Welcome to my weekly market wrap. To view the full report click here.
Short and sharp this week. The market on the Shore continues to hum, clearance rates are strong, and stock levels have remained static for 4 weeks in a row as demand continues to exceed supply. A sale on Byron Ave made the papers, a 2 bedroom attached unit selling for $1.4m. Crazy. The Auction was brought forward around $1.1m which seemed pretty good already, until a couple of investors apparently went to town. This is very reminiscent of the frequent stories of old.
The first case of Coronavirus has hit our shores, will this change anything? What are your thoughts?
In This Week’s Market Wrap
– The Short Story (no need, covered above)
– Auction Results
– Listings & Stock Availability
– New & Off Market Listings
C&C Auction success continues with 65% sold under the hammer this week, and 66% sold under the hammer so far in 2020.
Harcourts C&C – 65% Clearance Rate (20/31)
Barfoot* – 59% Clearance Rate (26/44)
Combined – 61% (46/75)
Harcourts C&C Results
This Week 65% (2019 – 33%)
Last Week 61% (2019 – 50%)
4 Week Average 67% (2019 – 39%)
12 Week Average 63%
*Source: Barfoot website – Thursday In-Room Results | 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
1387 properties are available on realestate.co.nz this morning, eerily that is exactly the same as last week. Still no big surge in new stock just yet, and still a far cry away from the 1900 plus properties on the market this time last year. The pressure on supply remains.
New & Off Market Listings
Please be sure to contact us if any of the following are of interest
New this Week
9a Clematis Ave, Murrays Bay – Brand new and ready to go, first open homes this weekend. View online here
Available to View Pre-Marketing
Karaka St, Takapuna – A 4 bed, 1 bath one level weatherboard home
Sylvia Road, Hillcrest – A 6 bedroom Legal Home & Income – 3bed + 3bed
Hythe Tce, Mairangi Bay – A gorgeous 4 bedroom 2 bathroom home with stunning views
Gulf View Rd, Murrays Bay – A very tidy cedar weatherboard 4 bed 3 bath family home
Bracken Ave, Takapuna – A 4 bedroom fully renovated home right in the heart of Takapuna
Verran Rd, Birkenhead – A cute modern 3 bed – great first home buying!
Selwyn Cres, Forrest Hill – A 4 bed, 2 bath modern weatherboard home – Circa $1.2m
Dominion St, Takapuna – A 3 bed, 1.5 bath tidy brick & cedar townhouse – Circa $1.2m
Forrest Hill – An entry level modern 3 bed 2 bath in Campbells Bay School Zone
Beach Haven – A coastal development opportunity
Bayswater – A gorgeous weatherboard 4 bedroom family home
Castor Bay – A gorgeous fully renovated 4 bed townhouse w stunning views
That’s it from me, have an awesome weekend.