Welcome to this week’s wrap on North Shore property. To view our full weekly email click here.
Really short this week as next week we will have the REINZ stats so will be able to provide a full monthly report for Feb 2019. But it’s probably going to read along the lines of the bulk of NZ is performing well, while in Auckland sales volume and prices have eased with high stock levels contributing to what is being touted by many as a buyers market.
On a positive note whilst there are no stats to reflect it, on the ground it does feel like there has been a bit of uplift. We are currently negotiating on multiple properties, and have a number more that have been conditionally sold. People are buying, vendors are selling, and it maybe that we are through the adjustment phase.
In This Week’s Market Wrap
– Listings & Stock Availability
– Auction Results & Stats
– Coming Soon
Listings & Stock Availability
The total number of property available on realestate.co.nz on the North Shore this morning, 1865 properties. Last week 1851, the week prior 1881. We seem to be hovering at the moment with sales volume just keeping up with the level of new listings.
Harcourts C&C – 9/30 – 30% Clearance Rate
Barfoot & Thompson* – 8/38 – 21% Clearance Rate
Combined Clearance Rate – 25%
Current 4 week average 30%
This time last year 36% (Combined)
Not too exciting last week but indicative of the market and whilst a little low for us, not far off the average. We had 25 bidders at the 30 auctions, and over 350 people in attendance – so people are certainly out there.
And here’s a positive spin for you (we love these). You have at least a 30% chance of being sold 50% faster than the median DOM for at least a fair market price, if not a GREAT price!!
*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)
Takapuna – A fantastic 3 bedroom townhouse (Available Off Market – please enquire)
Bayswater – 2 properties, 3 houses, loads of potential and upside
Browns Bay – 2 houses on freehold sites, and some land
Northcote – A super cute 3 bed bungalow
Albany – A modern brick and weatherboard family home
Torbay – A tidy 3 bed townhouse
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!