Welcome to this week’s wrap on North Shore property. To view our full weekly email click here.
Short and sharp this week following last weeks monthly update – if you missed it you can check it out here.
Recent Stats NZ data shows that population growth remains strong, this has been a huge underpinning factor for the housing market so obviously this is positive news. On top of this, all time low interest rates and confirmation that there will be no capital gains tax or even an extension of the five year brightline test (an unexpected bonus) can only mean positive things for the property market.
Some commentators in recent weeks have even starting touting potential for a fresh upturn in the Auckland housing market. I don’t know about that – but continued stability moving forward is definitely expected, and is what we are already seeing with stock turning over just a little bit better as both Vendors and Buyers have now adjusted to the new environment.
The marketing strategies and how we conduct our campaigns has definitely had to change and is certainly playing a part in recent successes – if you want to know more about this please give me a call.
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 is still in decline as we head into winter, with 1723 properties available on the North Shore this morning. At the start of April this figure was over 1960. Of these listings over 75% are more than a month old and 1000 of them are over 2 months old. So you can see why Winter can actually be quite a good time to list, there is very little new stock coming to the market each week, and thus far less competition.
Pretty good clearance rates achieved by both of the big brands on the Shore last week. After a couple of weeks of shockers it’s pretty good to see. Too early to comment really but give it a few more weeks and we’ll start seeing what the winter averages are looking like – also if there has been much change post the dropping of CGT and the OCR
Harcourts C&C – 48% Clearance Rate (12/25)
Barfoot* – 39% Clearance Rate (9/23)
Combined Clearance Rates*
4 week average (not enough Barfoot data) (2018 – 38%)
This Week 44% (2018 – 38%)
*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)
Campbells Bay – A stunning near new 4 bedroom family home. (Just listed below)
Takapuna – A cute unit in central Takapuna – the perfect bolt hole or starter package (Next week)
Pinehill – An entertainers dream and family home – keep an eye out for this one! (Next week)
Northcote – A super cute 3 bed bungalow (2-3 weeks)
Takapuna – A fantastic 3 bedroom townhouse (Available Off Market – please inquire)
Browns Bay – 2 houses on freehold sites, and some land
Forrest Hill – A very tidy renovated 3 bed 2 bath
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!