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MAY 20 18

REMUERA MARKET REPORT


Building Art at 417 Remuera Rd by Jonny4Higher


hello

Welcome to the May edition of our SOLD magazine Remuera Market Update.

We’ve had a hugely successful financial year and I am pleased to announce that at our recent annual Barfoot & Thompson Convention we were the recipient yet again, of a Top 10 Branch award, coming in at No. 6 out of a total 72 branches across Auckland. This is a huge achievement for the branch and represents the continual year on year growth and dominance of our Remuera team in a competitive real estate market. Our magazine contains the latest available information regarding property sales in Remuera along with details of market trends, stats and tips. This is just a part of our commitment to continue delivering to you, the highest level of service. Please do not hesitate to contact any of our Sales or Property Management teams if you would like more information, we would be delighted to help you with your Real Estate needs. All the best for the coming month.

Carolyn Vernon and the Remuera team.

Remuera 417 Remuera Road Remuera 1050 P: (09) 524 0149 E: remuera@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 Remuera Within Remuera, sales made during April 2018 continued to reflect the desirability of our local area in the market with good prices being achieved on steady volume. Solid sales were made across all price brackets and the percentage of sales achieving over $2m has increased since our March report.

$

Average Sale Price $2,076,892

Median Sale Price $1,687,500

#

Total Sales Apr 2018 | 38 Total Sales Apr 2017 | 39

Highest Sale Price | $10,700,000 Lowest Sale Price | $685,000

Median CV $1,725,000

Total monthly sales are down 2.6% when compared to same period

Sales $0-$1m | 5 Sales $1m-$2m | 18 Sales $2m-$3m | 12 Sales $3m-$4m | 1 Sales $4m+ | 2

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

47.9% of Properties in Remuera sold for $2 million or more over the last 3 months # Sales over $2M | 56 of 117 ( Remuera last 3 months)

$2M+ Average Sale Price

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 Remuera made by all selling agencies during April, 2018. 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 and Thompson Limited (REAA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.


Remuera | April 2018 4/31 Abbotts Way Sale Price | $1,201,000

CV | $1,060,000

Land Size | n/a

Floor Size | 139

Bedrooms | 3

16 Ada Street Sale Price | $2,000,000

CV | $2,150,000

Land Size | 400

Floor Size | 220

Bedrooms | 3

92 Clonbern Road Sale Price | $2,190,000

CV | $1,525,000

Land Size | 495

Floor Size | 156

Bedrooms | 4

130 Clonbern Road Sale Price | $2,790,000

CV | $2,725,000

Land Size | 494

Floor Size | 355

Bedrooms | 5

51 Combes Road Sale Price | $4,600,000

CV | $4,450,000

Land Size | 1012

Floor Size | 515

Bedrooms | 5

5B Glenbrook Street Sale Price | $1,475,000

CV | $1,550,000

Land Size | n/a

Floor Size | 123

Bedrooms | 3

6 Hiriri Avenue Sale Price | $1,650,000

CV | $2,000,000

Land Size | 315

Floor Size | 237

Bedrooms | 3

4A Lingarth Street Sale Price | $1,750,000

CV | $1,975,000

Land Size | 557

Floor Size | 210

Bedrooms | 4

2/23 Lucerne Road Sale Price | $1,045,000

CV | $1,060,000

Land Size | 253

Floor Size | 127

Bedrooms | 2


Remuera | April 2018 89A Lucerne Road Sale Price | $960,000

CV | $810,000

Land Size | 337

Floor Size | 92

Bedrooms | 2

25 Mahoe Avenue Sale Price | $2,670,000

CV | $2,625,000

Land Size | 783

Floor Size | 299

Bedrooms | 4

28A Mahoe Avenue Sale Price | $1,725,000

CV | $1,850,000

Land Size | 533

Floor Size | 170

Bedrooms | 4

7A Mainston Road Sale Price | $1,628,888

CV | $1,525,000

Land Size | 400

Floor Size | 211

Bedrooms | 4

2/22 Mainston Road Sale Price | $1,000,000

CV | $1,020,000

Land Size | 410

Floor Size | 105

Bedrooms | 3

2/33 Mainston Road Sale Price | $1,100,000

CV | $1,380,000

Land Size | n/a

Floor Size | 225

Bedrooms | 4

1A Maungarei Road Sale Price | $2,040,000

CV | $1,060,000

Land Size | 461

Floor Size | 234

Bedrooms | 4

2/52 Monteith Crescent Sale Price | $1,155,000

CV | $1,220,000

Land Size | 400

Floor Size | 162

Bedrooms | 3

74A Ngapuhi Road Sale Price | $1,445,000

CV | $1,575,000

Land Size | 544

Floor Size | 223

Bedrooms | 5


Remuera | April 2018 60 Omahu Road Sale Price | $1,900,000

CV | $2,000,000

Land Size | n/a

Floor Size | 239

Bedrooms | 5

34 Orakei Road Sale Price | $2,640,000

CV | $2,400,000

Land Size | 571

Floor Size | 287

Bedrooms | 4

62 Orakei Road Sale Price | $2,105,000

CV | $2,500,000

Land Size | 416

Floor Size | 220

Bedrooms | 4

111B Orakei Road Sale Price | $1,155,000

CV | $1,400,000

Land Size | 276

Floor Size | 156

Bedrooms | 3

113 Orakei Road Sale Price | $2,910,000

CV | $2,925,000

Land Size | 766

Floor Size | 194

Bedrooms | 4

1B/163 Portland Road Sale Price | $685,000

CV | $760,000

Land Size | 182

Floor Size | 64

Bedrooms | 2

29 Pukeora Avenue Sale Price | $2,780,000

CV | $2,900,000

Land Size | 908

Floor Size | 273

Bedrooms | 4

312 Remuera Road Sale Price | $10,700,000

CV | $10,750,000

Land Size | 1700

Floor Size | 480

Bedrooms | 4

6B/416 Remuera Road Sale Price | $1,415,000

CV | $1,600,000

Land Size | n/a

Floor Size | 128

Bedrooms | 2


Remuera | April 2018

Cres, Remuera

on Rd, Mt Eden

Lane West, Greenlane

wa Rd, Remuera

den Rd, Mt Eden

wens Rd, Epsom

rews Rd, Epsom

17 Debron Ave, Remuera

1/214 Campbell Rd, Greenlane

4/619 Dominion Rd, Mt Eden

4/570 Remuera Road

Sale Price | $980,000

CV | $1,220,000

Land Size | 258

Floor Size | 145

26 Golf Rd, Epsom

3/7 Ellerton Rd, Mt Eden

68 Grand Dr, Remuera

1/746 Remuera Road

Sale Price | $835,000

CV | $960,000

Land Size | 231

Floor Size | 125

8B Kelvin Rd, Remuera

1B Hollywood Ave, Epsom

1B Lewin Rd, Epsom

39 Ridings Road

Sale Price | $2,600,000

CV | $2,725,000

Land Size | 857

Floor Size | 111

490/492 Manukau Rd, Epsom

1/654 Manukau Rd, Epsom

2/5 Miro Rd, Greenlane

49 Ridings Road

Sale Price | $3,190,000

CV | $2,950,000

Land Size | 857

Floor Size | 257

5/5 Ngaroma Rd, Epsom 21B Rotomahana Terrace

3/125 Ngapuhi Rd, Remuera

72C Onslow Ave, Epsom

Sale Price | $1,100,000

CV | $1,120,000

Land Size | 283

Floor Size | 106

35 Prospect Tce, Mt Eden 6 Standen Avenue

105 Peary Rd, Mt Eden

12 Raumati Rd, Remuera

Sale Price | $2,350,000

CV | $2,250,000

Land Size | 677

Floor Size | 181

Te Kawa Rd, Greenlane 2/5A Tonks90Street

24 Standen Ave, Remuera

308/86 The Strand, Parnell

Sale Price | $1,190,000

CV | $1,300,000

Land Size | n/a

Floor Size | 121

30 Eastbourne Rd, Remuera

Bedrooms | 3

187K Great South Rd, Greenlane

Bedrooms | 3

2/15A MacMurray Rd, Remuera

Bedrooms | 3

2/340 Mt Eden Rd, Mt Eden

Bedrooms | 4

14 Orakau Ave, Epsom

Bedrooms | 3

127 Shackleton Rd, Mt Eden

Bedrooms | 3

12 Thorley St, Mt Eden

YOUR HOME NEXT? Bedrooms |3 If you’re thinking of selling call us today.

Rd, Mt Eden

51 Wembley Rd, Mt Eden 77 Upland Road

3/23 Waiatarua Rd, Remuera

som 09 520 6221

24 Windsor St, Parnell

Sale Price | $1,550,000

CV | $2,050,000

Land Size | n/a

Floor Size | 155

Greenlane 09 523 1189

Bedrooms | 3

Mt Eden 09 638 9158

50A Waiatarua Road Sale Price | $1,335,000

CV | $1,400,000

Land Size | 700

Floor Size | 156

Bedrooms | 4


Every day across Auckland we’re selling more than 1 in every 3 listed homes. There’s a reason people do business with us, give us a call to find out more.

Remuera | April 2018

3A Walton Street Sale Price | $2,325,000

CV | $2,050,000

Land Size | 491

Floor Size | 180

Bedrooms | 3

21 Woodley Avenue Sale Price | $2,752,000 12 months to August 2016

Sales data source: REINZ

Land Size | 632

Parnell 09 366 0015

CV | $2,450,000 Floor Size | 236

Bedrooms | 4

Remuera 09 524 0149

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.


Barfoot & Thompson | Remuera Providing unparalleled local knowledge since 1967, Barfoot and Thompson Remuera has decades of local experience. We bring an authenticity, depth of knowledge and array of community relations that large franchises cannot match. Our services are distinctive, extensive, and tailored to you – with insights that will help you make smarter, better informed real estate decisions. There is a reason more people choose to work with us. Give us a call and we’ll show you how we can make a difference for you.

417 & 419 Remuera Road Remuera 1050 Ph 09 524 0149 www.barfoot.co.nz/remuera remuera@barfoot.co.nz

barfoot.co.nz


Barfoot & Thompson | Remuera 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 that 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

Nadine Fowler, Sales Manager Helen de Serville 027 969 9888

Kiri Solomon

Margaret Chapman

Acky Yau

Property Management Team

Patrick Kan Portfolio Manager 027 510 7700

Ashton Nichols Chrissi Bollard Portfolio Manager Business Development 027 405 2505 Manager - 021 760 060

Karen Rodie Property Manager 027 886 0376 09 524 1654

Kavya Sethuram Letting Specialist 027 542 1962

Aries Sun Property Managers Ast. 09 524 1654


Residential Sales Team

Alex Baker 027 457 9805

Cindy Jiang 021 777 273

Barbara Armon 021 799 012

David MacDonald 021 650 901

Betty Shao 021 367 795

Carey Liu 021 367 795

Cici Wang 021 280 2828

Dennis Munford 027 491 4666

Dermot Kelly 021 954 573

Di Martens 021 776 100

Helen Lin 021 185 9916

Julie Fitzpatrick 021 530 290

Kanta Lala 021 886 016

Janice Hamilton-Cox 027 232 2356

Jason Li 021 195 0668

Judith Barr 021 971 500

Julia Nah 021 281 6899

Kathy Bower 021 928 648

Kevin Lin 022 354 3453

Leila MacDonald 021 928 926

Leo Liu 021 268 8108

Lisa MacQueen 021 221 8622

Michael Bacher 021 733 732

Nick Lyus 021 998 004

Paul Studman 021 998 563

Pat Hou 021 186 0693

Philip Cox 027 488 8968

Sara-Jayne Kingston 021 767 729

Stanley Armon 021 723 177

Stephen Rendell 021 949 394

Steve Hood 021 911 606

Thomas Farmer 021 865 895

Verena Ryan 027 522 0773


W

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

We make sure it’s all about you.

barfoot.co.nz/remuera

Barfoot & Thompson Remuera | May 18  

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

Barfoot & Thompson Remuera | May 18  

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