Barfoot & Thompson | Milford

Welcome to our SOLD Milford Market Report magazine for April 2024

Our magazine contains the latest available information regarding property sales in the local area along with details of market trends, stats and tips.

Aucklanders continue to have an almost insatiable appetite for property market intelligence, so each month we will share details of the trends in your area. This is just part of our commitment to continue delivering you the highest level of service.

We’ve been locals for decades so we know the area well. Our goal is to apply this knowledge for you so you’re able to make the most of the opportunity that today’s and tomorrow’s market presents.

Please do not hesitate to contact any of our sales team if you would like more information, we would be delighted to help you with your real estate needs.

Thank you and all the best for the coming month.

Milford branch 180 Kitchener Road Milford, Auckland 0620

Henry Barfoot and the Milford team

Latest News

March Activity and Prices Breach Auckland’s Property Log Jam

Residential property sales in Auckland in March made a significant breach in the log jam of homes that remained unsold in the first two months of the year.

“March was the most active trading month the Auckland housing market has experienced in the past two years” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The log jam was breached, and we sold 1061 properties in the month, the first time we have exceeded the 1000 mark in two years, and the prices paid for those homes were the highest in 18 months.

“Both the median and average sales prices have now moved above the $1 million mark.

“The median sales price at $1,050,000 was up 8.2 percent on that for the previous month, and the median price is now 4.2 percent higher than the average median price for the previous 3 months.

“The average sales price at $1,227,495 was 10 percent higher than last month and is up 8.9

percent on the average price for the previous 3 months.

“Both the median and average price are higher than they were at the same time last year.

“In March, buyers made the decision that at current prices property represented value for money and that they were prepared to live with mortgage interest rates at current levels.

“Now that confidence has returned to the market, there is every prospect that buoyant conditions will continue through Autumn.

“New listings continued to reach the market at strong levels, with 1952 listings in the month, and at month end we had 5741 properties on our books.

“While we sold homes at the equivalent of 34 a day, the level of new listings outpaced sales and the choice of homes for sale in Auckland remains the highest it has been for more than a decade.

“A feature of March’s sales was the return in strength of buyers at the top end of the market, with 89

homes being sold for more than $2 million and of these, 27 sold for more than $3 million.

“Sales in the rural and lifestyle markets were in line with those experienced 12 months previously.

“While these markets did not experience the lift in activity seen in the Auckland metropolitan area, there was a general feeling of more confidence among vendors and buyers. Higher listings in March over those in the early months of the year gave potential buyers in these markets greater choice than has recently been available.”

Peter Thompson Managing Director

March 2024

Market share and figures

Market leaders

We sell across all price brackets and types of property.

Here’s proof why people continue to list and sell with Barfoot & Thompson.

Overall Market Share

Over the last 12 months, Barfoot & Thompson sold more property in our area than any competitor.

For the period from 1st April 2023 to 31st March 2024 we sold 41% of all properties for sale in the area – that’s over 1330 sales made by Barfoot & Thompson!

Monthly sales overview in the local area* (*Recent Sales)

Advice for

H o w t o f i n d a g o o d t e n a n t

F i n d i n g a g o o d t e n a n t i s c r u c i a l

f o r l a n d l o r d s w h o w a n t t o

m a i n t a i n t h e i r p r o p e r t y ' s v a l u e

a n d e n s u r e a p o s i t i v e r e n t a l

e x p e r i e n c e I t a l l s t a r t s w i t h

p r e s e n t i n g a w e l l - m a i n t a in e d

p r o p e r t y t h a t a p p e a l s t o

p o t e n t i a l r e n t e r s . H e r e a r e s o m e

k e y s t e p s t o f o l l o w t o f i n d t h e

p e r f e c t t e n a n t .

P r o p e r t y p r e s e n t a t i o n :

A c l e a n ,

t i d y , a n d w e l l - p r e s e n t e d

p r o p e r t y w i l l a t t r a c t m o r e

t e n a n t s B e f o r e l i s t i n g t h e

p r o p e r t y , e n s u r e i t i s i n t o p

c o n d i t i o n T h i s i n c l u d e s : h o u s e

w a s h i n g , g u t t e r c l e a n i n g , t i d y i n g

g a r d e n s , m o w i n g l a w n s , a n d

c l e a n i n g b o t h t h e i n t e r i o r a n d

e x t e r i o r t h o r o u g h ly

A c c u r a t e p r i c i n g :

R e s e a r c h

c o m p a r a b l e p r o p e r t i e s i n t h e

a r e a t o d e t e r m i n e a f a i r r e n t a l

p r i c e O v e r - p r i c i n g m a y d e t e r

p o t e n t i a l t e n a n t s w h i l e u n d e r -

p r i c i n g c o u l d l e a d t o m i s s e d

r e v e n u e I f y o u ’ r e n o t g e t t i n g

s o l i d i n t e r e s t i n t h e f i r s t s e v e n t o

1 0 d a y s , t h i s o f t e n m e a n s t h e

a s k i n g r e n t a l i s t o o h i g h

M o d e r n a m e n i t i e s :

T e n a n t s a r e

d r a w n t o p r o p e r t i e s w i t h

m o d e r n k i t c h e n s , b a t hr o o m s ,

a n d a m p l e s t o r a g e s p a c e U s i n g

a r e a s l i k e a g a r a g e o r s h e d f o r

s t o r a g e o f t h e l a n d l o r d ’ s

p o s s e s s i o n s i s n o t

r e c o m m e n d e d H o m e s i n m o d e r n

c o n d i t i o n h a v e t h e m o s t d e m a n d

a n d a t t r a c t p r e m i u m r e n t s

E f f e c t i v e m a r k e t i n g :

L i s t t h e

p r o p e r t y o n m u l t i p l e p l a t f o r m s t o

r e a c h a w i d e r a u d i e n c e H i g h -

q u a l i t y , a c c u r a t e p h o t o s a n d

c l e a r , d e t a i l e d d e s c r i p t i o n s i n

a d v e r t i s i n g a r e e s s e n t i a l

I n c l u d e m a i n t e n a n c e :

I f t h e

p r o p e r t y h a s a f e a t u r e g a r d e n ,

s p a o r p o o l , i n c l u d e m a i n t e n a n c e

a n d u p k e e p i n t h e r e n t t o a t t r a c t

m o r e t e n a n t s , w h i l e e n s u r i n g

s p e c i a l i s e d m a i n t e n a n c e i s

u n d e r t a k e n

P r o p e r t y v i e w i n g s :

S c h e d u l e

v i e w i n g t i m e s a p p r o p r i a t e l y f o r

w o r k i n g p r o f e s s i o n a l s , t a k i n g i n t o

a c c o u n t l o c a t i o n a n d t r a f f i c

A r r i v e e a r l y t o v i e w i n g s a n d b e

p r e p a r e d t o a n s w e r a n y

q u es t i o n s p o t e n t i a l t e n a n t s m a y h a v e

S t r e a m l i n e a p p l i c a t i o n s :

M a k e

t h e a p p l i c a t i o n p r o c e s s

s t r a i g h t f o r w a r d , w h i l e c o l l e c t i n g

a l l t h e i n f o r m a t i o n y o u n e e d , a n d

a c t p r o m p t l y o n v e t t i n g p o t e n t i a l

t e n a n t s C o n d u c t t h o r o u g h

Landlords

b a c k g r o u n d , r e f e r e n c e , a n d

c r e d i t c h e c k s t o e n s u r e t h e

s u i t a b i l i t y o f a p p l i c a n t s K e e p l i n e s

C l e a r c o m m u n i c a t i o n:

o f c o m m u n i c a t i o n o p e n w i t h

t e n a n t s t h r o u g h o u t t h e l e t t i n g

p r o c e s s E n s u r e t h e t e r m s o f t h e

t e n a n c y a g r e e m e n t , i n c l u d i n g

d e p o s i t a n d b o n d c o l l e c t i o n a n d

t e n a n t r e s p o n s i b i l i t i e s , a r e

c l e a r l y u n d e r s t o o d b y b o t h p a r t i e s

B y f o l l o w i n g t h e s e s t e p s a n d

p r i o r i t i s i n g t h e n e e d s o f b o t h t h e

p r o p e r t y a n d p o t e n t i a l t e n a n t s , l a n d l o r d s c a n i n c r e a s e t h e

l i k e l i h o o d o f f i n d i n g a r e l i a b l e

a n d r e s p o n s i b l e t e n a n t f o r t h e i r

r e n t a l p r o p e r t y

Louise Benson Head of Property Management

GET A FREE RENTAL APPRAISAL

W h a t o u r C u s t o m e r s S a y

K r i s t y L

Kristy provided outstanding service Her se, patience, and t understanding ficient transaction nterests, offered tained positive he experience less alent, I achieved a xpectations

L o u i s e B e n s o n

Louise has proven to be efficient, dly, and professional ork with I appreciate in contacting me am confident that way that keeps both py Knowing that my d after gives me full

E l m a r i e S t e e n b e r g

Easy to work with, Elmarie made a very essful task easy oughout the process, ur needs, offering t lost and available to take our in extra effort to help , Elmarie made the easure

J e s s i e Z h a n g

Professional, the best of the best! Jessie rovided excellent and mazing service to sell my ed a very satisfying price market! Highly

experti commu made bu al Her un nd prom p communication reduced t Eileen's punctuality, resp attentiveness showcase h top-notch service I highly Eileen for achieving outstanding results with integrity and excellence

o n M a c k a y

n provided an ellent house ying He is a very and at l intelligence, onal style His nt work and time xperience smooth and enjoyable Highly recommended Thank you, Don!

Meet the team

As the Branch Manager of Barfoot & Thompson Milford, I lead a dynamic team dedicated to delivering top-notch real estate services to our clients. We help homeowners to achieve outstanding sales results, and help landlords to maximise their portfolio returns while minimising hassles.

My grandfather, Val Barfoot, founded Barfoot & Thompson 100 years ago as a new migrant from England. The company has grown to be the market leader in Auckland, but has never lost sight of key family values like integrity and respect. A focus on performance and service has seen Barfoot & Thompson achieve international recognition as the top real estate agency in Asia Pacific - the first New Zealand agency to do so.

I’m a proud North Shore local, and started my real estate career here in 2009. I’ve also had the privilege of working in our branches all across Auckland as a relieving manager, and I opened our Millwater branch in 2017 before relocating to Milford in 2019.

At Barfoot & Thompson, we believe in looking after our people and supporting our local community, but above all we believe in putting our clients first. I am committed to helping my team deliver exceptional real estate services to our clients in a positive and collaborative work environment. Feel free to reach out to me if you have any real estate needs or questions. I love meeting our clients in person and I always have time to talk.

Property Management team

Residential Sales team

Anna An 021 686 706

Lydia Feng 021 024 73046

Effie Hu 027 818 3666

Don Mackay 027 525 0100

Elmarie Steenberg 021 265 0252

Sophia Zeb 020 406 40262

Chris Cai 021 258 3328

Kerry Graham 027 270 6726

Alvin Li 021 720 520

Tim Mahon 027 298 7399

Angela Sun 027 270 8988

Jessie Zhang 021 0283 1345

Mark Caisley 021 919 804

Ying Han 021 228 8555

Cathy Li 021 779 783

Rebecca Newsome 021 321 838

Linda Teng 022 0296 426

Faye Cui 021 269 5985

Chris Harvey 022 140 0302

Kristy Li 021 189 9366

Shirley Pei 021 1059 111

Lily Wang 021 887 918

Kai Deng 021 902 628

April Howard 021 688 411

Allen Ma 021 861 230

Victor She 021 917 197

Eileen Yu 021 886 090

TIME TO SELL! OFFERS & NEGOTIATION

TOP TIPS

Why working with Barfoot & Thompson can help sell your home.

In our recent editions we have examined the steps involved in selling your home from getting ready to sell right through to the ins and outs of open homes.

This article discusses what to expect when the time comes to look at offers.

Remember we have more information and a range of videos on our website to help you make the very best choices.

barfoot.co.nz

barfoot.co.nz/sell/selling-guide

Now it gets exciting!

The marketing has hit its targets and now buyers want to proceed with an offer...

Auction

As we all know: where there are offers, often negotiation is involved!

How an offer is made, along with the particular terms and conditions on which a sale depends, will be determined to some extent by the method of sale you have chosen. In every case, your Barfoot & Thompson salesperson will be there at every step to guide and assist you - and liaise between you and the buyer.

When selling by auction you will have set terms and conditions of the sale together with our auction department and your solicitor.

This is recorded in an agreement that will be sent to interested parties during the marketing campaign so they are fully informed before auction day.

During the weeks leading up to the auction, a buyer might ask for a variation on your terms and conditions. For example, a party may ask you to agree to a different possession date, should they be the highest bidder on the day. This is formally documented and signed off

by both parties well before the auction; and the decision to agree, or not, is always yours.

Sometimes, an acceptable offer is made before auction day, which may lead to the auction being brought forward, this is referred to as a pre-auction offer. In this scenario, the acceptable offer serves as the opening bid, while other interested parties are given the opportunity to bid upward from there.

Once the property has sold under the hammer, you and the purchaser are asked to sign the contract documenting the sale, which will then be distributed to your and their solicitors for processing. Arrangements

for a deposit are made (usually by cheque or by bank transfer the same day), and the remainder of the purchase price is due on settlement day. Should the property not sell at auction, then there is room for conditional buyers to enter the arena and an agreement can be negotiated.

What can I expect on auction day?

For detailed information about all of the steps and what to expect on Auction day head to our website – we have dedicated pages for both buyers and sellers including videos from our salespeople and top auctioneers.

Sellers guide to auctions barfoot.co.nz/sell/selling-methods/ guide-to-auctions

Buyers guide to auctions barfoot.co.nz/buy/ways-to-buy/ auctions

Negotiation

If you have decided to sell by negotiation offers can be presented at any point. As with auctions and tenders, offers are presented in writing on a sale and purchase agreement. You will consider the terms and conditions in the agreement, as well as the price in order to determine whether you would like to accept or negotiate further via a counter offer.

Once you have accepted an offer, signatures are required on a final document and this agreement will be distributed to both parties’ solicitors. If the agreement is contingent on conditions, then the purchaser has a number of working days specified to satisfy these and the agreement becomes unconditional once this is completed - meaning your property has sold!

Sometimes an unconditional offer is made where the only aspect left to negotiate is price. This is called a ‘cash unconditional’ offer and once both parties agree on the price, the property is sold.

Tender

If you have decided to sell by tender, your salesperson will present you with offers at the set day and time the tender closes. The terms and conditions in the agreement as well as the offered price will help determine which offer you would like to accept, or whether you would like to negotiate further.

Offers are private and confidential - they are for your consideration, for which you are allowed to allocate a time frame of five working days. The terms and conditions in the agreement, as well as the offered price will be determining factors in your decision which offer you would like to accept or negotiate further.

Once an offer is accepted, you will sign it and the agreement will be distributed to the solicitors for processing. If the agreement is contingent on conditions, then the purchaser has a number of working days specified to satisfy these. When these conditions complete, the agreement becomes unconditional and the property is sold.

During this period your sales person as well as your solicitor will be working together with the buying party to facilitate the sale at every step.

More info:

Remember we have a wide range of information for buyers and sellers including many videos and step by step guides on our Youtube channel. www.youtube.com/user/ BarfootThompsonNZ

Head to our website for more or contact one of our team directly. We’re happy to help. barfoot.co.nz

Recent Sales

The following pages show a summary of sales in Milford, Castor Bay & Forrest Hill made by all selling agencies during March 2024.

Our sales data includes information submitted by the selling agency and may include some private sales. Where details of a particular sale may not have been able to be fully verified, it may be omitted from our reports.

Please do not hesitate to contact any of our sales team if you would like more information, we would be delighted to help you with your real estate needs.

1 Corunna Road

$1,270,000 $1,350,000

26B Corunna Road

$1,442,500

14 Muritai Road

$5,450,000 $3,750,000 CV

4/70

Nile Road

$757,500 $850,000 CV

3/15 Omana Road

$1,235,000

24 Quebec Road

$1,100,000 $1,170,000

15A Rangitoto Terrace

$1,802,000 $1,880,000 CV

1/135 Shakespeare

Road

$1,251,000

1/137 Shakespeare Road

$1,185,000 $1,450,000

8 Sylvan Park Avenue

$3,735,000 $3,525,000 CV

Castor Bay

49A Aberdeen

Road

$1,300,000 $1,300,000 CV

Size Sale price Crosslease Bedrooms 3 Floor size 187

97A Beach Road

$1,655,000 $1,825,000 CV

4C Braemar Road

$2,210,000 $2,250,000 CV

93B East Coast Road

$933,000 $950,000 CV

19A Heathcote Road

4

$1,625,000 $1,600,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 140

18B Marama Street

$2,350,000

13 Prestige Place

$1,935,000 $2,120,000 CV

Forrest Hill

1/74 Blakeborough Drive

$871,000 $820,000

13 Bond Crescent

$1,950,000 $2,200,000 CV

4/70 Bond Crescent

$1,272,000

Lot 3/198 Forrest Hill Road

$1,065,000

198E Forrest Hill Road

$1,065,000

39 Gordon Avenue

$1,805,000 $1,640,000

1/5 Keldale Place

$825,000 $920,000

2/5 Keldale Place

$785,000

2/18 Kenmure Avenue

$1,190,000

53 Kenmure Avenue

$1,810,000

1/42 Knightsbridge Drive

$1,460,000 $1,600,000 CV Land Size Sale price Crosslease

48B Seine Road

$1,655,000

91 Selwyn Crescent

$1,265,000

13C Springfield Street

$1,010,000

43 Sunnynook Road

4

3

3

$1,110,000 $1,150,000 CV Land Size Sale price 425 Bedrooms 3 Floor size 89

This publication shows data regarding a wide selection of published residential property sales that have recently occurred. It includes information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. Where data is not publicly available, an individual sale may have been excluded from the average results and tallies shown in this report. Every reasonable effort has been made to ensure the accuracy of the information. Barfoot and Thompson Limited (REAA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

180 Kitchener Road, Milford, Auckland 0620

Residential Sales 09 489 5049

Property Management 027 4319536

Email milford@barfoot.co.nz

barfoot.co.nz/milford

Barfoot & Thompson Milford