NORTH SHORE MARKET UPDATE
An insight into what is happening in your area.
ACTIVITY REMAINS SLOW IN THE MARKET
The Real Estate Institute of New Zealand’s (REINZ) February 2023 figures show a lesser rate of decline in annual median prices and salescounts,withstocklevelsreturningtonormallevels.
The prevailing economic headwinds already facing the property marketwerefurtherhamperedbytheAucklandfloodsandthena weeklaterCycloneGabriellealongwithAucklandAnniversaryand Waitangi weekend. It is fair to say it was a disrupted & bumpy starttothemonth
There is no shortage of headlines to tell you that prices have declined - across Auckland that decline is 15% year on year. It should be noted that whilst there are definite year on year price declinesthepaceofdeclinehassloweddecidedlyandinfactdata for our 3 core markets showing month on month price increases in February. Given the disruptions associated with February’s trading and the low volumes it is too early to make conclusive assumptions, but is fair to question if this could be an early indicationthatpriceshavebottomedout?
Another distinct change is the time it is taking to sell a property now sitting around 60 days – time frames we haven’t seen since the Global Financial Crisis Hence for those looking to sell it is vitaltomakeyourpropertystandout.Withmorechoiceavailable for buyers’, presentation & promotion become more important alongwithrealisticpriceexpectations
The median price for the North Shore for February was $1,230,000 - an 115% decrease,whereasthemedianpricewas$1,390,000thesametimelastyear.
There does remain strong demand for good properties We have daily stories of properties with multiple offers, several this week with over 5 offers presented Alongwithsomefantasticsuccessstoriesintheauctionroom.
ForthemonthofFebruary,Harcourts Cooper&Coconducted49auctionsof which19soldpriororonauction day,11soldwithin14dayspost auctionand3currentlyunderoffer
Nextmonthwewillreleasethe quarterlyresultsforthearea.
Asalways,Iamheretohelp Please reachofifyouhaveanyquestions relatingtothemarket,recentsales inyoursuburbor ifyou'rewanting toknowwhatyourhomeislikelyto sellfor,Iwouldlovetoassist
Untilnexttime,keepsmiling!
ENJOY THE LITTLE THINGS IN LIFE, FOR ONE DAY YOU'LL LOOK BACK AND REALISE THEY WERE THE BIG THINGS
RobertBreaultEASTERGIVEAWAY-GETCOLOURING!
EasterisonlyaroundthecornerandtheEasterBunnywantstogiveacouple of luckykidsadelicioushamperforenteringmycolouringincompetition.
DownloadthecolouringsheetbyscanningtheQRcodebelow,thenuploadthe masterpiecetomyFacebookorInstagrampage(linksbelow),ordropitintothe HarcourtsCooper&CoMilfordofficebeforethe31stMarch.
Winnerswillbeannouncedonthe1stApril
Thereare2categories-under7andages8-12,sodon't forgettoaddtheageonthesheet. Getthekidscolouring!
Goodluck!
IT'SAWARDSSEASON
Last week Harcourts held their Norther Region quarterly awards and ourofficecameuptrumps.
HarcourtsMilfordofficetookoutthefollowingawards:
#2HarcourtsClientExperience
TopOfficeforRevenueforOctober-Large
TopOfficeperSalesConsultantforOctober-Large
TopOfficeforRevenueforDecember-Large
HarcourtsCooperandCowontheNationalAwardforTopMultiOffice Franchise for Revenue for October, November and December. Somethingtobeextremelyproudof!
I was lucky enough to take home an award - Top Referring Sales Consultant - highest number of settled mortgage referrals in the NorthernRegionforOctobertoDecember2022. Ifyou’relookingfor adviceontrustedsupplierstoengagewithduringthehousebuyingor sellingprocess,Icanhelp.
WIN! WIN!WIN!
02041205961
carla.oneil@harcourts.co.nz
www.carlaoneil.co.nz
@carlaoneilauckland
@carla oneil harcourts
Followmeonsocialmediabefore theendofMarch2023andgointo thedrawtowina$100Prezzy Card. Mysocialmediadetailscan befoundtotheleft-facebookor Instagram,whicheveryouprefer.
GoodLuck!
