Wealth of Experience
The market is giving us a strong message… that it’s no longer enough to simply list a property, then sit back and expect it to sell with a great result.
Although it would be an exaggeration to say that the market is buoyant, homes in our part of the city are continuing to sell at a steady rate – though there are fewer buyers competing for each property – and we are clearly seeing a differentiation between the effectiveness of engaging a skilled professional, compared to someone less adept or experienced in the art of selling homes. And that’s important.
This has become a market where skills and knowledge achieve markedly better results; where engaging a company that has positive ‘learning’ approach to real estate will pay you dividends. By a ‘learning’ approach, we mean a positive philosophy that adapts to fluctuations in the market, adopts new technologies, and is conscious of changing customer expectations.
These days, it is important to choose a dynamic and forward-thinking salesperson, backed by a company that has a strong commitment to change, improvement, continuing education and innovation, as opposed to one that simply continues to do what they’ve always done, ignorant of the world changing around them. Ray White Damerell Group is that company and it has those sales people.
For a whole host of reasons, including lifestyle, proximity to the CBD and harbour, arts facilities, public transport, plus a variety of other factors, Greater Ponsonby residential real estate continues to show trends not evident in the Auckland market overall, but it is getting tougher out there, and it’s a market where only the experienced and progressive will achieve the best results for their clients.
What a great time to be making real estate decisions. With values now stable after the longest and largest growth spurt in our history, vendors can now choose to go to the market when their own personal circumstances dictate, without panicking that the market will move away from them if they don’t quickly find another property to purchase. Interestingly, this has translated into a slight increase in sales, both month on month and year on year.
Approximately 50% of sales are within $500,000 either side of the median price of $1.51m. This said, however, we have seen a number of homes selling for $5m within the Ponsonby, Grey Lynn, Freeman’s Bay area. Interestingly, it’s been 20 years since the first $1m sale occurred in Ponsonby. Will the introduction of elements of the Unitary Plan, partially geared towards re-introducing ‘affordability’ into the market achieve a plateauing of prices, or will we see house prices exceeding $25m in another 20 years?
Month on month we witness the vast difference between the short and effective marketing campaigns offered by auctions – typically three weeks – versus the much longer and less direct sales cycle delivered the other two methods of sale. At Ray White Damerell Group we are fully committed and have vast experience in this highly successful method of marketing and selling houses.
Although fewer auctions are selling ‘under the hammer’, there are individual sales people whose skillsets are such that their personal results continue at near perfect levels. Our sales teams develop complex strategies around managing the auction process – with each strategy tailored to the unique circumstance surrounding every home we sell. These teams are achieving an increased number of pre-auction sales and, if properties are not sold under the hammer, the correct strategy normally achieves a sale very soon after the auction.
This is a market in which a skilled team will achieve the best results when using the auction process to sell a property. Our highly experienced teams of salespeople and marketers have a clear understanding of the benefits of auctions, and spend a huge amount of their time ensuring we are at the forefront of the industry. It’s not surprising, therefore, that Ray White Damerell Group’s success rates at auctions are some of the best in the industry. And as long as our achievements show the benefits of auctions, the majority of prudent and informed sellers will continue to choose this method to market their homes.
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
With thousands of Uni students descending on Auckland looking for digs, Greater Ponsonby is a prime target because of its proximity to the CBD and public transport, the allure of the night life, plus there’s an ideal stock of housing – large four-bedroom villas, which are great for sharers. Add to that all the maintenance work our team is currently carrying out in preparation for winter – there’s a reason why they call it Mad March!