Property Talk WINTER ISSUE July / August 2018
What’s Happening in the Auckland / Whangaparaoa Market? The trend in the median price has flattened over the past 18 months with the volume trend recently flattening from a falling trend. The days to sell trend continues to ease. The House Price Index is remaining fairly steady, remaining effectively the same as 12 months ago.
O
ur seasonally adjusted results tell us that, compared to what we expect when moving from May to June, the observed minute increase in median price was fractionally more than expected and the observed large decrease in sales count was slightly greater than expected. The current Days to Sell of 40 days is more than the 10-year average for June which is 34 days. The level of inventory available for sale currently sits at 21 weeks, the same as in June 2017. Compared to June 2017: • Median Price down 0.7% • Sales Count up 0.7% • Days to Sell increased 2 days Compared to May 2018: • Median Price up 0.5% • Seasonally adjusted median price up 0.5% • Sales Count down 25.0% • Seasonally adjusted sales count down 6.9% • Days to Sell stayed the same
The median sale price for Whangaparoa in June 2018 was $790000, with 55 sales over 52 days. Bindi Norwell, REINZ CEO, says “While the Auckland median has stabilised, we’re seeing an increase in the number of 1 and 2 bedroom houses sold and a decrease in the number of 3 bedroom houses as people look to downsize or get a foot on the Auckland property market. First home buyers are still dominant at open homes, especially with properties under $700,000. When
the price goes above that mark, attendee numbers drop, as some may not qualify for loans above that price. We are also seeing lower listing numbers, mostly due to seasonal effects. Well marketed, newly listed properties continue to get good attendance at open homes and are selling quite quickly. It also means that more vendors are choosing to go for a priced strategy as this can be an effective approach to gain interest from buyers.”
Median Sale Price for June 2018
$3,500,000
Tindalls Beach Stanmore Bay
$772,000
Matakatia
$745,000
Manly Whangaparaoa Gulf Harbour Army Bay Arkles Bay
$727,000 $790,000 $850,000 $950,000 $769,000
Disclaimer: Every effort has been made by Mike Pero Real Estate to ensure that the information contained in this publication is complete and accurate. Prospective purchasers and sellers should make their own enquiries to verify any information contained herein. While our information has been prepared with due diligence and care, Mike Pero Real Estate does not accept liability for any errors, mistakes, omissions, or inaccuracies whether expressed or implied.
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