Welcome to my weekly market wrap. To view the full report click here.
Welcome to the school holidays! If you’re heading away – please be safe, enjoy, and have a blast. I’m off myself for 2 weeks so I won’t be writing updates, my team will ensure these reports still come out with the various results for the week though, and Devon may even have an update or two for you.
The short story (a summary of below)
Harcourts Cooper & Co (still) have the best Auctioneers in the country at your disposal (and we have the trophies to prove it), the number of listings available is still declining, auction results are not bad and have been pretty consistent for nearly 2 months now, open home activity in some brackets is still pretty good, and it’s cold!
In This Week’s Market Wrap
– REINZ Auctioneer Championships
– Auction Results & Stats
– Listings & Stock Availability
– Coming Soon
REINZ Auctioneer Championships
A huge congratulations to Aaron Davis of – you guessed it – Harcourts Cooper & Co for taking out the REINZ Auctioneering Championships this week. A massive achievement to take the honours out of a stellar group of Auctioneers from all brands, right across the country – read more on this below…
Listings & Stock Availability
Listings continue to decline, and still at a rate of about 3% per week, with just 1428 properties available on realestate.co.nz on the North Shore this morning. It’s been a while since numbers were this low.
Another solid week for both big brands on the Shore as listings continue to tighten through the Winter months. That’s 7 weeks now of pretty consistent Auction results – something we haven’t seen for quite sometime. The improvement in results is certainly related to lower volumes and tighter listing numbers as we progress through winter. There’s less available to buy, but the buyer pool doesn’t appear to have dwindled which is of course leading to a bit more competition for properties.
Combined Clearance Rates*
4 week average 40% (2018 – 44%)
This Week 42% (2018 – 44%)
Harcourts C&C – 44% Clearance Rate (8/18)
Barfoot* – 40% Clearance Rate (6/15)
*Source: Barfoot website Please note clearance rates are for properties sold under the hammer or post negotiation that day (sales the following day are not included)
Off Market (please enquire)
Development Opportunity in Central Takapuna – 2500sqm with lake/sea/city views
Takapuna – A fantastic 3 bedroom townhouse
Devonport – A beautiful Villa in Narrowneck/Devonport (3 weeks)
Campbells Bay – A near new freestanding one level 2 bedroom home on a freehold site (2 weeks)
Campbells Bay – A fantastic modern family home with awesome entertaining and pool (3 weeks)
Castor Bay – A modern medium sized 3-4 bed home right by CBS (3 weeks)
Browns Bay – 2 houses on freehold sites, and some land
Bayswater – Talk to me – we have a few homes coming in a couple of months
Forrest Hill – A very tidy renovated 3 bed 2 bath
That’s it from me. Again if you’re heading away for the holidays, please be safe, have fun and take care! See you in a few weeks!