Barfoot & Thompson | Parnell by barfootsuburbsales

Parnell Market Report barfoot.co.nz/parnell May2024

Welcome to our SOLD Parnell Market Report magazine

for May 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.

Nick Fistonich and the Parnell team

Parnell branch

300 Parnell Road

Parnell, Auckland 1052

P 09 366 0015

E parnell@barfoot.co.nz barfoot.co.nz/parnell

Latest News

Auckland housing still moving forward from market low point

In April, the Auckland housing market gave back half the gains it made in March but overall sales continued the forward momentum being made since the low point in July last year.

“April’s trading did not match March’s breakout result, but was still a solid performance,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“It has ensured the market is still moving forward from its low point in July last year.

“Since the start of the year, the median price has increased by 4.2 percent and the average price by 11.9 percent while, compared to the low point of the price cycle, the median price is now up by 6.1 percent and the average price by 13.7 percent.

“The median sales price for April at $1,007,500, was up 1.3 percent on that 12-months ago, but down 4 percent on that for March.

“The median price still remains above the $1 million mark, which

has become something of a benchmark for the median price in Auckland.

“The average sales price at $1,212,828 in April was down on that for March by 1.2 percent and was 11.6 percent above where it was 12 months ago.

“Sales numbers for the month at 704 were down a third on those for March but the highest for the month of April for three years.

“From a buyer-choice point of view, housing remains a buyers’ market with the number of properties listed at month end at 5,770, the third month in a row that total listings have remained above 5,000.

“Total listings at month end were assisted by 1,580 new listings in April, a three-year high for new listings in the month of April.

“Sales at the top end of the market remained strong, with 57 sales valued at $2 million or more, and this represented 8.1 percent of all sales. 12 homes sold for in excess of $3 million.

“The value of property sold in the Rural and Lifestyle markets in April was $40.2 million, up nearly 50 percent on the value of property sold last April. These sales made some inroads into stock levels, however, available properties for sale remain high in these two markets, offering buyers significant choice.”

Peter Thompson Managing Director

April 2024

Sales Data Parnell & Newmarket

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. We Do make a difference. Talk to us about Barfoot & Thompson’s number of days on the market for our different sale methods. SALE PRICE Average $1,410,443 Highest $4,400,000 Lowest $80,000 leasehold MEDIAN Sale Price $825,000 CV $1,010,000 TOTAL SALES April 2024 23 April 2023 9 156%* * Total monthly sales up/down compared to the same period last year. BY PRICE BRACKETS $0 - $1M 13 $1 - $2M 4 $2 - $3M 2 $3 - $4M 3 $4M+ 1

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 than a third of all listed properties in our area.

For the period from 1st May 2023 to 30th April 2024, we sold 34% of all properties for sale in the area – that’s over 600 sales made by Barfoot & Thompson!

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

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 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. 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.

34% 35% 33% 38% $0-1M $1-2M $2-3M $3-4M $4M+ 29% 23%

Figures shown on this page include information from multiple sources and

sales. Where sales information was not publicly available, an

baselined on the 13th of each month for the available

of the information. Barfoot and Thompson Limited (REA2008)

and

sales made by most Real Estate agencies

excluded from the average results

tallies.

cumulative,

previous calendar month. Every reasonable effort has been made to ensure the accuracy

no responsibility should the contents of this market report prove to be incomplete

incorrect. 28% of properties in Parnell sold for $2 million or more over the last 3 months. Number of Sales Last 3 months Same period last year 67 82 36 39 23 29 53 49 70 21 35 11 19 39 0 10 20 30 40 50 60 70 80 90 Saint Heliers Remuera Parnell Mission Bay and Orakei Kohimarama Glendowie Epsom Same Period Last Year Last 3 months 1st February to 30th April 2024 compared to the same period last year. Average sale Price Same period last year Last 3 months $2,478,962 $2,837,694 $1,552,582 $1,796,589 $2,096,195 $2,049,344 $2,114,871 $2,011,577 $2,114,775 $1,977,761 $2,488,114 $2,294,545 $2,017,473 $2,087,779 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 Saint Heliers Remuera Parnell Mission Bay and Orakei Kohimarama Glendowie Epsom Same Period Last Year Last 3 months 1st February to 30th April 2024 compared to the same period last year.

published reports of

may include private

individual sale may have been

and

Totals are

results made in the

accepts

FROM SALE TO SETTLEMENT

TOP TIPS

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

In our recent editions we have discussed the steps involved in selling your home, from getting ready to sell right through to the ins and outs of offers and negotiations. This article examines what happens after the sale, and on settlement day.

Remember we have more information and a range of videos on our website to help you make the very best choices. barfoot.co.nz/sell/selling-guide

Congratulations: your property has sold!

After the bubbly has been popped and the celebrations are over, our clients often ask us: “Now what?” Not to worry, the route from sale to settlement is a relatively straight forward one, and your Barfoot & Thompson sales person will guide you every step of the way. Now what?

What do I need to do?

Unconditional vs. Settlement

Once the agreement you have signed “goes unconditional” it is legally binding, meaning both you and the purchaser now have to fulfil obligations specified in the contract in order for the property to change owership.

Deposit

Upon the sale of the property, the purchaser is required to pay a deposit. We will hold this deposit in the Barfoot & Thompson trust account for 10 working days.

We’ll work with both solicitors directly during this process and will let you know once the deposit has been transferred to your solicitor’s bank account.

Keys on Settlement

On settlement day, the remainder of the purchase price of the property is paid to you, and the Property Title is transfered to the purchaser, who will then be the new owner.

We’ll hold your house keys at our Barfoot & Thompson office until your solicitor advises us in writing that the above has taken place, at which point they’ll be made available for the new owner to collect. We won’t release your keys until we are legally entitled to do so.

There is a number of things you’re required to do as part of your duties as a vendor:

• You must ensure all chattels included in the sale are in reasonable working order on settlement date. Excepting fair wear and tear, they should be in the same condition they were in on the date of sale. If there is any significant damage, the purchaser is entitled to compensation from you.

• You must ensure all bills for electricity, gas, water and rates on the property are up to date. There should be no outstanding charges on the accounts on settlement day.

Before Settlement:

• Make an appointment with your bank to discuss your financial arrangements for settlement day, and to sign the necessary financial documents.

• Make an appointment with your solicitor. You’ll need to arrange to sign the necessary legal documents to transfer the property from your name into that of the new owners.

• Organise the move! Arrange for someone to look after your children or elderly family members during the packing/ moving process if required. Book a moving company if you’re using one, and start collecting boxes and newspaper to pack your things in.

• Arrange the transfer of water, telephone, electricity and gas services. You’ll need to contact your service providers to notify them that you’re moving, and have all services at the property transferred from your name. You’ll also need to arrange final readings on the day of your move.

• Transfer any other services and organise your change of address.

• If your property is tenanted, you may have arranged with the purchaser that the tenants stay on under the new ownership. If so, this should have been included in the Sale and Purchase Agreement. If not, the property must be vacant on settlement date.

On Settlement Day:

• If the property is sold with vacant possession, then you must let the purchaser (or anyone authorised by them in writing) complete a property check prior to settlement. They’ll check the condition of the property, including the chattels and fixtures that are included in the sale. They must give you reasonable notice for this visit.

• On the day of possession, you must make all keys available to the purchaser.

• The set of keys should include all exterior door keys, electronic door openers and keys or codes to any alarms on the property. If the property is tenanted, however, these items will remain with the tenant(s).

It’s good to remember that in between the date of sale and the date of settlement, the property and chattels remain in your name. This means you are responsible for any damage that may occur between the sale and the settlement date.

Learn more about the steps between sale/ purchase and possession in our video explaining what happens at the presettlement inspection.

Remember we have a range of video tips for sellers. Head to our website for more information: barfoot.co.nz/sell/video-tips

Our salespeople have all the experience you need and are happy to provide you with more advice and information. Feel free to drop in at a branch, call, or contact us online.

With Barfoot & Thompson, not only do you have the strength of Auckland’s largest and most trusted real estate company behind you, you also have 1,700+ salespeople working for you.

Recent Sales

The following pages show a summary of sales in Parnell, Newmarket and Remuera made by all selling agencies during April 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.

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.

3A/15 Augustus Terrace

$700,000

203/15B Augustus Terrace

$1,700,000

16/11

Balfour Road

$480,000

109 Brighton Road

$3,875,000

12/27 Cheshire Street

$625,000

10 Cotesmore Way

Parnell APR 2024

$750,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 70

$1,875,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 91

$730,000 CV Land Size Sale price Crosslease Bedrooms 1 Floor size 49

Bradford

$4,600,000 CV Land Size Sale price 383 Bedrooms 4 Floor size 389

Street $4,400,000

$3,400,000 CV Land Size Sale price 645 Bedrooms 4 Floor size 289

Cathedral

$3,025,000 CV Land Size Sale price 779 Bedrooms 3 Floor size 158

Place $2,525,000

$700,000 CV Land Size Sale price Unit Title Bedrooms 1 Floor size 72

$1,020,000 CV Land Size Sale price Unit Title Bedrooms 3 Floor size 124

10/7 Cleveland Road $885,000

$80,000 $1,000,000 CV Land Size Sale price Leasehold Bedrooms 3 Floor size 115

34 Cotesmore Way

$110,500

8 Cotesmore Way

$126,000

1B/8 Farnham

Street

$813,000

2C/8 Farnham Street

$825,000

8 Freemont Street

$2,350,000

27 Garfield Street

2 Ngahere Terrace

$1,585,000

66A Saint Georges Bay Road

$3,200,000

201/86 The Strand

$910,000 CV Land Size Sale price Leasehold Bedrooms 3 Floor size 106

$1,060,000 CV Land Size Sale price Leasehold Bedrooms 3 Floor size 120

$920,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 96

$930,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 98

$2,375,000 CV Land Size Sale price 249 Bedrooms 3 Floor size 211

$1,850,000 CV Land Size Sale price Crosslease Bedrooms 2 Floor size 72

$1,424,500

$1,625,000 CV Land Size Sale price 331 Bedrooms 2 Floor size 98

$3,500,000 CV Land Size Sale price 388 Bedrooms 4 Floor size 288

$950,000 CV Land Size Sale price Leasehold Bedrooms 3 Floor size 105

$132,000

G9/30 York Street

Newmarket

D502/176 Broadway

$225,600

D618/176 Broadway

$547,000

Road

2/5 Sarawia Street

115C Arney Road

APR 2024

$1,500,000 $1,425,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 141

$500,000 CV Land Size Sale price Unit Title Bedrooms 1 Floor size 38

$730,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 63

n/a CV Land Size Sale price n/a Bedrooms 2 Floor size 5208

81 Carlton Gore

$3,766,600

$565,000 $630,000 CV Land Size Sale price Unit Title Bedrooms 1 Floor size 45 Remuera 8 Ada Street $2,741,000 $3,475,000 CV Land Size Sale price 433 Bedrooms 3 Floor size 218

$5,400,000 CV Land Size Sale price 915 Bedrooms 4 Floor size 301

$4,612,500

3/30 Ascot Avenue

$638,000

34 Ascot Avenue

$3,500,000

6 Eastbourne Road

$5,036,000

28A

Hapua Street

$2,300,000

84 Ladies Mile $2,220,000

40 Lingarth Street

$1,825,000

16A Mahoe Avenue

$3,146,800

8 Mainston Road $1,450,000

29A

Maungarei Road

$700,000 CV Land Size Sale price Crosslease Bedrooms 2 Floor size 56

$4,150,000 CV Land Size Sale price 915 Bedrooms 5 Floor size 218

$5,900,000 CV Land Size Sale price 866 Bedrooms 4 Floor size 330

n/a CV Land Size Sale price 233 Bedrooms 4 Floor size n/a

$2,275,000 CV Land Size Sale price 918 Bedrooms 4 Floor size 180

$1,850,000 CV Land Size Sale price 435 Bedrooms 3 Floor size 127

$3,400,000 CV Land Size Sale price 1112 Bedrooms 5 Floor size 210

$2,100,000 CV Land Size Sale price 703 Bedrooms 3 Floor size 159

$1,575,000 CV Land Size Sale price Crosslease Bedrooms 4 Floor size 143

$1,540,000

35 Middleton Road

$1,380,000 $2,575,000 CV Land Size Sale price 498

Bedrooms 2 Floor size 114

40 Mount

Hobson

Road

$1,590,000 $1,975,000 CV Land Size Sale price Crosslease Bedrooms 4 Floor size 251

10 Pukeora Avenue

$4,650,000 $5,400,000 CV Land Size Sale price 1934

Bedrooms 5 Floor size 329

488 Remuera Road

Land Size Sale price 895

$3,834,783 $6,500,000 CV

Bedrooms 9 Floor size 455

726A Remuera Road

$3,100,000 $3,175,000 CV Land Size Sale price 702 Bedrooms 4 Floor size 285

138 Upland Road

$4,200,000 $4,450,000 CV Land Size Sale price 766 Bedrooms 5 Floor size 322

152 Upland Road

$3,250,000 $3,375,000 CV Land Size Sale price 696 Bedrooms 5 Floor size 212

18 Warrington Road

Land Size Sale price 3191

$6,900,000 $8,500,000 CV

Bedrooms 5 Floor size 209

APR 2024

Meet the team

Branch Manager 021 146 2720

I first stepped into the property industry in 2008, and since then my career has gone from strength to strength. I’ve represented a number of New Zealand’s leading real estate brands, won multiple awards along the way, and gained a reputation as a top performer with a wealth of experience across property sales, business ownership and management.

I am known for my tireless work ethic, high energy, expert knowledge and ability to lead strategic business growth.

I also have a strong desire to succeed, which plays perfectly into my role as branch manager at Parnell - inspiring my team to aim high, achieve great things, grow and develop, and find reward and satisfaction in their work, every day. Of course, Barfoot & Thompson provides the perfect platform upon which we can all do this, thanks to the company’s vast network, market-leading position and outstanding access to resources and support.

We’re very fortunate to be working in the Parnell area, as this offers a unique backdrop for our operations. We consistently enjoy dominant market share in the suburb – likely due to the fact that we’re passionate about the area, have great local knowledge, and are experienced in selling the wide variety of properties on offer.

Looking ahead, my focus for the branch revolves around elevating our service offering and growing our sales and property management capability. I also intend to expand the team, building on our already impressive track record for great customer service, and stellar sales results.

Whether you’re considering buying or selling a property, or contemplating a career change, I would be delighted to assist. Feel free to call me at Barfoot & Thompson Parnell, and let’s explore the possibilities.