Millwater Property Talk with Grayson

millwaterpropertystats

Every month Mike Pero Real Estate Silverdale assembles a comprehensive spreadsheet of all the recent sales in the Silverdale area that reviews the full range of residential transactions that have occurred.

July 2015 June 2016 July 2016 We also provide statistical data, free from cost to purchasers and sellers wanting more information to make an informed decision. Phone me today.

Number of Sales 30 23 16 Median Sales Price $1,057,000 $1,150,000 $1,077,500 Highest Sale Price $1,430,000 $1,507,000 $1,490,000 Lowest Sale Price $870,000 $870,000 $810,000 Average % price to CV 16.86 35.34 35.67 Average Floor Area (sqm) 249 238 221 Weighted Value Index 1161 1398 1397 Average Days to Sell 72 69 80

Disclaimer: These sales figures have been provided by a third party and although all care is taken to ensure the information is accurate some figures could have been mis-interpreted on compilation. Furthermore these figures are recent sales from all agents in the area. Data is gathered from Property Guru and REINZ.

Grayson Furniss

Franchise Owner SILVERDALE

09 426 6122 021 665 423

grayson.furniss@mikepero.com

Mike Pero Real Esate, Licensed REAA (2008)

millwaterpropertytalkwithGrayson

So: we have passed through the shortest day and then a very wet and miserable month for July and the market has trundled along almost without taking a breath. The July statistics tell a slightly skewed story, unless you break them down a bit further. Sales numbers were down; more a reflection of shortage of properties for sale than a drop in demand. The median price was also well down – again this was a reflection of the number of sales of smaller (190m-215m) homes in July, rather than a fall in the overall market price. This can be seen by the stable Weighted Average index, a representation of bang for buck in the local market. A slight warning here – this index is an algorithm of a number of factors, including land and house size, so should not be assumed to represent an actual dollar amount for anything. At the coal face, we are seeing a number of factors all at play at once. Some investors have been spurred on recently to get stuck in and purchase before the new Reserve Bank Loan to Value rules kick in. Interestingly, other investors with ample equity have pulled back from the market temporarily, waiting to see whether the new rules may cause a change. Generally, these factors are balancing out to a ‘business as usual’ level. A stronger demand-side influence in recent weeks has been the poor weather and the Olympics, causing slightly lower numbers at open homes. In reality, this hasn't really seen much of a slowdown in actual sales, with the serious buyers still out there. The generally low stock levels of recent months mean that our database is now overflowing with buyers hunting for the right property. Generally, this is translating into excellent price outcomes for our vendors, with us receiving multiple offers on the majority of properties that we market. As always, we are keen to know of properties that may be coming to the market in the future, even if it is just a thought in the back of your head right now. Let us provide you with some information on your property value, so you can complete your thinking fully informed. Grayson

Mike Pero Real Esate, Licensed REAA (2008)