Welcome to my weekly market wrap. To view the full report click here.
We are back!!
Still dealing with a bit of post holiday blues, but how good was the sport over the past few weeks! Black Caps, All Blacks – and of course our amazing ladies and their “Fossils” the Silver Ferns. SO proud to be a Kiwi. On a more local note, congratulations to East Coast Bays RFC winning the Under 21’s and the Premier 1 Championships last weekend. That’s 28 years between drinks for the prems so well done to them.
Enough sports and I haven’t had a great deal of time to immerse myself in the happening of the market to suffice to say, it still all feels a little bit better.
The Median price in Auckland remains the same as it was a year ago, so it’s a great market because of the stability it is affording, and we are seeing strong buyer interest which is also aided by the low-interest rates. Our auctions are attracting good crowds and there is an average of 2.3 bidders at the properties we are taking to auction.
The circa $1m and below market is still seeing good numbers. This activity will feed up through the price brackets as those looking to upsize from lower brackets are now able to get their properties sold. Obviously if they can’t sell, they can’t upsize which makes the bracket above a little harder to sell, and so on and so forth.
A full market report in the coming weeks but for now, just a little but of an auction update for you and next week hopefully more.
Have a great weekend!
This has been interesting to follow – I don’t normally talk about the comparisons between the two big brands – but our clearance rate is consistently 10% or thereabouts above B&T. These past few weeks that has crept out to 15-20%, and even to 25% a couple of weeks back. Just saying, if you want to go to Auction, your chances of selling under the hammer are better with Harcourts Cooper & Co, the stats don’t lie. 🙂
Combined Clearance Rates*
4 week average 35%
This Week 25%
Harcourts C&C – 38% Clearance Rate (3/8)
Barfoot* – 20% Clearance Rate (4/20)
4 Week Averages
Harcourts C&C – 45% Clearance Rate (24/53)
Barfoot* – 26% Clearance Rate (16/61)
*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
Listings have continue to decline while I’ve been away – it’s starting to actually get pretty tight out there which explains the stronger numbers through open homes. 3 weeks ago their were 1428 properties available on realestate.co.nz, now just 1351. I’m not sure wheter it’s dropped lower and is now climbing or if we are still going down, let’s find out next week.
One would expect however as we near spring, more and more properties will start coming to the market.
Off Market (please enquire)
Takapuna – A fantastic 3 bedroom townhouse
Devonport – A beautiful Villa in Narrowneck/Devonport
Campbells Bay – A fantastic modern family home with awesome entertaining and pool
Castor Bay – A modern medium sized 3-4 bed home right by CBS
Forrest Hill – A stunning fully renovated 4bed family home with awesome entertaining & pool
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, have a fantastic weekend and GO THE ALL BLACKS!!!