Welcome to my weekly market wrap. To view the full report click here.
week we are super excited to welcome Briannu Liu to our team! Brianna
joins us from another very successful Harcourts team on the North Shore,
and she brings a wealth of knowledge and experience. More below…
(Clearly we haven’t had time for new team shots yet!😂😂)
The short story (a summary of below)
Stock levels continue to fall, open homes numbers remain very high, but buyers are still quite particular. Auction clearance rates remain very strong, despite the increase in volume. Bring on Christmas!
In This Week’s Market Wrap
– Short term opportunity
– Auction Results
– Listings & Stock Availability
Volumes are starting to slow, so expect the clearance rates to climb again. Although, they are still quite high. Harcourts has cleared nearly 60% under the hammer on average now for 12 weeks straight. That’s some pretty good odds!
Harcourts C&C – 59% Clearance Rate (22/37)
Barfoot* – 48% Clearance Rate (15/31)
Combined Clearance Rates*
12 week average 56%
4 week average 54%
This Week 54% (2018 – 28%)
12 Week Average
Harcourts C&C – 59% Clearance Rate
Barfoot* – 53% Clearance Rate
* Harcourts Cooper & Co and B&T In-Room Auctions. * 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)
Listings & Stock Availability
The decline of stock continues with just 1333 properties available on the North Shore this morning on realestate.co.nz – expect this to get lower over the Christmas break. Unique visitors to realestate.co.nz were still up with over 1,000,000 Kiwis visiting the site in November, yet stock levels remained down on last year, over 7% in Auckland and nearly 20% across the country. These property hunters most likely have not been satisfied with nothing available to purchase, so expect mid January stock to garner strong interest as I’m sure a lot of people will still be on the hunt.
That’s it from me, have an awesome weekend.