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17 November 2017

October Market Wrap

To say we’re being fed mixed messages by the mainstream media regarding the current state of the Auckland real estate market is a huge understatement.


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86% last month
54 sales
23% same time as
last year

It’s a truism that real estate is all about consumer confidence, and this year’s election created a greater degree of uncertainty than usual, with the extreme mood swings of Andrew Little’s departure to the near hysteria of Jacinda mania – not forgetting the Winston Peters’ gamesmanship. Now all that’s over, and we are satisfied that the world is not about to end, life has returned to some sort of normality, and this is shown in the steep increase in sales volumes for October.

Monthly Sales

Median sale price in October 2017

$1,433,000

3% last month
11% same time as
last year

We have said on many occasions that during times of uncertainty the well heeled are the first to avoid the market. By removing the high end of the market it is obvious that the median price will fall. However, despite sensationalist media headlines, that doesn’t mean prices have fallen. Comparing like for like, it’s almost impossible to find a property that has sold for less that it would have done a year ago.

Monthly Trend

Price Bracket Breakdown

Average days to sell

November 2016 to October 2017

Despite repeated media articles, usually quoting the ill informed and the poorly trained, our ‘days to sell’ figures speak for themselves – that properties sold by auctions consistently take around half the time to sell as those marketed by negotiation. We are absolutely convinced that in the Greater Ponsonby marketplace, a quality auction campaign is likely to achieve a higher price within a much shorter period of time, if marketed by people trained and experienced in this form of marketing.

22 AUCTION
26 SET DATE OF SALE
44 SALE BY NEGOTIATION

Monthly Trend

Auction sales
Set date of sale
Sale by negotiation

Our auction success rate

November 2016 to October 2017

This month’s figure of an 86% success rate is absolutely outstanding! Even during periods of uncertainty, such as we’ve just experienced, when numbers of registered bidders decreases, this open, transparent, competitive method of sale far exceeds the success rates of any other approach to selling your property.

Passed in 11%
Sold 86%
Sold prior 3%
2 Average number of
registered bidders

Our listings by sale method

October 2017

When we are achieving such a consistently high rate of success with our auctions, why would a well-informed seller choose an alternative method? Our success is no accident of circumstance, however. All our auctions are carried out by a highly experienced team of professionals, who are continually refining and improving this complex method of sale.

81% AUCTION
3% SET DATE OF SALE
16% SALE BY NEGOTIATION

Monthly Trend

Auction listings
Set date of sale
Sale by negotiation

Suburb Overview

October 2017

This map gives you an overview of total sales and median price across the Greater Ponsonby area. Hover over the yellow dots for the statistics on each suburb.

The Rental Market

As we approach the festive season, the rental market has moved up a gear and is now in full swing as tenants try to settle in before Christmas. Consequently, good properties are being snapped up very quickly. Also, with post-election confidence in the air, tenants are now feeling more comfortable about making a long-term commitment to where they want to live, resulting in a particularly sharp resurgence in the high-end rental sector.