Barfoot & Thompson | Parnell by barfootsuburbsales

Apr.2024 Parnell Market Report

/parnell

barfoot.co.nz

Welcome to our SOLD Parnell 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.

Parnell branch 300 Parnell Road Parnell, Auckland 1052 P 09 366 0015 E parnell@barfoot.co.nz barfoot.co.nz/parnell

Pauline Goldfinch and the Parnell team

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

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 April 2023 to 31st March 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+ 28% 25%

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. Where sales information was not publicly available, an individual sale may have been excluded from the average results and tallies. 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.

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 1st January to 31st March 2024 compared to the same period last year. Average sale Price Same period last year Last 3 months 1st January to 31st March 2024 compared to the same period last year. 38 66 18 38 21 25 49 37 62 21 33 11 19 36 0 10 20 30 40 50 60 70 Saint Heliers Remuera Parnell Mission Bay and Orakei Kohimarama Glendowie Epsom Same Period Last Year Last 3 months $2,574,131 $2,797,755 $1,618,997 $1,825,342 $2,038,119 $2,101,980 $2,033,258 $2,096,764 $2,378,254 $2,119,857 $2,501,151 $2,196,363 $2,281,368 $1,798,369 $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

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

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.

Negotiation Tender

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!

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 Parnell, Newmarket and Remuera 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.

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.

25 Cotesmore Way $93,500 $960,000 CV Land Size Sale price Leasehold Bedrooms 3 Floor size 111 5 Dovedale Place $100,500 $1,020,000 CV Land Size Sale price Leasehold Bedrooms 3 Floor size 102 38 Gladstone Road $2,975,000 $2,750,000 CV Land Size Sale price 685 Bedrooms 7 Floor size 337 38 Glanville Terrace $1,410,000 $1,525,000 CV Land Size Sale price Crosslease Bedrooms 2 Floor size 132 14 Parnell Road $1,225,000 $1,380,000 CV Land Size Sale price Unit Title Bedrooms 3 Floor size 197 463 Parnell Road $2,500,000 $2,600,000 CV Land Size Sale price 304 Bedrooms 1 Floor size 138 G/9A Saint Georges Bay Road $3,500,000 $2,975,000 CV Land Size Sale price Unit Title Bedrooms 3 Floor size 220 809/88 The Strand $178,960 $420,000 CV Land Size Sale price Unit Title Bedrooms 1 Floor size 34 Y5/30 York Street $1,599,000 $1,550,000 CV Land Size Sale price Unit Title Bedrooms 3 Floor size 156

Parnell

MAR 2024

C608/176 Broadway $568,000 $700,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 63 27/8 Clayton Street $452,000 $490,000 CV Land Size Sale price Unit Title Bedrooms 1 Floor size 36 5/12 Sarawia Street $1,100,000 $1,400,000 CV Land Size Sale price Unit Title Bedrooms 3 Floor size 211

property

Real Estate

Newmarket

This publication shows data regarding a wide selection of published residential

sales that have recently occurred. It includes information from multiple sources and published reports of sales made by most

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.

5 Abbotts Way $1,521,000 $1,650,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 134 67 Bell Road $3,510,000 $2,500,000 CV Land Size Sale price 612 Bedrooms 5 Floor size 275 59 Benson Road $840,000 $880,000 CV Land Size Sale price Crosslease Bedrooms 2 Floor size 58 30B Combes Road $2,120,000 n/a CV Land Size Sale price 166 Bedrooms 4 Floor size n/a 18 Dempsey Street $1,300,000 $1,425,000 CV Land Size Sale price 176 Bedrooms 3 Floor size 153 5 Dover Place $2,500,000 $2,525,000 CV Land Size Sale price 640 Bedrooms 4 Floor size 248 1A/9 Furneaux Way $868,888 $970,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 82 5 Garden Road $2,500,000 $2,800,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 164 11/31 Green Lane East $850,000 $1,340,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 124

Remuera

MAR 2024 4D/36 James Cook Crescent $1,120,000 $1,400,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 76 2B Kitirawa Road $1,580,000 $1,625,000 CV Land Size Sale price Unit Title Bedrooms 2 Floor size 131 46 Ladies Mile $1,760,000 $1,950,000 CV Land Size Sale price 455 Bedrooms 4 Floor size 216 52 Lillington Road $2,020,000 $1,600,000 CV Land Size Sale price 543 Bedrooms 4 Floor size 111 23 Lingarth Street $4,500,000 $4,500,000 CV Land Size Sale price 503 Bedrooms 4 Floor size 353 105A Lucerne Road $2,151,000 $2,050,000 CV Land Size Sale price 405 Bedrooms 4 Floor size 188 4/36 Mainston Road $1,680,000 $1,950,000 CV Land Size Sale price 203 Bedrooms 3 Floor size 195 17 Mamie Street $4,500,000 $4,150,000 CV Land Size Sale price 427 Bedrooms 4 Floor size 344 36 Manawa Road $3,550,000 $3,475,000 CV Land Size Sale price 784 Bedrooms 3 Floor size 192

47 Market Road $9,170,000 $9,800,000 CV Land Size Sale price 2714 Bedrooms 6 Floor size 567 12 Maui Grove $3,500,000 $3,700,000 CV Land Size Sale price 671 Bedrooms 4 Floor size 334 6/66 Middleton Road $1,758,000 $3,000,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 145 5 Monteith Crescent $1,206,000 $1,360,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 93 23 Ngapuhi Road $3,050,000 $2,900,000 CV Land Size Sale price 704 Bedrooms 4 Floor size 250 67A Ngapuhi Road $1,315,000 $1,280,000 CV Land Size Sale price 341 Bedrooms 4 Floor size 132 20B Nordon Place $1,110,000 $1,450,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 152 9 Ohinerau Street $2,648,000 $2,875,000 CV Land Size Sale price 534 Bedrooms 4 Floor size 286 1/71 Orakei Road $2,830,000 $2,150,000 CV Land Size Sale price Crosslease Bedrooms 4 Floor size 218

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.

2024

MAR

67 Portland Road $4,650,000 $5,500,000 CV Land Size Sale price 1259 Bedrooms 4 Floor size 314 8 Stoneyroyd Gardens $1,661,000 $2,000,000 CV Land Size Sale price 629 Bedrooms 3 Floor size 203 106 Upland Road $2,610,000 $2,850,000 CV Land Size Sale price 579 Bedrooms 4 Floor size 342 19A Upland Road $5,100,000 $4,200,000 CV Land Size Sale price 908 Bedrooms 5 Floor size 327 3 Upland Road $2,027,000 $2,625,000 CV Land Size Sale price Crosslease Bedrooms 3 Floor size 225

Meet the team

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.

Brooke Grant Property Manager 027 456 1354

Mae Barclay-Lang Property Manager 027 431 9666

Branch

021 146 2720 Customer Service Property Management team

Barclay-Lang Branch Administrator Rose Ennis Branch Administrator Wenzi Liu Head of Property Management 027 581 4692 Diane Makaeran Property Management Administrator

Nick Fistonich

Manager

Mae

Residential Sales team

Greg Collins 021 893 335 Pankul Bakshi 021 082 23563 Alexandra Corbin 021 643 673 Linda Galbraith 021 966 028 Ian Griffiths 021 960 231 Sally Giles 021 764 356 Jonas Ho 027 666 9360 Amy Ho 027 666 9993 Edwin Madhvan 027 778 6347 Jessie Lu 027 933 8899 Jessie Lu 021 227 0087 Bobby McMillan 021 396 767 Silvia Poletti 021 311 311 Abhi Sreekumar 022 644 6545 Caterina Poletti 021 300 612 Cindy Yu 021 829 188 Victoria Yao 027 551 2797 Wendy Whittaker 027 285 1177 Terry Zheng 021 0275 3888 Dan Luo 027 668 8198

Barfoot & Thompson Parnell 300 Parnell Road, Parnell, Auckland 1052 Residential Sales 09 366 0015 Property Management 09 366 0071 Email parnell@barfoot.co.nz barfoot.co.nz/parnell Parnell AKTSM23