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M AY 20 18

THE BAYS REPORT


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

hello

Welcome to our SOLD magazine - The Bays - Property Market Update for May 2018.

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.

Teresa

Teresa Weiss and the Mission Bay branch team

Mission Bay 101 Tamaki Drive Mission Bay 1071 P: (09) 528 0775 E: mission@barfoot.co.nz


LATEST NEWS Signs Auckland’s housing hibernation is coming to an end In April the Auckland residential property market signaled that sales activity may have bottomed and is ready to emerge from its 12- month Barfoot & Thompson price and sales hibernation.

average market share “The sales figures contain a number for these suburbs: of modest indications that confidence

47.2

Peter Thompson Managing Director

has returned,” said Peter Thompson, Managing Director of Barfoot & Thompson.

%

“At $930,223, the average sales price was 1.4 percent higher than it was at the same time last year, with the average selling price having shown little movement over the past 12 months.

“The median sales price continues to lag behind previous levels and, at $830,000 for April, was down 0.8 percent down on the average for the previous three months and down 2.4 percent on April 2017’s price. “In part this can be attributed to sales of property in the $1 million and $2 million price category being down significantly in April compared to those for March (down close to 60 percent) while sales of homes for under $500,000 represented 9.8 percent of all sales. “Most trading activity during the month occurred in the $500,000 to $1 million price category, with sales numbers accounting for 57 percent of all sales.

“At the same time the number That’s nearly 1 inof2 homes sold by us.

properties sold at 731 was 10.1 percent There’s a reason do business us alistings call toatfind out higher than inpeople April 2017, and saleswith us, give “New 1358 formore. the month numbers in the first four months of the were strong, ensuring that buyer year are 3.2 percent higher than for the choice at month end of 4678 properties comparative was the second highest they have been 12 months to August 2016 Sales data source: REINZperiod last year. for 6 years. “While there is no suggestion that prices are poised to start their upward “After an active March, the rural, climb, with prices no longer declining lifestyle and commercial markets Parnell 09 366 0015 Remuera 09 524 0149 in comparison to 2017, the point experienced slower activity in April. has been reached where a further price decline is the least likely future “While buyers continued to show outcome. interest, they were selective. “In meeting the market price, buyers can have confidence that the chance of them being disadvantage by future price volatility is low.

“Demand remained strong for orchards, particularly for kiwifruit, in the north and far north.


Sales Data | April 2018 Focus on Mission Bay, Orakei and Kohimarama

$

Average Sale Price $1,416,556

Median Sale Price $1,347,500

#

Total Sales Apr 2018 | 18 Total Sales Apr 2017 | 20

Highest Sale Price | $3,031,000 Lowest Sale Price | $507,500

Median CV $1,475,000

Total monthly sales are down 10% compared to same period last year

Sales $0-$1m | 5 Sales $1m-$2m | 10 Sales $2m-$3m | 2 Sales $3m-$4m | 1 Sales $4m+ | 0

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 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.


Market Share + Figures

Barfoot & Thompson, 44.8%

Barfoot & Over the last 12 months, Thompson, 51.4% Barfoot & Thompson have sold more property in our local area than any other competitor.

For the period from 1st May 2017 to 30th April 2018, we sold 44.8% of all properties in the local area that’s more than 570 sales made by Barfoot & Barfoot Thompson! Barfoot & &

Thompson, 41.3%

Thompson, 42.7%

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 $1-$2M

Market Share $0-$1M

Barfoot & Thompson, 44.7%

Barfoot & Thompson, 51.4%

Market Share $2-$3M

Barfoot & Thompson, 42.7%

Market Share $3-$4M

Barfoot & Thompson, 41.3%

Market Share $4M+

Barfoot & Thompson, 36.7%

* The local area shown on this page includes data sourced from REINZ and Barfoot & Thompson for unconditional sales made in : Epsom, Glendowie, Kohimarama, Mission Bay, Orakei, Parnell, Remuera and St Heliers. Monthly totals are cumulative, baselined on the 13th of each respective month.


Number of Sales

1st February 2018 to 30th April 2018 compared to same period last year.

St Heliers

62

65

Remuera

117 49

Parnell

Mission Bay and Orakei

40

Glendowie

124

59

45

41

31 35 36

Kohimarama

Epsom

71

52 0

20

40

60 Same Period Last Year

80

100

120

140

Last 3 months

30.3% of Properties in Mission Bay, Orakei & Kohimarama sold for $2 million or more over the last 3 months

$2M+ Average Sale Price

# Sales over $2M | 23 of 76

(Mission Bay, Orakei & Kohimarama last 3 months)

1st February 2018 to 30th April 2018 compared to same period last year.

$1,855,352 $1,863,337

St Heliers

$2,461,214 $2,420,884

Remuera

Parnell

$1,509,273

Mission Bay and Orakei

$1,765,888

$1,561,888

$1,983,262

$1,862,561 $1,684,677

Glendowie

$1,624,704 $1,768,306

Kohimarama

$2,061,330 $2,134,746

Epsom $0

$500,000

$1,000,000 Same Period Last Year

$1,500,000

$2,000,000

$2,500,000

$3,000,000

Last 3 months

* The local area shown on this page includes data sourced from REINZ and Barfoot & Thompson for unconditional sales made in : Epsom, Glendowie, Kohimarama, Mission Bay, Orakei, Parnell, Remuera and St Heliers. Monthly totals are cumulative, baselined on the 13th of each respective month.


DIFFERENT WAYS TO SELL THIS MONTH’S FEATURE


TOP TIPS

WHEN SELLING YOUR HOME

You have decided to sell your home, but now you are wondering ‘How’? At Barfoot & Thompson you have a choice of different methods to best suit you. This month we discuss the main sale methods and different agency types. Remember we have more information and a range of videos to help you make the very best choice on our website, barfoot.co.nz https://www.barfoot.co.nz/sell/sellingmethods


Auction A real estate auction is a method of selling a property through the process of public negotiation to determine the true market value of the property at that time. Not only is Barfoot & Thompson Auckland’s largest real estate company, but it is also Auckland’s leading auction house - holding more auctions than any other real estate company. Some benefits of selling by Auction include: • You market your home without a price – the sky’s the limit • You have 3 opportunities to sell your home by auction; a) pre-auction, b) under the hammer or c) post-auction • There are no additional fees associated with a Barfoot & Thompson Auction so you have nothing to lose • An Auction sale is unconditional, you know your settlement date and how much you have sold for when the hammer falls We have a team of seven auctioneers that do auctions - and only auctions. They’re not part-time sales people or managers. That means when you sell your house through a Barfoot & Thompson auction, you’ve got the most dedicated and experienced team possible working for you.

Tender When selling by Tender, your home is sold by way of confidential offers that buyers make by a set deadline. Offers are opened at the same time in the presence of a Barfoot & Thompson Manager or Auctioneer and you have five working days from the Tender Date to decide if you will accept an offer. You have the right to negotiate with just one of the buyers and once accepted, the buyer is bound by the terms and conditions of the Tender document. While any property can be sold by tender, it is particularly suitable for: • Properties where a number of parties must be consulted, for example, properties owned by a family trust or deceased estate • Properties where potential customers would expect to have to do due diligence before submitting an offer, for example, properties with strong development potential.


Promotion Your home is offered to the market at a fixed price that you determine or by negotiation.

A general agency allows a number of real estate companies to do real estate work for the same property, at the same time.

Potential buyers can make offers for you to consider, these offers are usually conditional on various factors the buyer needs to investigate such as finance, builders report, council Lim report contents etc.

If you sign a general agency agreement with more than one agency, you would only pay commission to the agency which succeeds in selling your property.

Your Barfoot & Thompson Salesperson will assist with negotiations and represents your interests throughout the process.

D L SO

With this type of agreement, every agent has the listing but nobody has responsibility of selling the property. Why list as a sole agency versus a general agency? There is an obligation placed on the salesperson to provide a sale, which encourages them to work harder for it.

When you choose Barfoot & Thompson as your sole agent, our track record, selling power and industry knowledge brings the experience needed to achieve outstanding results.

Sole vs. General Agency If you have a sole agency agreement, then only the real estate company named on the agreement can do real estate agency work (i.e. market and sell) on the property identified in the agreement. This type of agreement encourages the agency to work harder on your behalf. If you sign a sole agency agreement, you should not sign up to another agent, as you may have to pay commission for both.

watch: https://youtu.be/wqX8npCv9Ws Our salespeople share their top tips on how to decide what method of sale is right for your home. View on youtube, visit our website barfoot.co.nz or drop into a branch for more information about our sale methods.


Recent Sales

On the following pages are a summary of Sales in Mission Bay, Orakei and Kohimarama made by all selling agencies during April, 2018. We’ve also included sales the surrounding Glendowie and St Heliers Area. 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.

Barfoo easy to nearby match 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 and Thompson Limited (REAA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.


any place.

Kohimarama | April 2018 2/3 Harvey Place Sale Price | $507,500

CV | $560,000

Land Size | 1/4 SH 837

Floor Size | 60

Bedrooms | 1

17 Rawhitiroa Road Sale Price | $1,375,000

CV | $1,525,000

Land Size | 350

Floor Size | 217

Bedrooms | 4

1/18 Sprott Road Sale Price | $772,000

CV | $700,000

Land Size | 176

Floor Size | 74

Bedrooms | 1

62 Sprott Road Sale Price | $2,080,000

CV | $1,975,000

Land Size | 400

Floor Size | 252

Bedrooms | 3

7/183 Tamaki Drive Sale Price | $1,460,000

CV | $1,340,000

Land Size | n/a

Floor Size | 86

Bedrooms | 2

3/277 Tamaki Drive Sale Price | $1,700,000

CV | $2,075,000

Land Size | 155

Floor Size | 140

Bedrooms | 2

ot & Thompson’s app helps you find the perfect home. Wit 20 Whytehead o use, intuitive features,Crescent you can instantly see homes for s Sale Price | $1,522,000 CV | $1,550,000 y, or use the easily adjustable filters to onlyBedrooms see homes tha Land Size | 637 Floor Size | 225 |4 h your criteria.

Deal with the firm that does the most business. There’s a reason for it.


Mission Bay | April 2018 1/34 Atkin Avenue Sale Price | $1,100,000

CV | $1,000,000

Land Size | 206

Floor Size | 105

Bedrooms | 2

2/45 Marau Crescent Sale Price | $2,410,000

CV | $2,375,000

Land Size | n/a

Floor Size | 265

Bedrooms | 4

3/42 Patteson Avenue Sale Price | $925,000

CV | $1,000,000

Land Size | 159

Floor Size | 77

Bedrooms | 2

49 Selwyn Avenue Sale Price | $3,031,000

CV | $2,600,000

Land Size | 748

Floor Size | 295

Bedrooms | 4

122 Selwyn Avenue Sale Price | $920,500

CV | $1,160,000

Land Size | 270

Floor Size | 77

Bedrooms | 2

Orakei | April 2018 4/99 Aotea Street Sale Price | $1,525,000

CV | $1,500,000

Land Size | 350

Floor Size | 198

Bedrooms | 4

8/160 Kepa Road Sale Price | $745,000

CV | $780,000

Land Size | n/a

Floor Size | 81

Bedrooms | 2

This publication shows a wide selection of published residential property sales that have recently occurred. It includes information from published reports of sales made by most Real Estate agencies and may include private sales. 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.


Orakei | April 2018 28A Ngake Street Sale Price | $1,320,000

CV | $1,675,000

Land Size | 427

Floor Size | 217

Bedrooms | 4

25A Rautara Street Sale Price | $1,075,000

CV | $1,475,000

Land Size | 1/2 SH 796

Floor Size | 194

Bedrooms | 3

1/70 Rukutai Street Sale Price | $1,100,000

CV | $1,360,000

Land Size | 357

Floor Size | 154

Bedrooms | 3

7/1 Watene Crescent Sale Price | $1,930,000

CV | $1,475,000

Land Size | 1/8 SH 2211

Floor Size | 152

Bedrooms | 2

Glendowie | April 2018 9 Colchester Avenue Sale Price | $1,950,000

CV | $1,725,000

Land Size | 809

Floor Size | 101

Bedrooms | 2

14C Crossfield Road Sale Price | $1,688,000

CV | $1,340,000

Land Size | 1244

Floor Size | 182

Bedrooms | 4

32B Jefferson Street Sale Price | $1,890,000

CV | NA

Land Size | 418

Floor Size | NA

Bedrooms | 4

206 Riddell Road Sale Price | $2,150,000

CV | $1,550,000

Land Size | 820

Floor Size | 265

Bedrooms | 4


Glendowie | April 2018 308 Riddell Road Sale Price | $3,100,000

CV | $3,215,000

Land Size | 1020

Floor Size | 228

Bedrooms | 4

440A Riddell Road Sale Price | $1,440,000

CV | $1,320,000

Land Size | 526

Floor Size | 209

Bedrooms | 3

12 Rochdale Avenue Sale Price | $1,815,000

CV | $1,725,000

Land Size | 809

Floor Size | 211

Bedrooms | 5

11 Sierra Street Sale Price | $1,540,000

CV | $1,240,000

Land Size | 920

Floor Size | 189

Bedrooms | 4

5 Vanessa Crescent Sale Price | $2,750,000

CV | $2,025,000

Land Size | 603

Floor Size | 251

Bedrooms | 4

194 West Tamaki Road Sale Price | $1,100,000

CV | $1,060,000

Land Size | 652

Floor Size | 87

Bedrooms | 2

St Heliers | April 2018 39 Auckland Road Sale Price | $1,480,000

CV | $1,725,000

Land Size | 405

Floor Size | 186

Bedrooms | 3

This publication shows a wide selection of published residential property sales that have recently occurred. It includes information from published reports of sales made by most Real Estate agencies and may include private sales. 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.


St Heliers | April 2018 10/7 Cliff Road Sale Price | $1,800,000

CV | $2,200,000

Land Size | 210

Floor Size | 216

Bedrooms | 3

22C Edmund Street Sale Price | $1,810,000

CV | $1,925,000

Land Size | 441

Floor Size | 322

Bedrooms | 4

7 Glen Oaks Sale Price | $2,220,000

CV | $1,800,000

Land Size | 664

Floor Size | 282

Bedrooms | 4

37 Glover Road Sale Price | $3,400,000

CV | $4,350,000

Land Size | 2219

Floor Size | 167

Bedrooms | 3

20 Hampton Drive Sale Price | $990,000

CV | $1,020,000

Land Size | 314

Floor Size | 117

Bedrooms | 2

6 Pamela Place Sale Price | $1,945,000

CV | $2,175,000

Land Size | 795

Floor Size | 253

Bedrooms | 4

3 Pycroft Place Sale Price | $2,500,000

CV | $2,750,000

Land Size | 608

Floor Size | 254

Bedrooms | 3

3/207 Saint Heliers Bay Road Sale Price | $960,000

CV | $1,140,000

Land Size | n/a

Floor Size | 114

Bedrooms | 2

2/260A Saint Heliers Bay Road Sale Price | $688,000

CV | $710,000

Land Size | 827

Floor Size | 66

Bedrooms | 3


St Heliers | April 2018 314A Saint Heliers Bay Road Sale Price | $1,440,000

CV | $1,450,000

Land Size | n/a

Floor Size | 203

Bedrooms | 3

2/16 Sayegh Street Sale Price | $1,285,000

CV | $1,340,000

Land Size | 1/2 SH 854

Floor Size | 184

Bedrooms | 3

68A Sayegh Street Sale Price | $1,060,888

CV | $1,100,000

Land Size | 1/3 SH 1290

Floor Size | 174

Bedrooms | 4

71 Speight Road Sale Price | $1,050,000

CV | $1,450,000

Land Size | 400

Floor Size | 136

Bedrooms | 3

3/39A Sylvia Road Sale Price | $1,350,000

CV | $1,525,000

Land Size | 379

Floor Size | 200

Bedrooms | 3

101 Tarawera Terrace Sale Price | $1,650,000

CV | $1,650,000

Land Size | 678

Floor Size | 180

Bedrooms | 3

56 Towai Street Sale Price | $2,200,000

CV | $2,275,000

Land Size | 921

Floor Size | 238

Bedrooms | 4

2/40 Vale Road Sale Price | $1,325,000

CV | $1,060,000

Land Size | 1368

Floor Size | 170

Bedrooms | 3

77A Vale Road Sale Price | $1,390,000

CV | $1,525,000

Land Size | 402

Floor Size | 255

Bedrooms | 4


Barfoot & Thompson | Mission Bay Mission Bay - home to leading agents in the Bays. Teresa’s 10 years’ experience in real estate sales, management and training sets her apart from the crowd. She has lived and breathed every real estate conversation, every buyer situation, every auction outcome numerous times both selling her own listings and sharing in the challenges and supporting the growth of the 1400+ salespeople at Barfoot & Thompson. Her sales career began in 2002 in the Eastern Bays area where she built a reputation for action and results. In her first year she was recognised as a top achiever and was approached to coach and Teresa Weiss, mentor others in the industry. Since then she has coached some of Branch Manager New Zealand’s top salespeople, supported real estate business owners, 0272 868 439 managed Barfoot & Thompson’s training team; sharing her knowledge and experience in all areas of the sales process. Now she has Called Barfoot & Thompson Mission Bay her home as she leads the dynamic sales team in her branch. Teresa is a pro. She is an expert in the psychology of selling and the strategies to achieve a top result for her clients and her team. She lives in Glendowie so has a personal understanding of the local area. Teresa has a way of making the real estate process look easy and has helped 100’s of real estate agents start their career. Teresa has worked with some of New Zealand’s leading agents as they have gone through the journey of taking their career to the next level. You can be confident that Teresa’s knowledge of the industry will set you up for success. Her knowledge of the process, her ability to negotiate and her understanding of what gets results for clients makes her a great mentor. The team love her energy and enthusiasm. As a result of the dynamic team, Mission Bay has experienced the highest growth in value of sales over the entire company in the past 12 months.

Property Management Team

Alice Harris Portfolio Manager 027 484 3599

Amar Durakovic Property Manager 021 479 566

Sam Zoweir Portfolio Manager 027 540 9895


Residential Sales Team

Aaron Foss 021 367 791

Carolyn Austin 021 979 787

Cheryl Woodward 0275 401 169

Karin Cooper 027 491 2158

Keith Simpson 027 255 5050

Lawrence Yuan 021 038 5588

Mark Edmonds 027 493 5657

Mary Turner 021 523 868

Nicole Hou 021 628 658

Paul Trimmer 027 331 5027

Paula Izzard 021 284 1020

Robert Ballard 022 682 0063

Simon Chan 021 027 51908

Sonja Nola 022 544 4408

Tania Brown 021 125 0931

Tracey Cameron 027 446 7056

Traci Holzheimer 021 686 887

Travis Nicholls 021 168 5294

Veronica Schoonraad 021 358 270

Yuyu Cao 021 506 563


Barfoot & Thompson Mission Bay 101 Tamaki Road Mission Bay P: (09) 528 0775 E: mission@barfoot.co.nz

barfoot.co.nz/missionbay

Barfoot & Thompson Mission Bay | May 18  

All the latest information and stats about the local property market.

Barfoot & Thompson Mission Bay | May 18  

All the latest information and stats about the local property market.