20 February 2018

January Market Wrap

Wow, what an incredible start to the year – a 100% increase in the number of properties sold compared to this time last year, with a 12% rise in median sale price.


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23% last month
40 sales
100% same time as
last year

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.  

Monthly Sales

Median sale price in January 2018

$1,150,000

24% last month
12% same time as
last year

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.

Monthly Trend

Price Bracket Breakdown

Average days to sell

February 2017 to January 2018

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.

22 AUCTION
25 SET DATE OF SALE
49 SALE BY NEGOTIATION

Monthly Trend

Auction sales
Set date of sale
Sale by negotiation

Our auction success rate

February 2017 to January 2018

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.

Passed in 28%
Sold 69%
Sold prior 3%
2 Average number of
registered bidders

Our listings by sale method

January 2018

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.

60% AUCTION
16% SET DATE OF SALE
24% SALE BY NEGOTIATION

Monthly Trend

Auction listings
Set date of sale
Sale by negotiation

Suburb Overview

January 2018

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.