Welcome to our Monthly North Shore wrap for December. To view the full report click here.
After a lovely long holiday, this week we are back into full swing. Unlike me, the property market here on the North Shore didn’t go into holiday mode at all. We saw a surge in December which flowed through the Christmas & New Year period, and we are now seeing market energy & activity that is the strongest we have experienced for several years, with large numbers of determined buyers active in the market.
short, she’s humming. It’s all over the media, and it’s certainly
ringing true in the stats as well. If you are thinking of selling, it’s
the best it’s been in years. But, prices haven’t quite recovered
(although they are getting there)
In This Week’s Market Wrap
– The Short Story
– December Wrap
– Auction Results
– Listings & Stock Availability
– 2020 Predictions
– Coming Soon & Off Market
The Short Story
On the North Shore, volume was up, stock tight, prices up and days to sell down. Across Auckland, pretty much the same, although not quite as much on the Shore. Listing supply has increased since December, but is still pretty low with demand exceeding supply, and strong clearance rates as a result. Open homes numbers are very high across the board. 50+ through first weekends is pretty normal, lots of reports of 100+ and I heard of one last night that had 180 groups through the first weekend of open homes!!
December saw a significant upsurge in activity both in the North Shore market and across the country. When comparing against the same time the previous year; North Shore volumes were up 64%, prices were up 7% and days on the market reduced by 7 to 33 days! The median on the North Shore was $1,050,000, the first time it has been over $1m since March 2018 and only the second time in 18 months.
An apparent acknowledgement among the buying public that prices are likely to increase again, combined with low interest rates is fueling the confidence of investors, first home buyers endeavoring to get on the property ladder before further rises, and existing homeowners looking to upgrade.
The high sales volumes have reduced available listings and with multiple active buying segments, this is resulting in a strong demand for quality properties.
An extremely positive start to 2020 with all factors pointing towards a busy year ahead.
The Cooper & Co team have taken 60 properties to Auction so far this year, selling 42 under the hammer, providing a clearance rate of 70% over the past 4 weeks. Long may that continue.
We only have 1 week of results for B&T so far this year, they managed a clearance rate of 46% and haven’t posted any other results for the year thus far.
Compared to the same period in 2019 the clearance rates are 20-30% higher, which is a great indicator of just how strong the market is right now.
Harcourts C&C Results
This Week 73% (2019 – 33%)
Last Week 70% (2019 – 50%)
4 Week Average 73% (2019 – 39%)
Listings & Stock Availability
1388 properties are available on realestate.co.nz this morning, up around 25% since December when it dropped as low as 1100. However, still pretty tight considering we saw over 1900 properties sitting on the market mid 2019.
Prediction’s for this year are we will see continued growth, with a likely slow down in the middle of the year as we head into the elections. Depending on the result of the elections, things should kick off again a month or so later with a last minute rush into Christmas in Nov/Dec. This is of course assuming no significant new policy or change, and that we don’t feel too much impact from current global crisis.
Listings Coming Soon & Available Off-Market
Please be sure to contact us if any of the following are of interest
Birkenhead – A cute modern 3 bed – great first home buying!
Murrays Bay – A brand new weatherboard family home right opposite the school
Takapuna – A 4 bedroom fully renovated home right in the heart of Takapuna
MIlford – A luxurious 460sqm home & income about 50m from the beach
Forrest Hill – An entry level modern 3 bed 2 bath in Campbells Bay Schol Zone
Mairangi Bay – A gorgeous 4 bedroom 2 bathroom home with stunning views
Beach Haven – A coastal development opportunity
Castor Bay – An absolutely stunning renovated family home
Bayswater – A gorgeous weatherboard 4 bedroom family home
Off Market – Selwyn Cres, Forrest Hill – A 4 bed, 2 bath modern weatherboard home
Off Market – Dominion St, Takapuna – A 3 bed, 1.5 bath tidy brick & cedar townhouse
That’s it from me, have an awesome weekend, we look forward to seeing you out and about!