A quick scan of the news sites and it’s apparent we are starting to see a balancing of positive stories amongst the negative. Which reflects the market. It’s certainly the most positive we have seen all year, and whilst many properties are still proving a little difficult to sell, others are flying off the shelf at highly competitive auctions.
Interest rates have sort of maybe hopefully stopped rising, credit availability has improved slightly, eligibility for low deposit purchases has improved, and overall sentiment is generally improving.
We are starting to see busier auction rooms, busier open homes in some cases, and some really good prices being achieved for this market. The tales of woe, failed auctions, disappointing prices, dead open homes and properties just not selling are still rife. But not too long ago those were the only stories we had.
Springs here, summer is coming, sentiment has improved and things are looking up. Will we see prices rebound in the near future, doubtful, eventually of course, but for now it just feels like the end of the slump is near, if not here.
This Week’s Wrap
– The Short Story
– Listings & Stock Availability
– Auction Results
The Short Story
Stock levels rose for the first time in months, our clearance rates are still stable, activity at open homes is still mixed and all in all, it’s more of the same. Except that more and more people I talk to are starting to feel, see or act a little more positively about the near future. Sentiment was already improving, and I’m sure the end of Winter and the return of longer and warmer days will be adding a little more positivity and happiness to the air, but we’ll take all the goodness we can get.
Listings & Stock Availability
Stock levels grew for the first time in about 3 months on all the major portals, this may be the beginning of the Spring stock which has been eagerly anticipated by those searching for a home, but let’s give it a few more weeks before making that call.
North Shore Stock Levels:
1331 on TradeMe.co.nz – 1311 last week
1390 on oneroof.co.nz – 1370 last week
1338 on realestate.co.nz – 1318 last week
Auction Results
Another solid week of Auctions for Harcourts, with 49% of our auctions being sold under the hammer on average over the past 4 weeks. Our auction rooms are also notably busier, and we are seeing more and more auctions with multiple bidders competing.
Harcourts C&C
We 11/09 – 57% (8/14)
W/e 18/09 – 42% (5/12)
W/e 25/09 – 50% (7/14)
W/e 02/10 – 45% (5/11)
4 week average 49%
12 week average 43%
Barfoot North Shore
W/e 11/09 – 19% (3/16)
W/e 18/09 – 33% (5/15)
W/e 25/09 – 33% (6/18)
W/e 02/10 – 7% (1/14)
4 week average 24%
12 week average 24%
Combined 4 Week average: 35%
Auctions with Active Bidders:
64% last week
80% over past 4 weeks
That’s it for me, remember if you ever have any questions please just give me a call.
Kris Cunningham
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Kris Cunningham & Team
The Cunningham Group | Harcourts Cooper & Co Smales Farm
Marketing Specialists on the Beautiful North Shore
Kris: 029 767 6801 | Office: 027 259 3603
#3 Harcourts North Shore | Top 20 Harcourts NZ & Worldwide
#1 for the North Shore Community SIX Years in a Row 2015-21
To stay up to date on a daily basis with previews, new listings and auctions, please follow us on Facebook& Instagram or visit www.kriscunningham.co.nz
Kris Cunningham & Team are all Licensed Sales People under the REAA 2008
PENTHOUSE OPPORTUNITY!
306/8A Lake Pupuke Drive, Takapuna
Penthouse Living. Ground Floor Pricing.
FOR SALE – $1,450,000
THE CUNNINGHAM GROUP
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