Exhibitor: Barfoot & Thompson

Today, Barfoot & Thompson has grown into New Zealand's largest privately owned real estate company, with 75 branches and more than 2400 staff across Auckland and Northland. From witnessing the completion of the Auckland Harbour Bridge in 1959 to launching New Zealand's first fully interactive real estate website in 2001, Barfoot & Thompson has become part of Auckland's history over almost a century of change. The company remains owned and run by the founding Barfoot and Thompson families and continues to innovate in real estate.

Every day, Barfoot & Thompson accounts for 1/3 of Auckland's house sales. From local amenities to shops, schools and recreation, Barfoot & Thompson's sales specialists are committed to providing comprehensive information and advice tailored to clients' specific needs, helping you find your ideal home or commercial investment.

As well as providing comprehensive, professional real estate services covering residential homes, commercial property, rural homes and farms, Barfoot & Thompson has specialist apartment property management and large-scale development teams.

Whether it is charming white-sand beaches, the unspoilt west coast or the bustling central business district, Barfoot & Thompson knows everything that makes Auckland and Northland distinctive, understanding and loving this land inside and out.

Managing Director Peter Thompson spoke exclusively to YIJU New Zealand following 2021 NZIBES.

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YIJU: Barfoot & Thompson has sponsored NZIBES for two years now. Could you share why this event is so important to Barfoot & Thompson?

Peter Thompson：Real estate is just one part of the construction industry. Barfoot & Thompson values sharing our brand with other parts of the industry because we want to work with them. NZIBES provides a valuable, unique platform for Barfoot & Thompson to form partnerships with leading overseas and local suppliers.

At the same time, a third of the Barfoot & Thompson team is Asian. It is very important that developers, architects, designers and builders think of their names first when they need assistance.

YIJU: New Zealand's construction and property industries have experienced unprecedented prosperity over the past year. In these circumstances, what opportunities and challenges do you think the industry faces?

Peter Thompson：When it comes to the challenges of the past year, the biggest is, of course, the Covid-19 pandemic we are currently experiencing. This has led to construction delays, labour shortages and insufficient supplies of building materials. Ultimately, prices will rise and be passed on to the end consumer.

Alongside the challenges, there are still plenty of opportunities if we make the most of them. Many consumers continue to view property as a safe investment offering good returns. Meanwhile, interest rates remain very low and housing remains in short supply, particularly in Auckland, where homes sell as soon as they are built. Medium-sized apartment buildings are becoming a more accepted way of living, especially for first-home buyers.

Overall, last year saw some of the strongest growth in construction and sales we have experienced for many years, and I see a similar pattern over the next 12–18 months. Interest rates may rise slightly over the next year or two, but global interest rates will help keep ours competitive. We need to identify the size of homes to build that meets market demand, such as three-bedroom houses for first-home buyers.

YIJU: What suggestions or expectations do you have for NZIBES in 2022?

Peter Thompson：We will continue to support NZIBES and make good use of its platform. Through it, we hope to deepen our connections with more developers upstream and investors and buyers downstream, offering them the best of Barfoot & Thompson's services.

YIJU: What opportunities do you think NZIBES will bring to participating businesses and individuals?

Peter Thompson：NZIBES helps participating businesses and individuals work more closely together by sharing ideas, models, new products entering the market and overseas trends.

For example, before designing a property, consult Barfoot & Thompson's real estate agents about the potential buyers in that development segment, the kinds of homes they want to buy and their budgets. This can ensure that everyone, from designers to developers and builders, works to the same plan.