven Media have alerted clients and property investors to the continuing buoyant Queenstown NZ property market.

On 10th May 2018, as widely expect, The Reserve Bank of New Zealand kept its official cash rate unchanged at a record low of 1.75 percent. The central bank last moved the key rate in November of 2016. Economic growth and employment in New Zealand remain robust and at sustainable levels.

Eleven Media found property values increased in 14 out of 16 regions across New Zealand showing the continued demand for good properties particularly as listings continue to remain low in many parts of the country. The only exceptions to the price increases were Auckland and Canterbury – down 0.6% and 0.9% respectively – but these are only very small decreases and actually suggest that these markets have stabilised now.

It has been established that overall sentiment in the residential property market has continued to track upwards this year, gaining 8 percentage points in the last quarter. This follows an increase of 13 percentage points in the previous quarter.

A net positive 36 per cent of respondents now expect median house prices to increase over the next 12 months, up from a net positive 28 per cent three months ago and 15 per cent six months ago. The highest expectations for house price rises is Queenstown, Mt Maunganui, Tauranga, and Hamilton. The median price for property in the Queenstown Lakes region is now $950,000.

For expert comment, Eleven Media asked leading David Penrose real estate agent Queenstown on his observations and said, “Property sales in Queenstown during May 2018 were extremely buoyant. There were in the vicinity of 89 transactions combining for a turnover in excess of $89,000,000 NZD. Of note 36 homes found new owners, along with 21 apartments and 11 residential sections.”

On investigation, Eleven Media found that in June there continued to be a steady number of purchasers looking to secure property in one of the most sought-after locations in New Zealand. They also found that currently, the combined population for Queenstown and Wanaka is approximately 38,000 and this is predicted to double in the next 40 years. The present visitor numbers on a peak day are 80,000 and this is predicted to increase to 138,000 in the next 40 years.

Further information on the real estate market in Queenstown can be gained by contacting David Penrose via website here: http://www.davidpenrose.com or his Facebook profile: David Penrose Real Estate Agent Queenstown

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