Ray White City Apartments November Apartment Report

AUCKLAND: APARTMENT REPORT

NOVEMBER 2021 | PROPERTY REPORT

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CONTENTS:

RAY WHITE CITY APARTMENTS Market Comment Auckland Central Statistics September Sales Why Choose Us? Marketing Your Home Meet the Team

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MARKET COMMENT

MARKET ACTIVITY POWERING BACK UP IN AUCKLAND’S CITY APARTMENT MARKET The spring surge, desire to lock in interest rates before they rise further and lessening of lockdown levels have helped power back up Auckland’s City Apartment market.

Ray White City Apartments’ sales volumes in October 2021 were up 57% on September 2021.

Auckland has been under Covid’s Alert Level Three during October, allowing agents to show potential buyers properties in person but not via open homes.

The previous month of September was dominated by the stricter Level Four restrictions which prevented all in-person real estate visits to properties.

The number of owner-occupiers looking to enter the CBD and City fringe apartment market is continuing to grow, ranging from first-home buyers who are very active, to baby boomers at the other end of the spectrum, looking to downsize from large family homes. This goes hand in hand with the city’s transformation as downtown and its surroundings continue to become more of a desirable place to live.

The number of properties available for sale have definitely strengthened but properties are selling fast. We’re still seeing a number of auctions being brought forward, driven by strong demand as we see a slight imbalance of demand over supply remaining.

Naturally we are now in the usual period of heightened Spring activity, with sellers who are often utilising three-week auction campaigns wanting to list and sell before Christmas. City Apartments’ auction listings are up and vendors who want to sell via auction before the Christmas break still have a small window of time to list but we’d encourage them not to drag their heels. We are continuing to see strong results with our Auction success rate sitting at 83%.

We’re also seeing movement within banks with them tightening up on their lending criteria, including tightening up on who they’ll consider taking on as new clients.

Recent slight upward pressure on interest rates is definitely fuelling buyer appetite with investors wanting to lock in an interest rate before any further projected rate rises.

The ability for agents’ to have increased one-on-one time with buyers during these individually-arranged viewings, has brought about good engagement and interest.

People’s ability to adapt to Covid-driven changes to the real estate market has been evident. The inability to run open homes during October didn’t hamper levels of buyer requests with viewings remaining very busy.

DANIEL H O R ROB I N City Realty Group Director 021 595 976 | daniel.horrobin@raywhite.com 5

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AUCKLAND CENTRAL

MARKET STATISTICS

T O TA L S A L E S

MEDIAN SALES

October 2021

October 2021

October 2020

October 2020

There was a 19% decrease in the total number of sales year on year.

There was a 7% decrease in the total median sale price year on year.

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$510,000 $550,000

T O TA L S A L E S VOLUME

M E D I A N D AY S ON MARKET

October 2021

October 2021

October 2020

October 2020

There was a 26% decrease in the total sales volume year on year.

There was a 12% increase in the total median days on market year on year.

$52,173,000 $70,404,000

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OCTOBER SALES – CITY APARTM Agent/s

Property

Date Sold

Price

Casey Chen Dusan Valenta Nick Armstrong

505/6a Nugent Street, Mount Eden

1st Oct 2021

$1,520,000

May Ma

3801/10-12 Commerce Street

2nd Oct 2021

$4,680,000

Krister Samuel

1J/16 Market Place

2nd Oct 2021

$123,000

Team May & Mark

113/5-9 Madeira Lane,

4th Oct 2021

$458,000

Justin Wu Sally Wu Matthew Haines

6N/435 New North Road Kingsland

5th Oct 2021

$675,000

Keisha Gutierrez

1509/207 Federal Street

5th Oct 2021

$680,000

Team City

13G/156 Vinent Street

6th Oct 2021

$388,000

Team City

219/430 Queen Street

6th Oct 2021

$433,000

Casey Chen

33 Edwin Street, Mt Eden

7th Oct 2021

$675,000

Team May & Mark

202/5 Howe St, Freemans Bay

7th Oct 2021

$819,000

Dusan Valenta Nick Armstrong

213/10 Flower Street, Eden Terrace

8th Oct 2021

$819,000

Steve King

3305/10-12 Commerce Street

8th Oct 2021

$1,555,000

Sally Wu Justin Wu

2B/47 Ireland Road, Mount Wellington

8th Oct 2021

$585,000

Justin Wu Sally Wu

56 Mcannalley Street, Manurewa

8th Oct 2021

$820,000

Casey Chen

205/10 Flower St, Eden Terrace

8th Oct 2021

$618,000

8th Oct 2021

$2,750,000

Team May & Mark 3402/10-12 Commerce Street Sharene Temple (Conj) 8

MENTS Agent/s

Property

Date Sold

Price

Team City

10M/147 Hobson Street

9th Oct 2021

$265,000

Steve King

509/8 Lakewood Court, Manukau

9th Oct 2021

$630,000

Craig Warburton

Lot 366 Faringdon, Rolleston

11th Oct 2021

$780,000

Team May & Mark

511& Carpark 23 Dominion Rd

12th Oct 2021

$925,000

Casey Chen Nick Armstrong Dusan Valenta

306/6A Nugent Street, Grafton

12th Oct 2021

$895,000

Casey Chen Nick Armstrong Dusan Valenta

211/6A Nugent Street, Grafton

12th Oct 2021

$1,080,000

Casey Chen

1/21 Jenanne Place, Totara Vale

13th Oct 2021

$1,112,000

Marco Sahar Selina Zhang (Conj)

714/53 Cook Street

14th Oct 2021

$480,000

4A/23 Upper Queen Street

14th Oct 2021

$762,000

5/11 Spencer Road, Oteha

14th Oct 2021

$480,000

1106/17 Vogel Lane

14th Oct 2021

$615,000

Team City

1/24 Nearco St, Randwick Park

14th Oct 2021

$875,000

Craig Warburton

Lot 487 Acland Park, Rolleston

14th Oct 2021

$775,000

Ryan Bridgman

302/11 Fenton Street, Mt Eden

14th Oct 2021

$775,000

Craig Warburton

Lot 237 Spring Grove, Belfast

14th Oct 2021

$735,000

Ady Huang Dominic Worthington Siming Zhou Kay Yoo (Conj) Krister Samuel Dusan Valenta

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OCTOBER SALES – CITY APARTM

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Agent/s

Property

Date Sold

Price

Justin Choi Karen Li (Conj)

4 Zodiac Street, Henderson

15th Oct 2021

$1,268,888

Justin Wu Sally Wu

3D Greenway Place, Glen Innes

15th Oct 2021

$1,175,000

Ryan Bridgman Mitch Agnew

4M/3 Keystone Ave, Mount Roskill

15th Oct 2021

$485,000

Steve King

1305/10-12 Commerce Street

15th Oct 2021

$931,000

Team City

104/15 Rendall Place, Eden Terrace 15th Oct 2021

$635,000

Team May & Mark Jessica Choner

201/39 Anzac Ave, Auckland Central

15th Oct 2021

$480,000

Casey Chen

89 Queenstown Rd, Onehunga

17th Oct 2021

$1,899,000

Krister Samuel

39/146 Fanshaw Street

18th Oct 2021

$625,000

Team May & Mark

121/428 Dominion Rd

18th Oct 2021

$702,000

May Ma

213/428 Dominion Rd, Mt Eden

19th Oct 2021

$651,000

Team City Niqui Keen (Conj)

506/59 France Street, Eden Terrace

19th Oct 2021

$651,000

Keisha Gutierrez

9F/120 The Terrace, Wellington

20th Oct 2021

$290,000

Krister Samuel

65A/Rawhiti Rd, Onehunga

20th Oct 2021

$3,380,000

Team City

2302/10-12 Commerce Street

20th Oct 2021

$968,000

Lisa Zhang

804/53 Cook Street

20th Oct 2021

$423,000

Dusan Valenta Nick Armstrong Krister Samuel

1312/430 Queen Street, Auckland Central

20th Oct 2021

$367,000

MENTS Agent/s

Property

Date Sold

Price

Team May & Mark

L7/85 Beach Road,

21st Oct 2021

$488,000

Team May & Mark

1409/8 Airedale Street,

21st Oct 2021

$625,000

Krister Samuel

2A/16 Market Place

22nd Oct 2021

$360,000

May Ma

407/428-430 Dominion Rd

22nd Oct 2021

$650,000

Team May & Mark

512/30 Beach Road,

22nd Oct 2021

$105,000

Krister Samuel Nick Armstrong

6E/155 Queen Street, Auckland Central

22nd Oct 2021

$527,500

Casey Chen

316/43 Edwin St, Mt Eden

23rd Oct 2021

$720,000

Team May & Mark

4G/135 Victoria St West,

26th Oct 2021

$260,000

Marco Sahar May Ma

7J/23 Emily Place, Auckland Central

26th Oct 2021

$365,000

Team May & Mark

904/8 Airedale Street

26th Oct 2021

$479,000

Craig Warburton

Lot 60 Kennedy’s Green, Halswell

26th Oct 2021

$879,500

Krister Samuel

8F/82 Wakefield Street, Auckland Central

27th Oct 2021

$75,000

5C/23 Emily Place, Auckland Central

28th Oct 2021

$235,000

Damian Piggin

2/8 Dock Street, Freemans Bay

28th Oct 2021

$1,200,000

Krister Samuel

604/103 Symonds Street

28th Oct 2021

$1,000,000

Team City

14I/76 Albert Street

28th Oct 2021

$145,000

Team Yurak

406/1 Parliament Street

28th Oct 2021

$480,000

Marco Sahar Team Yurak John Min Krister Samuel

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RAY WHITE CITY APARTMENTS

WHY CHOOSE US?

WE’RE ON THE UP-AND-UP. Based in the heart of Auckland City, Ray White City Apartments is an award-winning agency in Auckland City that specialise in apartment sales for investment, luxury waterfront and lifestyle.

Our 183+ dedicated professionals who understand this unique market, are all top performers who have contributed to our phenomenal results.

As the Auckland apartment market continues to experience unprecedented growth, City Apartments & Wynyard Quarter is well positioned to maintain its leadership in the market.

City Realty has a strategic partnership with Loan Market, to provide clients with the best mortgage advice and rates with brokers throughout our offices that provide Home Loans, First Home Buyers Loans, Construction Loans, Refinance, Selfemployed Loans and Vehicle Finance – whatever the loan, Loan Market can help.

Our office achieved the No.4 Ray White office in the world for 2018 and the No. 2 Ray White office in New Zealand for 2018 and we do the highest volume of sales across all agencies in New Zealand.

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MARKETING YOUR HOME 14

A COMPREHENSIVE M A R K E T I N G S T R AT E G Y TO R E AC H AC T I V E & PA S S I V E B U Y E R S The marketing strategy is designed to reach the breadth of the active and passive buyer pool in the most effective manner, based on their Media consumption. Our marketing strategy comprises of 3 key components; property portals, social and multichannel digital strategy and print media.

PROPERTY PORTALS P R I M A R I LY A C T I V E & S O M E PA S S I V E B U Y E R S There are 3 key portals, TradeMe Property, Realestate.co.nz and Oneroof.co.nz. Property Portals generally attract active byers in the market, OneRoof has a unique position as it reaches both active and passive property buyers due to the diversity of information it has on the platform including property listings,

estimated property values, market news and commentary. It is important to run campaigns across all 3 to effectively cover the breadth of the active buyer pool and a part of the massive buyer market. None of the property portals have complete market coverage and each of these portals have a set of unique audiences.

DIGITAL MARKETING A C T I V E & PA S S I V E B U Y E R S The Ray White City Realty Group has introduced a state-of-the-art digital solution that is powered by artificial intelligence to reach the breadth of the active and passive buyer pool across social media and multiple digital channels, including news and other high traffic websites. The programme is fully automated in the back end, it creates an audience

segment of active buyers specific to the property as well as reaching the passive buyer pool. The campaign is structured to deliver quality leads for the property, and it auto optimises spend across social media and multiple digital channels, skewing the spend towards channels that are performing the best.

PRINT MEDIA P R I M A R I LY PA S S I V E & S O M E A C T I V E B U Y E R S Print continues to play an important role to cover the breadth of the market reaching quality and highly engaged audiences. It takes criteria-based search out of the equation with respect to the active market and is the most effective medium to reach the all important passive buyer market.

This is clearly evidenced by the fact that the New Zealand herald has seen a massive 48% increase in its print readership over the last 18 months and average time spent reading the paper is over 50 minutes. The value of print is also well supported by agent feedback.

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MEET THE TEAM

CITY A PA RT M EN TS M A N AGEM E NT

Daniel Horrobin

Vikas Verma

Cameron Brain

Director of City Realty Group

General Manager for City Realty Group

Auction Manager for City Realty Group

CITY A PA RT M EN TS SA L ES P EO PLE

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Adam Gurr

Ady Huang

Aileen Wu

André Boddé

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Andrew Rogers

Casey Chen

Chris Cairns

Chris Guilford

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Chris Lewis

Craig Warburton

Clara Chen

David Lee

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Damian Piggin

Dene O’Kane

Desiree Tod

Dominic Worthington

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Dylan Tracey

Dusan Valenta

Elena Mackor

Gabriela Galateanu

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Gillian Gibson

Habeeb Urrahman

Hunter Freeman

Jean Ooi

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Jeong Lee

Jessica Choner

Jevin Chao

John Min

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Judi Yurak

Justin Choi

Keisha Gutierrez

Krister Samuel

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Leo Zhu

Lisa Zhang

Marco Sahar

Mark Li

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Matthew Haines

Max Beliak

May Ma

Michelle Yurak

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Mitch Agnew

Nick Armstrong

Ryan Bridgman

Rickus Moll

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Sam Huang

Sean Ma

Siming Zhou

Steve King

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Licensee Salesperson

Steve Kirk

Victor Liu

Warren Thomas

Licensee Salesperson

Licensee Salesperson

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