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18 January 2018

December Market Wrap

Where to start and what to believe? 2018 has begun with the usual plethora of articles in the mainstream press predicting everything from the doom and gloom of a housing market collapse to the highs of a new, mini boom.


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6% last month
52 sales
63% same time as
last year

The increased volume of sales in December reversed a trend seen in previous months and also went against what was seen across the rest of Auckland that month. The net result is that our office commenced the New Year with more stock than in previous years, so we will be watching the sales figures in the first quarter of 2018 with great interest.

Monthly Sales

Median sale price in December 2017

$1,510,000

0% last month
4% same time as
last year

The lack of movement in the median sale price from the previous month and small decrease compared with December 2016 says more about the distribution of sales than actual changes in values. At times like these, speculative activity disappears, with homeowners at the upper end of the market tending to put plans on hold rather than sell. This has the effect of bringing down the median sale price, but doesn’t necessarily translate to a drop in prices within each price band.

Monthly Trend

Price Bracket Breakdown

Average days to sell

January 2017 to December 2017

As the pressure comes off the market it is reasonable to expect that the number of days to sell will increase. This is certainly the case with properties marketed ‘by negotiation’. However, the number of days to sell ‘by auction’ remains reassuringly constant, at around 22 days. With auctions, buyers know they are dealing with a serious seller, not a speculator.

22 AUCTION
26 SET DATE OF SALE
48 SALE BY NEGOTIATION

Monthly Trend

Auction sales
Set date of sale
Sale by negotiation

Our auction success rate

January 2017 to December 2017

As we continue to see month on month, year on year, ‘auction’ properties generally sell more quickly than those marketed by any other method – plus, they have a much higher probability of achieving a sale. Again, it’s no mystery as to why informed sellers choose this method of sale.

Passed in 27%
Sold 70%
Sold prior 4%
2 Average number of
registered bidders

Our listings by sale method

December 2017

Marketing greatly influences our buying behaviour. It therefore makes complete sense that when selling your greatest asset that you invest in a quality, comprehensive marketing plan, run by experienced professionals, as an integral part of both auction and set date of sale campaigns.

NaN% AUCTION
NaN% SET DATE OF SALE
NaN% SALE BY NEGOTIATION

Monthly Trend

Auction listings
Set date of sale
Sale by negotiation

Suburb Overview

December 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

The rental market is still in the doldrums, with people focused on their annual holidays and other festivities. However as we approach the end of January, things will pick back up to normal conditions. Already we are seeing listings picking up and are having multiple applications for most of our properties. Interestingly, we are seeing an increase in demand for good, one-bedroom rentals close to the city, as professional singles and couples move away from the traditional flat-sharing model of rental accommodation.