Watch Our Auctions Live

Keeping you safe during lockdown   READ HERE

Watch Our Auctions Live

Keeping you safe during lockdown   READ HERE

24 October 2017

September Market Wrap

Well, the deal is finally done and we have a brand new government in waiting. Will this new coalition change things in the real estate market? – We doubt it.


share

57% last month
29 sales
44% same time as
last year

It comes as no surprise that sales volumes dropped dramatically in September in comparison to the previous month and the same month year on year. The recent general election, tougher borrowing criteria, and uncertainty about changes to immigration and foreign ownership are all factors that have had their part to play in the decline in numbers.

Monthly Sales

Median sale price in September 2017

$1,480,000

11% last month
3% same time as
last year

The increase in the median price from the previous month and over the same month last year is consistent with our own market observations here at the Damerell Group. Let’s not forget that there are still motivated buyers out there, who are confident about buying and living in our locality, and they’ve had to compete from depleted stock levels to achieve success.

Monthly Trend

Price Bracket Breakdown

Average days to sell

October 2016 to September 2017

There’s no questioning the number of auctions, particularly over the past six months, have dropped significantly. However, the results have been extraordinary. Clearance rates, time taken to sell, and prices achieved have been more positive for sellers than at any time we at the Damerell Group can remember in the past decade or more.

22 AUCTION
28 SET DATE OF SALE
48 SALE BY NEGOTIATION

Monthly Trend

Auction sales
Set date of sale
Sale by negotiation

Our auction success rate

October 2016 to September 2017

Although the average number of bidders has decreased at our auctions, the determination of those buyers to secure a property has never been stronger. A success rate of just short of 90% is testament to the skill level of our team. Auctions are our speciality and, in our opinion, this is where we stand head and shoulders above our competitors.

Passed in 11%
Sold 86%
Sold prior 3%
2 Average number of
registered bidders

Our listings by sale method

September 2017

Given our success rate at auctions, it is little wonder that the vast majority of our properties are marketed by this method of sale. The indisputable facts relating to shortened length of time to sell, prices achieved, and increased probability of achieving an unconditional sale speak for themselves.

70% AUCTION
4% SET DATE OF SALE
26% SALE BY NEGOTIATION

Monthly Trend

Auction listings
Set date of sale
Sale by negotiation

Suburb Overview

September 2017

This map gives you an overview of total sales and median price across the Greater Ponsonby area. Hover over the yellow dots for the statistics on each suburb.

The Rental Market

With those wet winter months now a distant memory, renters are looking ahead to the warmer months and exploring the possibility of moving – particularly families who have been in hibernation. September saw an expected seasonal rise in demand for all types of properties, letting times declined, and prices have risen slightly.