NORTH SHORE MARKET UPDATE
An insight into what is happening in your area.
GLIMPSES OF NEW LIFE IN THE MARKET
What a time we are having here on the North Shore My deepest thoughts go out to those who have been affected by the recent weather events I hope you have the support you need and are safe, dry and warm If you do need any help or support and not sure where to turn, please do reach out and we will do what we can. I have added some information on thenextpagethatmightbeuseful.
The Real Estate Institute of New Zealand’s (REINZ) January 2023 figures show house prices have declined but at a slower ratethanseenpreviously
REINZ Chief Executive, Jen Baird says prices continue to ease but the pace of the decline is steadying, and the market has glimpses of a new life as January’s seasonally adjusted data shows.
“Januaryistraditionallyaslowermonthassellersandbuyers are on holiday This month is no exception, although intensified in Auckland by relatively poor weather, with the least number of sales since records began (excluding April 2020 during the country’s lockdown) at 943 sales. The rest of thecountryhasalsoseenarecordlowforthemonthwithless than3,000sales(2,759)nationally.”
Highinterestrates,theabilitytosecurefinance,commentaryaroundalooming recessionandthisbeingelectionyearcanbeaddedtofactorsforslowdecision making from buyers As a result, properties are spending longer on the market with 53 being the median days to sell for January 2023, 16 days longer comparedtoJanuary2022”
“Reports of more activity in the market are growing “Agents in many areas are reportingmoreattendanceatopenhomes,moreinterestonlineandevenmore multi-offer situations. Inventory has increased 39.4% year-on year, now sitting at 27,732 properties which provides plenty of choice for buyers Add to that prices that have eased over the last 12 months, and some less bad economic newscomingoutrecently,itseemstherearemorebuyersactiveinthemarket FebruaryandMarchdatawilltellusiftheychoosetoact”addsBaird
“Thisisinterestingdataanddoesindicateaslowingofthedecline.Thecoming months will be telling as the country braces for more activity both in the weatherandthepropertymarket,”concludesBaird.Source:REINZ
Asalways,Iamheretohelp Pleasereachofifyouhaveanyquestionsrelating to the market, recent sales in your suburb or if you're wanting to know what yourhomeislikelytosellfor,Iwouldlovetoassist
Untilnexttime,keepsmiling!
AUCKLANDINCLEANUPMODE
InAuckland,therearemanypropertiesthathavebeengivenared,yelloworwhiteplacardduetodamagefrom earlierflooding.Thisnumberisexpectedtogrowoverthecomingweeksasthecyclonethreatensfurtherdamage toalreadydamagedhomesacrosstheupperNorthIsland.
If your property has been damaged and you're not sure what to do at this stage, I have included some helpful weblinks to provide the information you may need Simply scan the QR code to find the links We also highly recommendyouseeklegaladvicebeforelistingapropertyinafloodzoneorhasbeen affectedbytherecentweatherevents.
Ifyouneedanyadviceonwhattodonextifyouarethinkingofsellingorbuying,pleasereachout tomeforadviceonkeystepstofollow.
WHATISYOURPROPERTYWORTHRIGHTNOW?
Findoutwithanobligation-freemarketappraisal.
Oneofthehardestpartsoflistingyourhomeforsaleisdetermin value of your home. Many different factors can create un expectations Ifthepriceistoolow,yourisklosingmoney Ifthe toohigh,yourisklosingbuyers.
The best approach is to study the current real estate market wherethelocalmarketknowledgeandexpertisecomesin.Iwill toshowyoucomparisonsofothersimilarhomesinyourarea–show your competition. Quite simply, the current property determines the value of your home Contact me today for a appraisal.
FollowmeonsocialmediabeforetheendofMarch2023andgo intothedrawtowina$100PrezzyCard. Mysocialmediadetails can be found below - facebook or Instagram, whichever you prefer
02041205961
carla.oneil@harcourts.co.nz
www.carlaoneil.co.nz
