Lisa MacQueen & Verena Ryan - Barfoot & Thompson

REMUERA MARKET REPORT November 2020

barfoot.co.nz/remuera

Welcome to our next issue of SOLD! Our magazine contains the latest available information regarding property sales in Remuera 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.

Lisa MacQueen and Verena Ryan

Lisa M 021 221 8622 E l.macqueen@barfoot.co.nz www.barfoot.co.nz/l.macqueen

Verena M 027 522 0773 E v.ryan@barfoot.co.nz www.barfoot.co.nz/v.ryan

Click here to view our Property Live magazine updated weekly with fresh to market listings.

Remuera branch 417 Remuera Road Remuera, Auckland 1050

P 09 524 0149 E remuera@barfoot.co.nz barfoot.co.nz/remuera

LATEST NEWS Average Auckland House Price Exceeds $1 Million In October The era of the average sales price of Auckland residential property exceeding $1 million has begun with October’s average sales price hitting $1,045,104. At the same time, the median price set a new high of $967,000.

Peter Thompson Director

“Both are significant milestones in terms of house prices in Auckland and are a reflection of current demand for property and people’s confidence in the medium term future of Auckland property prices,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“While there is strong interest in property from first time buyers and investors, the vast majority of homes continue to be bought by existing property owners who are moving forward with their lifestyle decisions in terms of their housing ambitions.

“For existing homeowners the financial gap between their present and next home is manageable, and they are taking advantage of low interest rates to transition to the next stage of their lives.

“We have been building towards the new benchmark prices for the past three months with prices rising steadily, and in October property sales at 1,319 were the strongest they have been in a month for more than four years.

“The combination of high new listings, which at 2,119 for the month were the highest in any month for more than three years, and low interest mortgage finance being readily available, has led to fierce competition developing among buyers.

“The average price in October increased by 4.8 percent on that from the previous month and the median price increased by 4 percent.

“On a year-on-year basis the average price has increased by 11.3 percent and the median price by 14.4 percent.

“The number of property sales in the pipeline agreed and awaiting completion is extremely strong, and this will ensure that property sales numbers through to year end will remain high.

“Property sales for more than $1 million accounted for 49.5 percent of all sales in October. Until recently, they accounted for about a third of monthly sales.

“Sales for more than $2 million are no longer an exception, and in October we sold 102 homes in this price category, representing 7.7 percent of total sales.

“Conversely, 4.5 percent of sales were for properties that sold for under $500,000.

“At month end we had 3,925 properties on our books, the highest number in four months and 2.7 percent higher than at the same time last year.

“For the fourth consecutive month rural and lifestyle property sales have been strong and in October sales in dollar terms were more than double what they were in October last year.

“Buyers are seeing the lifestyle market as offering good value for money in comparison to the urban market and this is leading to a shortage of available listings.”

Remuera sales data October 2020

Average sale price:

$2,573,833

Highest sale price:

Median sale price:

Lowest sale price:

Median CV:

$10,000,000 $675,000

Total sales October 2020: 73 Total sales October 2019: 48 Total monthly sales are up 52.1% compared to the same period last year.

$2,065,000 $1,712,500

Sales $0-$1M: 8

Sales $1M-$2M: 28

Sales $2M-$3M: 18 Sales $3M-$4M: 5 Sales $4M+: 14

Talk to us about Barfoot & Thompson’s number of days on the market for our different sale methods.

We DO make a difference.

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 (REA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

Market share and figures Overall market share

Barfoot & Thompson

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

37.6%

For the period from 1st November 2019 to 31st October 2020, we sold 37.6% of all properties in the area – that’s more than 898 sales made by Barfoot & Thompson!

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.

Market share $0-1M

Market share $1-2M

Market share $2-3M

Barfoot & Thompson

Barfoot & Thompson

Barfoot & Thompson

37.8%

36.9%

39.1%

Market share $3-4M

Market share $4+

Barfoot & Thompson

Barfoot & Thompson

42.7%

31.5%

Figures shown on this page include information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. The local area shown includes: Ellerslie, Epsom, Greenlane, Hillsborough, Mangere Bridge, Mt Eden, One Tree Hill, Onehunga, Parnell, Remuera, Royal Oak, Sandringham & Three Kings. Totals are cumulative, baselined on the 13th of each month for the available results made in the previous calendar month.

Number of sales 1st August 2020 to 31st October 2020 compared to same period last year.

64

Epsom

102

31

Glendowie

40

23

Kohimarama

32

53

Mission Bay and Orakei

79

49

Parnell

65

130

Remuera

176

72

St Heliers

82 0

20

40

Same Period Last Year

60

80

100

120

140

160

180

200

Last 3 months

Same period last year

Last 3 months

55.7% of properties in Remuera sold for $2 million or more over the last 3 months Number of sales over $2 million: 98 of 176 (Remuera last 3 months)

Average sale price 1st August 2020 to 31st October 2020 compared to same period last year. $1,788,461

Epsom

$2,156,989

$1,444,841

Glendowie

$2,260,975

$1,649,394

Kohimarama

$2,150,031

$1,758,019 $1,700,316

Mission Bay and Orakei

$1,628,694 $1,600,263

Parnell

$2,310,356

Remuera

$2,594,390

$1,823,993

St Heliers

$2,098,959 $0

$500,000 Same Period Last Year

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

Last 3 months

Same period last year

Last 3 months

Figures shown on this page include information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. The local area shown includes: Epsom, Glendowie, Kohimarama, Mission Bay, Orakei, Parnell, Remuera and St Heliers. Totals are cumulative, baselined on the 13th of each month for the available results made in the previous calendar month.

GETTING READY TO SELL TOP TIPS When selling your home So, you are thinking about selling and want to know what you should do before putting your home on the market?

We share a few ideas from the information available on our website barfoot.co.nz Read our top tips and be sure to look at our information videos available on our web pages at this link: barfoot.co.nz/sell/selling-tips

De-clutter The golden rule for getting ready for market is definitely to de-clutter! The goal is to get buyers to make an emotional connection to your property when they visit during an open home or a private viewing. They need to see the spaces and have an idea as to where they can put their belongings.

Before you start the selling process, it’s a good idea to think about the space you have and how you can make the most of it. You may have all the space you need, but clutter could obscure rooms and make them look smaller.

Think of de-cluttering as a head start on packing up for your move later on.

Define Spaces Defining each room is a good idea when you are preparing for presentation to the market.

For example, you might have a four bedroom home but are using one of the bedrooms as a home office. While working from home suits many, showcase all the possibilities by installing a single bed alongside a more compact work area. This way you maximise the benefit of the extra bedroom and tick all the boxes for a broader range of buyers.

If you don’t have enough furniture, use a Home Stager. Home Stagers can bring an assortment of furniture and accessories to ‘dress’ your home. They often do this using your own furniture while adding the appeal of popular styles or trendy decoration to achieve a showhome presentation.

For an unfurnished home or an investment property, it’s a great idea to use staging to help your agent achieve the best selling price for your property.

Our top tips: - Consider hiring a storage unit for all objects that don’t have a place in your home - Clean everything - from skirting boards to walls, taps and behind fridges - Consider getting carpets professionally cleaned - Buyers will open your cupboards and closets, so make sure you take time to check these and give them a tidy-up - Your personal mementos make your house a home. So it stands to reason that buyers will find it hard to imagine living there if it’s filled with family photos and heirlooms.

Repairs and renovations

Go green!

For many people selling their home provides the perfect opportunity to make minor repairs and touch ups they may have been putting off for a long time.

A well-tended front garden creates instant appeal and is a great way to show buyers that your home is worth a look.

Doors that don’t shut property, holes in walls, peeling wallpaper or leaking taps are just some of the things that can turn off buyers and are relatively easy to fix.

If you’re not sure what to plant, go with low maintenance shrubs - New Zealand natives are ideal. Think about how you can create a sense of privacy and calm.

Bark or crushed shells can be used to cover any patches of bare earth, and rocks, railway sleepers or bricks make inexpensive garden borders.

Don’t have a garden? Add some colourful pots or planter boxes. Herbs, perennials or succulents are a good option - they add colour and fragrance.

First impressions

Before a buyer enters your home, they’ve already formed an opinion based on what they’ve seen from the road. Take a walk out to the kerb and think about anything that could potentially turn buyers off.

Freshly cut lawns, a well cared for garden or hedge, and clean paintwork on the house make a huge difference, and so do a chemwashed exterior plus water blasted fences and concrete walls. A positive impression from the street will make the buyer want to step inside.

More info: Our website barfoot.co.nz contains a range of tools and tips for buyers, sellers and renters.

Go online or drop in at our branch and ask us for more information.

RECENT SALES The following pages show a summary of sales in Remuera made by all selling agencies during October 2020.

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.

Every reasonable effort has been made to ensure the accuracy of the information presented. Land and floor sizes are approximate, sourced from REINZ, Auckland Council or other public sources and may contain inaccuracies. Barfoot & Thompson Limited (REA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

Remuera October 2020 3 Aldred Road Sale price $4,175,000 Land Size 1181

CV $3,900,000 Floor size 220

Bedrooms 4

CV $3,225,000 Floor size 110

Bedrooms 2

26 Aldred Road Sale price $2,700,000 Land Size 1000

1/48 Arney Road Sale price $2,700,000 Land Size 440

CV $2,525,000 Floor size 289

Bedrooms 3

CV $6,400,000 Floor size 342

Bedrooms 4

73A Arney Road Sale price $5,225,000 Land Size 1222

64A Bassett Road Sale price $2,115,000 Land Size 862

CV $2,175,000 Floor size 143

Bedrooms 3

CV $2,525,000 Floor size 172

Bedrooms 5

CV $2,675,000 Floor size 290

Bedrooms 4

CV $2,850,000 Floor size 356

Bedrooms 3

81 Bell Road Sale price $3,000,000 Land Size 859

69 Benson Road Sale price $2,750,000 Land Size 641

86 Benson Road Sale price $4,200,000 Land Size 612

8 Chatfield Place Sale price $5,500,000 Land Size 607

CV $4,450,000 Floor size 345

Bedrooms 3

Remuera October 2020 3/17 Clonbern Road Sale price $1,560,000 Land Size 960

CV $1,525,000 Floor size 188

Bedrooms 4

20F Clonbern Road Sale price $1,200,000 Land Size n/a

CV $1,240,000 Floor size 156

Bedrooms 3

1/2 Cotter Avenue Sale price $1,725,000 Land Size 323

CV $1,450,000 Floor size 221

Bedrooms 4

23 Debron Avenue Sale price $2,515,000 Land Size 1011

CV $2,575,000 Floor size 203

Bedrooms 4

31B Debron Avenue Sale price $1,347,826 Land Size 700

CV $1,650,000 Floor size n/a

Bedrooms n/a

CV $1,550,000 Floor size 203

Bedrooms 4

4/20 Ely Avenue Sale price $1,770,000 Land Size n/a

115A Grand Drive Sale price $1,430,000 Land Size 773

CV $1,080,000 Floor size 125

Bedrooms 3

CV n/a Floor size 237

Bedrooms 3

CV n/a Floor size 258

Bedrooms 4

2E Hiriri Avenue Sale price $2,400,000 Land Size n/a

8 Ingram Road Sale price $4,525,000 Land Size 642

Remuera October 2020 GA/18 Joseph Banks Terrace Sale price $675,000 Land Size n/a

CV $690,000 Floor size 61

Bedrooms 1

CV $1,525,000 Floor size 163

Bedrooms 5

CV $1,650,000 Floor size 110

Bedrooms 4

14 Kelvin Road Sale price $2,065,000 Land Size 632

4 Koraha Street Sale price $1,650,000 Land Size 646

54B Koraha Street Sale price $2,400,000 Land Size 371

CV $2,000,000 Floor size 237

Bedrooms 4

64A Koraha Street Sale price $1,405,000 Land Size ½ SH 1087

CV $1,300,000 Floor size 144

Bedrooms 3

CV $2,350,000 Floor size 301

Bedrooms 4

12 Ladies Mile Sale price $3,110,000 Land Size 676

1A/10 Laxon Terrace Sale price $1,000,000 Land Size n/a

CV $940,000 Floor size 130

Bedrooms 2

5/27 Lucerne Road Sale price $870,000 Land Size 1/5 SH 1011

CV $940,000 Floor size 80

Bedrooms 3

3/62 Lucerne Road Sale price $815,000 Land Size n/a

CV $850,000 Floor size 56

Bedrooms 2

Remuera October 2020 3 Manawa Road Sale price $2,500,000 Land Size 402

CV $1,875,000 Floor size 171

Bedrooms 3

CV $1,775,000 Floor size 103

Bedrooms 4

1 Martin Avenue Sale price $1,860,000 Land Size 690

10A Maungarei Road Sale price $1,340,000 Land Size 765

CV $1,160,000 Floor size 144

Bedrooms 3

1/66 Middleton Road Sale price $1,150,000 Land Size n/a

CV $960,000 Floor size 59

Bedrooms 2

B/34B Monteith Crescent Sale price $1,250,000 Land Size n/a

CV n/a Floor size 146

Bedrooms 4

54C Monteith Crescent Sale price $900,000 Land Size 1/5 SH 2451

CV n/a Floor size 186

Bedrooms 4

75 Ngapuhi Road Sale price $1,525,000 Land Size n/a

CV $1,360,000 Floor size 225

Bedrooms 4

2/5 Omahu Road Sale price $761,000 Land Size 1/3 SH 607

CV $680,000 Floor size 49

Bedrooms 1

CV $5,100,000 Floor size 378

Bedrooms 4

19 Omahu Road Sale price $7,250,000 Land Size 1011

Remuera October 2020 7 Orakei Road Sale price $5,200,000 Land Size 940

CV $4,900,000 Floor size 503

Bedrooms 4

4/11A Orakei Road Sale price $1,715,000 Land Size n/a

CV $1,450,000 Floor size 210

Bedrooms 4

2B/163 Portland Road Sale price $935,000 Land Size n/a

CV $900,000 Floor size 83

Bedrooms 3

29 Pukeora Avenue Sale price $3,500,000 Land Size 908

CV $2,900,000 Floor size 320

Bedrooms 6

15 Rangitoto Avenue Sale price $2,700,000 Land Size 1004

CV $2,475,000 Floor size 147

Bedrooms 3

556 Remuera Road Sale price $4,000,000 Land Size 1057

CV $3,550,000 Floor size 304

Bedrooms 5

2/658 Remuera Road Sale price $795,000 Land Size 1/5 SH 961

CV $1,000,000 Floor size 141

Bedrooms 2

4/672 Remuera Road Sale price $1,010,000 Land Size 1/5 SH 1466

CV $900,000 Floor size 130

Bedrooms 2

679 Remuera Road Sale price $1,450,000 Land Size n/a

CV $1,220,000 Floor size 187

Bedrooms 4

Remuera October 2020 711Q Remuera Road Sale price $1,335,000 Land Size n/a

CV $1,020,000 Floor size 153

Bedrooms 3

747 Remuera Road Sale price $1,600,000 Land Size n/a

CV $1,320,000 Floor size 193

Bedrooms 3

748 & 748A Remuera Road Sale price $2,880,000 Land Size 1025

CV $2,750,000 Floor size 225

Bedrooms 4

755A Remuera Road Sale price $1,408,000 Land Size n/a

CV $1,260,000 Floor size 116

Bedrooms 3

1/55 Richard Farrell Avenue Sale price $992,000 Land Size n/a

CV $810,000 Floor size 136

Bedrooms 2

CV $4,450,000 Floor size 237

Bedrooms 3

18 Ridings Road Sale price $4,500,000 Land Size 919

2/8 Rotomahana Terrace Sale price $1,112,000 Land Size n/a

CV $1,020,000 Floor size 147

Bedrooms 2

13A Rotomahana Terrace Sale price $1,365,000 Land Size n/a

CV $1,450,000 Floor size 147

Bedrooms 3

31 Rotomahana Terrace Sale price $1,720,000 Land Size n/a

CV $1,600,000 Floor size 120

Bedrooms 3

Remuera October 2020 22 Saint Vincent Avenue Sale price $1,738,000 Land Size 674

CV $1,825,000 Floor size 174

Bedrooms 4

37 Saint Vincent Avenue Sale price $8,600,000 Land Size 2565

CV $7,400,000 Floor size 355

Bedrooms 4

3 Seascape Road Sale price $2,450,000 Land Size 840

CV $2,500,000 Floor size 298

Bedrooms 5

CV $3,100,000 Floor size 333

Bedrooms 5

CV n/a Floor size 160

Bedrooms 4

8 Seaview Road Sale price $3,000,000 Land Size 683

2 Spencer Street Sale price $2,605,000 Land Size 319

5/18 Tahora Avenue Sale price $1,070,000 Land Size n/a

CV $1,040,000 Floor size 180

Bedrooms 4

CV $1,800,000 Floor size 158

Bedrooms 4

4 The Glen Sale price $2,310,000 Land Size 677

2/142A Upland Road Sale price $2,260,000 Land Size n/a

CV $2,050,000 Floor size 174

Bedrooms 3

188A Upland Road Sale price $4,475,000 Land Size 781

CV $4,150,000 Floor size 540

Bedrooms 5

Remuera October 2020 12 Ventnor Road Sale price $2,950,000 Land Size 991

CV n/a Floor size 180

Bedrooms 3

222 Victoria Avenue Sale price $10,000,000 Land Size 1410

CV $9,250,000 Floor size 570

Bedrooms 4

277 Victoria Avenue Sale price $5,950,000 Land Size 1389

CV $6,400,000 Floor size 309

Bedrooms 4

10 Waiatarua Road Sale price $2,160,000 Land Size 677

CV $1,550,000 Floor size 219

Bedrooms 5

1/23 Waiatarua Road Sale price $1,825,000 Land Size n/a

CV $1,475,000 Floor size 235

Bedrooms 3

62 Waiatarua Road Sale price $1,435,000 Land Size n/a

CV n/a Floor size 105

Bedrooms 2

75D Waiatarua Road Sale price $2,700,000 Land Size n/a

CV $2,200,000 Floor size 298

Bedrooms 4

CV $3,125,000 Floor size 300

Bedrooms 4

3 Wairua Road Sale price $3,350,000 Land Size 738

6 Westbourne Road Sale price $6,100,000 Land Size 1097

CV $6,100,000 Floor size 407

Bedrooms 4

Remuera October 2020 10 Youngs Lane Sale price $1,331,000 Land Size n/a

CV $1,000,000 Floor size 147

Bedrooms 3

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.

Meet the team Our marketing and negotiating skills are well proven with our focus being on providing valuable, insightful, knowledgeable and respectful real estate services to you. Your needs are what drives us—we understand the one size doesn’t fit all, which is why we deliver a bespoke service that’s as unique as you and your home. As we value the same things as you do, you can be assured we’ve got all the right measures in place to ensure your privacy and security.

Successful selling relies on unparalleled market knowledge, superior negotiating skills and a lot of hard work. We are focused, professional real estate experts with years of experience in every kind of market.

Carolyn Vernon Branch Manager 027 577 7000

Customer Service team

Acky Yau

Margaret Chapman Jayme Mapley-Bunny

Mae Barclay-Lang

Property Management team

Karen Rodie Property Manager 027 886 0376

Kirsty-ann Ofamo’oni Senior Portfolio Manager 027 405 2505

Patrick Kan Portfolio Manager 027 570 7700

Myria Lolamo Letting Specialist 027 542 1962

Aries Sun Property Managers Assistant

the the Property Property Girls Girls

topperforming performing team boutique service withwith stylestyle and and professionalism.

Old school values and AAtop teamproviding providinga a boutique service professionalism.

Old school a wealth of experience mean the Property Girls provide an attentive and polished service, and their values and a wealth of experience mean the Property Girls provide an attentive and polished love of quality and ensures your residence is elevated its highest worth. service, andluxury their love of quality and luxury ensurestoyour residence is elevated to its highest worth.

Previously a a lawyer, sound assessments, honest advice, and and the ability to work all Previously lawyer,Lisa Lisaprovides provides sound assessments, honest advice, the ability to through work through manner of complexities in a calm and logical manner.

Her extensive commercial background facilitates all manner of complexities in a calm and logical manner. Her extensive commercial background the smooth delivery of delivery solid results.

Lisa results. relates easily and treats everyone with respect.

Shewith understands facilitates the smooth of solid Lisa relates easily and treats everyone respect. everyone has busy lives and selling their home is a major business transaction.

She understands everyone has busy lives and selling their home is a major business transaction.

Verena has a vibrant personality, great enthusiasm, and an enormous amount of dedication. She goes

Verena has a vibrant personality, great enthusiasm, and an enormous amount of dedication. She over the top to assist clients achieve their real estate goals. With a passion for design and experience goes over the top to assist clients achieve their real estate goals. With a passion for design and renovating properties in London and Auckland, Verena ensures your home is beautifully presented. Verena experience renovating properties in London and Auckland, Verena ensures your home is beautifully has exceptional communication skills and thrives in the high-powered world of real estate. presented. Verena has exceptional communication skills and thrives in the high-powered world of real estate.

Verena and Lisa put their achievements down to a blend of being good listeners, good conversationalists,

having great property knowledge, and taking the initiative. Their business thrives due to delighted repeat

Verena and referrals.

Lisa putThey theirhave achievements down to aand blend of do being clients and achieved top results these not good comelisteners, about by good chance. "They are conversationalists, having great property knowledge, and taking the initiative.

Their business thrives fast, they are informed, they get results, and they are nice to work with!" due to delighted repeat clients and referrals. They have achieved top results and these do not come about by chance. "They are fast, they are informed, they get results, and they are nice to work with!"

LisaMacQueen, MacQueen,AREINZ, AREINZ, LLB, PGDipBA Lisa LLB, PGDipBA

VerenaRyan, Ryan,DipMarketing DipMarketing Verena

M M 021 021221 2218622 8622 l.macqueen@barfoot.co.nz EE l.macqueen@barfoot.co.nz Remuera 09 524 0149 Remuera 09 524 0149 www.barfoot.co.nz/l.macqueen www.barfoot.co.nz/l.macqueen

M M 027 027522 5220773 0773 v.ryan@barfoot.co.nz EE v.ryan@barfoot.co.nz Remuera 09 524 0149 Remuera 09 524 0149 www.barfoot.co.nz/v.ryan www.barfoot.co.nz/v.ryan

AKTSM24

W

e build relationships we guide, we listen, we deliver.

We make sure it’s all about you.

Barfoot & Thompson Remuera 417 Remuera Road, Remuera, Auckland 1050 Residential Sales 09 524 0149 Property Management 09 524 1654 Email remuera@barfoot.co.nz

barfoot.co.nz/remuera