Welcome to this weeks wrap on North Shore property.
To view our full weekly email click here.
Welcome to the first day of Spring, finally. It even looks like Spring out the window, for now anyway…
Well we all know what Spring means, better weather, pretty flowers, trees blooming, and more properties on the market, along with more buyers to buy them.
Last week was pretty comprehensive and there is nothing really new to add this week, except for a brief preview on an exciting new luxury boutique apartment project, so please make sure your read that and let me know if it could sound like you. Otherwise grab a cuppa & get on with your Saturday.
In This Week’s Market Wrap
– Looking to downsize?
– Does Spring mean more activity?
– Auction rates pretty normal
– It’s time to start planning pre-xmas campaigns
– Coming Soon
Looking to Downsize?
We are just about to launch an exclusive luxury boutique apartment project to the market in a highly sought after area here on the Shore. We haven’t seen anything quite like this and with only 15 available now, we don’t expect they will last long. So here is your wee lead in, if you’re thinking about downsizing in the next 1-2 years and think an apartment in a central location with sea-views could be your thing, be sure to let me know in the next few days.
Does Spring mean more Activity?
Absolutely. Typically the listing rush doesn’t start till after the school holidays but you will see (and have already been seeing) listings begin to increase as Vendors try to beat the rush of new stock by going to market now, while there is still less competition. Which is a good strategy. Based on the level of people through our open homes, and the views we are receiving online, there are loads of people in the market to buy. They are still being fussy of course.
Do I expect to see any change in the reduction in volume we’ve been seeing here on the Shore compared to last year? Nope. Volume has been steadily decreasing for about 3 years, and I don’t see any factors that suggest this might change. Yes I did just say 3 years. In fact only 2 out of the last 34 months have recorded increases in volume, year on year.
Across Auckland volume appears steady as their have been a lot of new developments and apartment projects that have been released to the market which have boosted capacity and therefore volume. On the Shore we haven’t had as many, but a few bigger apartment projects have recently been released which may help to bolster listing numbers. In terms of day to day houses – I expect these levels to continue to decline year on year, or at best remain steady.
Cooper & Co Auctions
Back to normal again this week at 43% sold under the hammer, bringing the combined 4 week average to 39% – but remember this includes 1 well below parr week which is throwing things slightly.
Selling this Year? (repeat blurb)
If you are planning to sell or move this year – it’s time to start making plans because before you know it Christmas will be upon us and you’ll have missed the boat. We are already starting to lock in our October & November campaigns as with the median time to sell around 40 days, you really want to ensure you have enough time to market and sell your home before our lives go crazy with Christmas and buyers start to switch off in December. Food for thought anyway.
We have plenty of new listings in the pipeline and coming soon, be sure to check out our website for current listings, or get in touch about anything detailed below.
Forrest Hill – Do Up Opportunity in the $800’s available now!
Milford – Brand-new luxury apartments (next week)
Browns Bay – A brand new 400sqm 6 bedroom home (2 weeks)
Greenhithe – A large 370sqm approx modern brick family home (2 weeks)
Browns Bay – Do-Up Opportunity – Home & Granny in Urban Zone with dev. potential (2 weeks)
Milford – A gorgeous 1920’s character family home with seaviews on a large section
Forrest Hill – An entry level 3 bedroom home
Takapuna – A sunny semi-detached townhouse
Takapuna – Mixed Use Opportunity, great home or office
Campbells Bay – Brand new townhouses off the plans
Sunnynook – A brand new family home on a freehold site
Sunnynook – A nicely renovated 3 bedroom home
That’s it from me, if you have any questions as always just give me a call :o)