Welcome to this weeks wrap on North Shore property.
To view the 60 second video please click here.
To those who prefer to read, you can view the full report here.
In This Week’s Market Wrap:
– Watch out for attention grabbing headlines
– Auckland median prices up 3.8%
– Clearance rates stable around 35%
Well despite some attention grabbing headlines in the news over the past week or so, Auckland house prices aren’t tumbling – they’re stable or for want of a more exciting words – they’re average.
Comparing monthly stats year on year can make for great headlines but you’ve got to look at the big picture and in fact the REINZ stats just released this week showed that despite the Barfoots median and average prices were down, across the board they were actually up 3.8% across Auckland, and also up in 14 of the 16 regions across the country.
I’ll have more on this next week but in a nut shell, year on year
– Volume was up across Auckland 5% and the Shore 4%
– Prices were up across Auckland 3.8% & flat on the Shore (-$3k)
– Median days pushed out to around 43 days for both (which is a big jump on Jan but consistent with Feb 17)
Clearance rates as predicted remained pretty stable dropping just 1% to 35 as the volume called climbed yet again, now we have even more Auctions this week so expect more of the same in terms of clearance rates.
Listings are continuing to tighten as the summer listing flood slows with mid 1700’s now available on realestate.co which is a few percent down on last week. Now we expect this trend to continue as we roll on towards Easter and dear I say it, Winter.
Off Market Opportunity
34a Penzance Rd, Mairangi Bay – Situated walking distance to the beach and village we have this 4 bed 2 bath home with a large rumpus type area and double internal access garaging available off market. Externally renovated the property is priced at $1.2-$1.3m – please contact me (or your Harcourts agent) for more details.
We have plenty of new listings that have either just launched, or will be soon, be sure to check out our website for current listings, or get in touch about anything detailed below.
Takapuna – A brick 3 bed 1.5 bath semi-detached townhouse
Greenhithe – A spacious 3 bed 2 bath one level home
Browns Bay – A gorgeous 3 bed 2 bath renovated townhouse
Murrays Bay – A 4 bed 2 bath with great views
Milford – Brand new townhouses being sold off the plans
Forrest Hill – A cute & spacious 2 bed unit
That’s it from me, be sure to check out our fantastic listings at kriscunningham.co.nz, otherwise we look forward to seeing you out and about this weekend.
Have a great week!