Welcome to this week’s wrap on North Shore property. To view our full weekly email click here.
I’m trying to free up my Saturday mornings by getting this report to you on a Friday instead. Enjoy.
The debate over potential CGT’s rages on. Again I’m going to stay out of it. I could go on and on and provide opinions on such matters at length, we all could, the reality is though that for many of us, opinions probably won’t have any effect on whatever outcome is ultimately set by our Government. But the opinions of those far more experienced in these areas than I do make for interesting reading – so I will leave you to read those articles, while I just focus on what’s happening here on the Beautiful North Shore.
In sporting news, well there’s been quite a bit of debate about North Harbour dropping Rep Rugby as well this week, a debate that could go on for sometime and given this is a property update I’ll just say if you’re unhappy with the move, feel free to give me a call for a chat.
In This Week’s Market Wrap
– Listings & Stock Availability
– Auction Results & Stats
– Properties Coming Soon
Listings & Stock Availability
The total number of properties available on realestate.co.nz on the North Shore this morning, – 1858. It’s a lot, but it’s less than last week which is comforting. It appears the Summer listing rush has tapered off and the volume of sales is now greater than new listings. I have certainly noticed in the past week or so what seems like an uptake in purchasing activity. With multiple bidders, multiple offers, and plenty of standard sales starting to happen – a positive sign I hope.
I reported the combined B&T/Harcourts auction rate last week as 33%, I’m sorry as more results have filtered in, that needs to be adjusted to 29%.
As mentioned in the section above, this week has felt more positive, with that rate climbing back up to an acceptable 33%. I say acceptable because the volume of auctions has been quite high with Harcourts selling 14 from 40 and B&T 14 from 44. 84 in total.
The clearance rates tend to drop when the volumes are higher, but given nearly triple the amount of auctions were called last week than just 2 weeks ago, and we’ve achieved a pretty similar clearance rate (33% vs 35%) – I’d say that’s pretty good going.
Some interesting stats during roughly this same week last year, 80 Auctions were called with a clearance rate of 38%. However the current four week average is 34% vs 43% during the same period last year. So a definite softening, but we already knew that.
Takapuna – A fantastic 3 bedroom townhouse (Available Off Market – please enquire)
Bayswater – 2 properties, 3 houses, loads of potential and upside
Northcote Point – A little cracker and a great bolthole or starter (Next week)
Browns Bay – 2 houses on freehold sites, and some land
Northcote – A super cute 3 bed bungalow
That’s it from me. If you have any questions as always just give me a call, otherwise we look forward to seeing you out and about this weekend!