Welcome back to 2018, to the year of the Dog, and to our new & improved market wrap – our Weekly Minute.
With 3 new listings going live, 3 auctions, 2 sales, and 3 properties signed up, plus my usual help in the community it’s been a little crazy this week so I’m sorry no video, and no stats. I’ve briefly covered the market performance in January below for you though to give you a snapshot, and we will have the full report next week for you. I could provide all the excuses in the World but for those that know me, you know I’m pretty straight up, and we just didn’t get to it this week sorry.
But given last weeks video link didn’t work – you can now watch that one instead as I’ve fixed the link for you 🙂
For those who prefer to read, you can view the full report here.
In This Week’s Market Wrap:
– Auction rates still around 50%
– Strong buyer activity, but still caution
– An air of positivity and confidence
– HIgh end activity due to shortage of stock
Volume increased for the first time in 2 years up 29% on the Shore in January!!!. Which makes for great reading but in the grand scheme of things it’s still low. Last year I mentioned how volume had been consistently been down all year and now that we are comparing to what was already down in Jan 17, it read as up!! Compared to Jan 16 Volume is still down though so don’t get sucked into flashy media headlines. But all still quite positive and a good start to the year.
Median Prices were also up 12% on the Shore but again, this is compared to one of the lowest months in 2 years so anything consistent was going to read as significantly up. But again – positive.
Days on market blew out to to 43 days, as it always does in January so no surprise and no cause for alarm there.
Cooper & Co Auctions
Short of sounding like broken record it’s really just more of the same, patchy. Last week across the 2 big brands on the shore we cleared around 50%, which is where it’s been for the past few weeks.
In the $800-$1.4m market we are still seeing good buyer activity at our opens – but this generally dropping off after the first weekend as hot buyers are quick to view but they are moving on fast with so many options available to them. Unless a property is really catching their eye they are moving on and holding out for something that is as for the most part we are finding the less compromising on what they want, especially in the early stages of their search. The higher brackets seem to have pretty good activity, due to a shortage in good property.
Listings are still on the rise with nearly 1800 properties now available on the Shore.
Off Market Opportunity
Mairangi Bay – Situated walking distance to the beach and village we have a 4 bed 2 bath home with a large rumpus type area and double internal access garaging available off market. Externally renovated – internally a little bit dated priced $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
Campbells Bay – A 4 bed 2 bath modern weatherboard on a large site with sea-views
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
All in all it all seems very similar so far with a little more positivity and confidence in the air which is great to see but it’s still early days so let’s wait and see.
Thanks for viewing and as always, if you have any questions by all means just give me a call.
Have a great week!