A very Happy New Year, and welcome in 2021. We hope you all enjoyed a well-earned break after a racing finish to the end of 2020.
If we take a look back into December, we saw more of the same as the previous months, with first-home buyers out in force, fuelled by the natural urgency of finding a place before the Christmas break. Then, en masse, they all switched off and took a break. Phew!
Come January, though, with buyers rested and all fired up by the lower interest rates, the gates swung back open with same momentum, if not greater. That first week back saw extraordinary buyer enquiry and open home attendance, and the offers and multi-offers have flown in, causing auctions to be brought forward already. The news is all good for vendors.
Listings are steady as you go, being topped up by a number of landlords relinquishing their rental investments onto the market ahead of the new legislation looming in February – Great for the first-home buyers.
December turned into another record-breaking month, bringing with it a personal best of sales for our Ponsonby office. In Greater Ponsonby sales, the market was up on the previous month and the year, with a significant year-on-year gain of some 49 percent in sales numbers, and the median value up 11 percent, which was reflected in the increasing number of sales occurring above the $3m level.
Central city apartments have come back into favour with many more sales in December, and median prices rising over 50 percent for the month. Mt Eden and the surrounding area was a very desirable destination for buyers, too, with the month up 11 percent. With the help of the team, our vendors enjoyed a very good share of that bounty.
Out in the Western Fringe, sales volumes were up a 30 percent year on year, with median sale price moving ahead 8 percent from last month – now sitting at $1.4m+.
A massive 22 percent of the sales reported across these western suburbs were in excess of $2m. The local area around Te Atatu also enjoyed a lift in in its sales median, with a very good spread of sales across the $600k to $1.5m value – so, something for everyone here.
Titirangi is still surfing a wave of interest, especially from those seeking a cityscape view. Sales numbers are up 45 percent on last year and median values up 20 percent. There is still great buying to be had in this area – from $1m to over $2m – offering exceptional value in a lovely bush and village setting.
Not wanting to miss out on the action, the North Shore enjoyed a 50 percent increase in sales volumes year on year, plus a jump of 15 percent in the median sale price. A mere 8 percent of the sales reported were under $800,000.
If you are thinking of selling, the time could not be better, with less days on market driven by the competition of the buyers to secure their home in all parts of the market.
Please call us for a market analysis of your property value. We offer factual information and unparalleled experience to assist you in your decision making, whether it is a short or long term strategy.