As Christmas approaches the typical mid December market slow down may not eventuate this year. We are seeing strong activity from buyers and sellers who want to get things done now and not wait for 2023, in expectation of tougher market conditions in the new year. Some buyers are pushing forward with urgency to purchase before pre-approvals run out or in hopes of beating higher rates come the next OCR rise in the new year. There is also growing consensus that we are at the end game of the downward market momentum which may trickle down a little further, but not enough to warrant waiting and face higher interest rates.
This will likely spur a longer December market and stronger January market than normal. With this in mind will be starting campaigns earlier next year, rather than waiting for the traditional post Waitangi weekend launch, to take advantage of the many buyers that will still be on the hunt come the new year.
If you are considering selling in the new year – talk to us about our January Campaigns.
This Week’s Wrap
The Short Story
Listings & Stock Availability
Auction Results
The Short Story
Open home activity has remained reasonably solid and whilst it’s been a tough week in the auction rooms so far the trend is still up and still positive as the increased urgency we are seeing at the moment continues.
Listings & Stock Availability
The decline in stock levels continues as we head toward Christmas.
North Shore Stock Levels:
1515 on TradeMe.co.nz – 1562 last week
1565 on oneroof.co.nz – 1613 last week
1500 on realestate.co.nz – 1544 last week
Auction Results
Bit tougher this week which happens but the overall averages are still strong, and 86% of the auctions with active bidding were sold showing the intent to purchase is still high.
Harcourts C&C
W/e 13/11 – 44% (12/27)
W/e 20/11 – 45% (13/29)
W/e 27/11 – 49% (18/37)
W/e 04/12 – 29% (4/14) with 3 more to call
4 week average 44%
12 week average 45%
Barfoot North Shore
W/e 13/11 – 35% (8/23)
W/e 20/11 – 38% (16/42)
W/e 27/11 – 31% (13/42)
W/e 04/12 – 19% (7/37)
4 week average 31%
12 week average 32%
Combined 4 Week average: 36%
Combined 12 Week Average: 38%
Auctions with Active Bidders:
86% last week
72% over past 4 weeks
That’s it from me, remember if you ever have any questions please just give me a call.
Have a great weekend!
_______
Kris Cunningham & Team are all Licensed Sales People under the REAA 2008
NEW LISTING
42 Gordon Avenue, Milford
Resource Consent Granted!
Price By Negotiation
THE CUNNINGHAM GROUP
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