Unlike other real estate businesses who accepted that January would be a quiet month and took their time easing into the new year, the entire team at Ray White Damerell Group hit the road at full pace, and the results speak for themselves.
Not only were we back to work early, we worked harder than any other businesses in Greater Ponsonby. We had more team members talking with more buyers, running more inspections, and having more open homes than anyone else.
Our message to everyone in 2018 is we’re here to play. Off the back of the best December on record, we have now had the best start to a year in the history of our business. And that has really set the tone for the rest of the year.
If you’re in the market to buy a property, you don’t stop looking just because you’re on holiday, and the early conversations we had with our homeowners about coming to the market sooner than they would normally, have paid dividends. Because of those early conversations, we ensured that we had a good volume of stock for our buyers to choose from, and that resulted in record sales for us in January.
According to the media, the mood of the market is flat in Auckland, but it isn’t flat in Greater Ponsonby, and it certainly isn’t flat at Ray White Damerell Group. We’re fired up and looking forward to breaking more records in 2018!
The downshift in the number of sales in January compared to December is seasonal – it happens every year. What was really interesting this January was the annual hike in sales volumes – double that of last year. There are many contributing factors to this, but the main one in our mind was our team’s determination to make a positive and successful start to 2018.
The 12% increase in the median sale price, year on year, illustrates the unique and strong position greater Ponsonby holds within Auckland’s real estate market. With media pundits reporting a slump in prices, our suburb bucks the trend. Yes, the median is down this month, but the trend remains steady and strong, and there are very few places in Auckland that can boast that.
There is very little change in these statistics, other than a slight rise in the days to sell in sale by negotiation method. In a slower market, with no set dates for buyers or sellers to focus on, there’s no reason for them to make a decision, so the days to sell is bound to stretch out a little. The 22-day cycle of an auction campaign focuses vendors and buyers alike, and is our preferred method of sale.
Our statistics are truly outstanding when compared to the rest of the market place – the best sale under-the-hammer clear out rates in the market. And that’s not only because we have the best sale team in the area, but also because of outstanding marketing strategies that attract more buyers per property than anyone else in the business.
The reason that auctions continue to be our preferred – and most successful – method of sale for most property types is that they ensure that on one specific day you are going to see the market place in a very clear and transparent environment – and that’s true for both vendors and buyers. With the other two methods of sale, you have no idea who or what you’re up against.
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
January, as expected, was very slow. By the end of the month, however, everything was getting back to normal on both sides of the rental equation. Consequently, we currently have a good selection of excellent properties available – from one-bedders through to large family homes. Demand is high, however, with multiple applications for every property. So, tenants, get in early to secure the best properties.