NORTH SHORE MARKET UPDATE

An insight into what is happening in your area.

Market Gaining Strength

Recent weeks have seen a consistent flow of commentary acknowledgingthemarketisgainingstrength.

Taking a closer look at prices the North Shore median sale pricedeclinedsignificantlyfromJuly2022toMarchthisyear, over 18% down. Since March prices have stabilised with marginalchangeoverthepast3months.

There is a surge in activity from determined buyers, particularly notable at auctions. This is supported by easing lending criteria and amplified with the current restricted levelsofavailablelistings.

This stabilisation of prices, along with increasing auction success rates and the reserve banks assertion that the OCR has now peaked are all assisting in providing reassurance for kiwi’s(andagrowingnumberofmigrants)tohaveconfidence inthemarketmovingforward

As confidence rebuilds the market will continue to navigate some headwinds provided by traditional Winter trading volumesandtheupcomingelectioninOctober

As we move past the shortest day of the year, it is glaringly apparentthatbrighterdaysareaheadforthepropertymarket

Accordingtothelatestdata,propertylistingsacrossthecountry experienced a significant decline last month, reaching the lowestlevelforthemonthofMarchin16years

Therearecurrently1,165propertiesforsaleontheNorthShore, which is down 61 from 1,226 to recent weeks, with the number decreasing each week. What does this mean for buyers and sellers?ReadmylatestblogbyscanningtheQRcodebelow.

If you are interested to know what your property might sell for in the current market, please do reach out and I can prepare a comparativemarketappraisalforyou. I am currently running a promotion,allappraisalsdoneinJuneandJulygointothedraw towinarestaurantvoucher-detailsonthenextpage.

Please reach out if you have any questions, I would love to assist.

Untilnexttime,keepsmiling!