Barfoot & Thompson | City

AUCKLAND CITY MARKET REPORT March 2020

barfoot.co.nz/city

Welcome to our SOLD – Auckland City Market Report magazine for March 2020 Our magazine contains the latest available information regarding property sales in the City and the City Fringe along with details of market trends, stats and tips.

Aucklanders continue to have an almost insatiable appetite for property market intelligence, so each month we will share details of the trends in your area. This is just part of our commitment to continue delivering you the highest level of service.

We’ve been locals for decades so we know the area well. Our goal is to apply this knowledge for you so you’re able to make the most of the opportunity that today’s and tomorrow’s market presents.

Please do not hesitate to contact any of our sales team if you would like more information, we would be delighted to help you with your real estate needs.

Thank you and all the best for the coming month.

Sandra Forrester and the City team

City branch Cnr Fort St & Commerce St CBD, Auckland 1010

P 09 307 6340 E sforrester@barfoot.co.nz barfoot.co.nz/city

LATEST NEWS Exceptional Sales Numbers Have Limited Impact on Auckland Property Prices

Peter Thompson Director

The Auckland property market burst into activity in February, but not at the expense of stable prices.

and any signs that the virus might have on market activity is unlikely to appear before April’s trading results.

“Sales numbers in the month at 804 were exceptional and the highest in the month of February for five years but the prices at which properties changed hands were in line with where the market has been for the past few years,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The average price for the month at $920,553 was down 3.3 percent on that for January but only 0.2 percent higher than the average price in February last year.

“Both the average and median prices declined markedly from the level they have been at over the past three months but were in line with those being paid at this time last year.

“The median price at $820,000 was down 7.3 percent on that for January and 2.4 percent higher than last February’s.

“Stable prices were a major factor in why so many sales were made in the month.

“Another factor contributing to the high number of sales was the excellent level of new listings that came to market.

At 1,640 this was a 50 percent increase on the average number for the previous three months.

“The prices buyers were prepared to pay met vendors expectations, and our clearance rate of properties at auction, and by direct negotiation, were close to the numbers we were selling at the height of the 1990s property cycle.

“At month’s end we had 3,670 properties on our books. This is a modest increase on where we have been at for the previous three months but still 990 properties down on where we were at this time last year.

“Another factor contributing to the average and median prices remaining stable was the growing influence of apartment sales. In February sales of properties for under $500,000 represented 16 percent of all sales.

In January sales of under $500,000 properties accounted for 4.7 percent of sales.

“Properties in the $1 million and $2 million plus price categories in February were significantly ahead of where they were last February and accounted for 30.8 percent of sales.

“There is every indication that the excellent start the market has made to the year will flow into March, which traditionally is the best sales month in the first half of the year.

“There are no early signs that the spread of the coronavirus is having an impact on property sales but this is expected, as property sales tend to take place over a 30 to 60 day period,

“The rural and lifestyle property markets also experienced excellent trading results in February with sales being double what they were in February last year.

“To the south of Auckland and around Pukekohe, there was strong competition for lifestyle properties in the $1 million plus price category.

To the north of Auckland, lifestyle listings around the Albany, Coatesville and Riverhead areas are low, and record numbers of people are being attracted to view new listings.”

Sales data

City, Eden Tce, Freemans Bay & Grafton

February 2020

Average sale price:

$566,947

Highest sale price:

Median sale price:

Lowest sale price:

Median CV:

$3,175,000 $12,000

Total sales February 2020: 99 Total sales February 2019: 87 Total monthly sales are up 13.8% compared to the same period last year.

$428,880 $495,000

Sales $0-$750K: 76

Sales $750K-$1M: 13 Sales $1M-$2M: 8 Sales $2M-$3M: 1

Sales $3M+: 1

Talk to us about Barfoot & Thompson’s number of days on the market for our different sale methods.

We DO make a difference.

This publication shows data regarding a wide selection of published residential property sales that have recently occurred. It includes information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. Where data is not publicly available, an individual sale may have been excluded from the average results and tallies shown in this report. Every reasonable effort has been made to ensure the accuracy of the information. Barfoot and Thompson Limited (REA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

DIFFERENT WAYS TO SELL TOP TIPS When selling your home You have decided to sell your home, but now you are wondering ‘How’?

At Barfoot & Thompson you have a choice of different methods to best suit you. This month we discuss the main sale methods and different agency types.

Remember we have more information and a range of videos to help you make the very best choice on our website, barfoot.co.nz barfoot.co.nz/sell/selling-methods

Auction A real estate auction is a method of selling a property through the process of public negotiation to determine the true market value of the property at that time.

Not only is Barfoot & Thompson Auckland’s largest real estate company, but it is also Auckland’s leading auction house - holding more auctions than any other real estate company.

Some benefits of selling by Auction include: You market your home without a price – the sky’s the limit.

You have 3 opportunities to sell your home by auction; a) pre-auction, b) under the hammer or c) post-auction.

There are no additional fees associated with a Barfoot & Thompson Auction so you have nothing to lose.

An Auction sale is unconditional, you know your settlement date and how much you have sold for when the hammer falls.

We have a team of seven auctioneers that do auctions - and only auctions. They’re not parttime sales people or managers. That means when you sell your house through a Barfoot & Thompson auction, you’ve got the most dedicated and experienced team possible working for you.

Tender When selling by Tender, your home is sold by way of confidential offers that buyers make by a set deadline.

Offers are opened at the same time in the presence of a Barfoot & Thompson Manager or Auctioneer and you have five working days from the Tender Date to decide if you will accept an offer. You have the right to negotiate with just one of the buyers and once accepted, the buyer is bound by the terms and conditions of the Tender document.

While any property can be sold by tender, it is particularly suitable for: - Properties where a number of parties must be consulted, for example, properties owned by a family trust or deceased estate - Properties where potential customers would expect to have to do due diligence before submitting an offer, for example, properties with strong development potential.

Promotion

selling the property.

Your home is offered to the market at a fixed price that you determine or by negotiation.

Potential buyers can make offers for you to consider, these offers are usually conditional on various factors the buyer needs to investigate such as finance, builders report, council Lim report contents etc.

Your Barfoot & Thompson Salesperson will assist with negotiations and represents your interests throughout the process.

SOLD Sole vs.

General Agency

Why list as a sole agency versus a general agency? There is an obligation placed on the salesperson to provide a sale, which encourages them to work harder for it.

When you choose Barfoot & Thompson as your sole agent, our track record, selling power and industry knowledge brings the experience needed to achieve outstanding results.– at no extra cost – on both barfoot. co.nz and realestate.co.nz This offer is available to our full-service property management clients.

How should I decide the best way to sell my property

If you have a sole agency agreement, then only the real estate company named on the agreement can do real estate agency work (i.e. market and sell) on the property identified in the agreement. This type of agreement encourages the agency to work harder on your behalf.

If you sign a sole agency agreement, you should not sign up to another agent, as you may have to pay commission for both.

A general agency allows a number of real estate companies to do real estate work for the same property, at the same time.

If you sign a general agency agreement with more than one agency, you would only pay commission to the agency which succeeds in selling your property.

With this type of agreement, every agent has the listing but nobody has responsibility of

Watch: youtu.be/wqX8npCv9Ws Our salespeople share their top tips on how to decide what method of sale is right for your home.

View on youtube, visit our website barfoot. co.nz or drop into a branch for more information about our sale methods.

RECENT SALES The following pages show a summary of sales in the City, Eden Terrace, Freemans Bay and Grafton made by all selling agencies during February 2020. Our sales data includes information submitted by the selling agency and may include some private sales. Where details of a particular sale may not have been able to be fully verified, it may be omitted from our reports. Please do not hesitate to contact any of our sales team if you would like more information, we would be delighted to help you with your real estate needs.

Every reasonable effort has been made to ensure the accuracy of the information presented. Land and floor sizes are approximate, sourced from REINZ, Auckland Council or other public sources and may contain inaccuracies. Barfoot & Thompson Limited (REA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

Auckland City February 2020 1003/79 Airedale Street Sale Price |$830,000

CV | n/a

Floor Size | 75

Bedrooms | 2

CV | $870,000

Floor Size | 62

Bedrooms | 2

CV | $100,000

Floor Size | n/a

Bedrooms | n/a

CV | $100,000

Floor Size | n/a

Bedrooms | n/a

CV | $630,000

Floor Size | 74

Bedrooms | 1

CV | n/a

Floor Size | 38

Bedrooms | 1

CV | $540,000

Floor Size | 51

Bedrooms | 2

CV | $570,000

Floor Size | 51

Bedrooms | 2

CV | $1,040,000

Floor Size | 81

Bedrooms | 2

CV | $670,000

Floor Size | 55

Bedrooms | 1

CV | $220,000

Floor Size | 19

Bedrooms | 1

CV | $235,000

Floor Size | 19

Bedrooms | 1

CV | $235,000

Floor Size | 19

Bedrooms | 1

CV | $520,000

Floor Size | 71

Bedrooms | 1

CV | $520,000

Floor Size | 59

Bedrooms | 2

Floor Size | n/a

Bedrooms | 2

2012/8 Airedale Street Sale Price |$750,000

BS/12(8) Albert Street Sale Price |$151,000

BC/12W Albert Street Sale Price |$120,000

802/8 Albert Street Sale Price |$740,000

5F/100 Anzac Avenue Sale Price |$50,000

206/70 Anzac Avenue Sale Price |$605,000

307/70 Anzac Avenue Sale Price |$598,000

702/70 Anzac Avenue Sale Price |$1,160,000

803/70 Anzac Avenue Sale Price |$660,000

206/133 Beach Road Sale Price |$35,000

623/133 Beach Road Sale Price |$38,000

715/133 Beach Road Sale Price |$35,000

1003/18 Beach Road Sale Price |$188,000

4B/11A City Road Sale Price |$150,000

2407/10-12 Commerce Street Sale Price |$1,005,000

CV | n/a

Auckland City February 2020 3406/10-12 Commerce Street Sale Price |$1,414,500

CV | n/a

Floor Size | n/a

Bedrooms | 2

CV | $400,000

Floor Size | 49

Bedrooms | 2

CV | n/a

Floor Size | 67

Bedrooms | 2

CV | $330,000

Floor Size | 30

Bedrooms | 1

CV | $245,000

Floor Size | 25

Bedrooms | 1

CV | $740,000

Floor Size | 78

Bedrooms | 2

CV | $290,000

Floor Size | 33

Bedrooms | 1

CV | n/a

Floor Size | 69

Bedrooms | 2

CV | n/a

Floor Size | 69

Bedrooms | 2

CV | n/a

Floor Size | n/a

Bedrooms | 3

CV | $2,000,000

Floor Size | 122

Bedrooms | 2

CV | $160,000

Floor Size | 30

Bedrooms | 1

CV | $330,000

Floor Size | 38

Bedrooms | 2

CV | $300,000

Floor Size | 32

Bedrooms | 1

CV | $450,000

Floor Size | 54

Bedrooms | 2

CV | $320,000

Floor Size | 36

Bedrooms | 2

504/53 Cook Street Sale Price |$395,000

505/6 Dock Street Sale Price |$840,000

139/6 Dockside Lane Sale Price |$116,000

2E/50 Eden Crescent Sale Price |$300,000

83 Fisher-Point Drive Sale Price |$970,000

5H/100 Greys Avenue Sale Price |$210,000

12F/1 Greys Avenue Sale Price |$747,500

12F/2-20 Greys Avenue Sale Price |$747,500

501/132 Halsey Street Sale Price |$3,175,000

3/136 Halsey Street Sale Price |$1,945,000

207/135 Hobson Street Sale Price |$133,000

3N/147 Hobson Street Sale Price |$279,000

305/188 Hobson Street Sale Price |$225,000

12G/188 Hobson Street Sale Price |$395,000

10A/189 Hobson Street Sale Price |$318,000

Auckland City February 2020 9D/189 Hobson Street Sale Price |$311,000

CV | $320,000

Floor Size | 37

Bedrooms | 2

CV | $450,000

Floor Size | 97

Bedrooms | 2

CV | $450,000

Floor Size | 48

Bedrooms | 1

CV | $680,000

Floor Size | 62

Bedrooms | 2

Floor Size | n/a

Bedrooms | 2

Floor Size | n/a

Bedrooms | 1

CV | n/a

Floor Size | n/a

Bedrooms | 1

CV | $500,000

Floor Size | 59

Bedrooms | 2

CV | $440,000

Floor Size | 69

Bedrooms | 2

CV | $630,000

Floor Size | 44

Bedrooms | 1

CV | $410,000

Floor Size | 29

Bedrooms | 1

CV | n/a

Floor Size | n/a

Bedrooms | 1

CV | $340,000

Floor Size | 34

Bedrooms | 1

CV | $800,000

Floor Size | 100

Bedrooms | 4

CV | $530,000

Floor Size | 53

Bedrooms | 1

CV | $620,000

Floor Size | 52

Bedrooms | 1

7D/18 Hobson Street Sale Price |$665,000

319/35 Hobson Street Sale Price |$480,000

413/5 Howe Street Sale Price |$678,350

1301/38A Liverpool Street Sale Price |$358,617

CV | n/a

1406/38A Liverpool Street Sale Price |$520,000

CV | n/a

1603/38A Liverpool Street Sale Price |$525,000

4B/52 Liverpool Street Sale Price |$165,000

4A/58 Liverpool Street Sale Price |$155,000

2901/6 Lorne Street Sale Price |$630,000

904/6 Lorne Street Sale Price |$522,000

105/30 Madden Street Sale Price |$879,000

12H/13-17 Mount Street Sale Price |$318,000

1301/8 Mount Street Sale Price |$700,000

1107/145 Nelson Street Sale Price |$545,000

603/147 Nelson Street Sale Price |$525,000

Auckland City February 2020 702A/147 Nelson Street Sale Price |$428,880

CV | $500,000

Floor Size | 40

Bedrooms | 1

CV | $235,000

Floor Size | 21

Bedrooms | 1

Floor Size | 54

Bedrooms | 1

Floor Size | 108

Bedrooms | 2

Floor Size | 66

Bedrooms | 2

CV | $400,000

Floor Size | 31

Bedrooms | 1

CV | $380,000

Floor Size | 43

Bedrooms | 1

CV | $590,000

Floor Size | 64

Bedrooms | 1

CV | $530,000

Floor Size | 57

Bedrooms | 1

CV | n/a

Floor Size | 50

Bedrooms | 1

CV | $250,000

Floor Size | 19

Bedrooms | 1

CV | $530,000

Floor Size | 42

Bedrooms | 1

CV | $150,000

Floor Size | 18

Bedrooms | 1

CV | $370,000

Floor Size | 40

Bedrooms | 2

CV | $380,000

Floor Size | 40

Bedrooms | 2

CV | $490,000

Floor Size | 50

Bedrooms | 2

410/72 Nelson Street Sale Price |$233,500

502/141 Pakenham Street West Sale Price |$865,000

CV | $820,000

805/141 Pakenham Street West Sale Price |$2,100,000

CV | $1,750,000

1103/1 Parliament Street Sale Price |$860,000

CV | $860,000

1202/1 Parliament Street Sale Price |$405,000

909/1 Parliament Street Sale Price |$410,000

33/139 Quay Street Sale Price |$195,000

36/145 Quay Street Sale Price |$290,000

Shed 20/27/139 Quay Street Sale Price |$175,000

322/105 Queen Street Sale Price |$250,000

704/105 Queen Street Sale Price |$407,000

5F/363 Queen Street Sale Price |$230,000

418/430 Queen Street Sale Price |$360,000

519/430 Queen Street Sale Price |$370,000

701/430 Queen Street Sale Price |$530,000

Auckland City February 2020 8C/62 Queen Street Sale Price |$240,000

CV | $340,000

Floor Size | 29

Bedrooms | 1

CV | $540,000

Floor Size | 54

Bedrooms | 1

Floor Size | 67

Bedrooms | 2

CV | n/a

Floor Size | 30

Bedrooms | n/a

CV | n/a

Floor Size | 68

Bedrooms | 2

CV | $560,000

Floor Size | 50

Bedrooms | 2

CV | $220,000

Floor Size | 23

Bedrooms | 1

CV | $610,000

Floor Size | 54

Bedrooms | 2

CV | $440,000

Floor Size | 56

Bedrooms | 1

Floor Size | n/a

Bedrooms | 1

CV | n/a

Floor Size | 57

Bedrooms | 1

CV | n/a

Floor Size | 30

Bedrooms | 1

CV | n/a

Floor Size | 30

Bedrooms | 1

CV | $340,000

Floor Size | 33

Bedrooms | 1

CV | $350,000

Floor Size | 38

Bedrooms | 1

CV | n/a

Floor Size | 39

Bedrooms | 1

902/7 Scotia Place Sale Price |$600,000

402A/32 Swanson Street Sale Price |$775,800

CV | $660,000

5P & 6P/26 Te Taou Crescent Sale Price |$12,000

205/15 Union Street Sale Price |$780,000

407/75 Victoria Street Sale Price |$624,500

8J/113 Vincent Street Sale Price |$170,000

301/17 Vogel Lane Sale Price |$595,000

3F/18 Wakefield Street Sale Price |$560,000

5C/57-59 Wakefield Street Sale Price |$370,000

CV | n/a

2D/57-59 Wakefield Street Sale Price |$324,450

7B/57 Wakefield Street Sale Price |$370,000

7F/57 Wakefield Street Sale Price |$365,000

806/76 Wakefield Street Sale Price |$333,000

6E/82 Wakefield Street Sale Price |$170,000

85 Wakefield Street Sale Price |$355,000

Auckland City February 2020 10 Waterloo Quadrant Sale Price |$267,000

Floor Size | 22

Bedrooms | 1

Floor Size | 32

Bedrooms | 1

Floor Size | 22

Bedrooms | 1

CV | $90,000

Floor Size | n/a

Bedrooms | n/a

CV | $490,000

Floor Size | 54

Bedrooms | 2

CV | n/a

1405/10 Waterloo Quadrant Sale Price |$345,000

CV | $400,000

616/10 Waterloo Quadrant Sale Price |$267,000

CV | $320,000

520G/10 Waterloo Quadrant Sale Price |$78,000

3B/8 White Street Sale Price |$362,000

Eden Terrace February 2020 4G/40 Charlotte Street Sale Price |$565,000

CV | $570,000

Floor Size | 71

Bedrooms | 1

CV | $510,000

Floor Size | 47

Bedrooms | 1

Floor Size | 71

Bedrooms | 2

CV | $520,000

Floor Size | 54

Bedrooms | 1

CV | $620,000

Floor Size | 65

Bedrooms | 2

1E/7 Charlotte Street Sale Price |$462,000

25/42 Saint Benedicts Street Sale Price |$605,000

CV | $590,000

503/145 Symonds Street Sale Price |$458,000

414/184 Symonds Street Sale Price |$572,500

This publication shows data regarding a wide selection of published residential property sales that have recently occurred. It includes information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. Where data is not publicly available, an individual sale may have been excluded from the average results and tallies shown in this report. Every reasonable effort has been made to ensure the accuracy of the information. Barfoot and Thompson Limited (REAA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

Freemans Bay February 2020 9/49 Collingwood Street Sale Price |$970,000

CV | $800,000

Floor Size | 70

Bedrooms | 2

CV | $1,320,000

Floor Size | 130

Bedrooms | 3

CV | $1,140,000

Floor Size | 84

Bedrooms | 2

CV | $870,000

Floor Size | 77

Bedrooms | 2

CV | $1,320,000

Floor Size | 66

Bedrooms | 1

CV | $550,000

Floor Size | 90

Bedrooms | 2

CV | $1,625,000

Floor Size | 125

Bedrooms | 3

CV | n/a

Floor Size | 88

Bedrooms | 2

CV | $280,000

Floor Size | 57

Bedrooms | 1

75 Franklin Road Sale Price |$1,860,000

1406/8 Hereford Street Sale Price |$1,265,000

7/145 Howe Street Sale Price |$870,000

18 Ryle Street Sale Price |$1,370,000

Grafton February 2020 66/3 Burton Street Sale Price |$850,000

26 Claremont Street Sale Price |$1,900,000

LG08/5-9 Madeira Lane Sale Price |$788,640

7C/3 Whitaker Place Sale Price |$216,000

This publication shows data regarding a wide selection of published residential property sales that have recently occurred. It includes information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. Where data is not publicly available, an individual sale may have been excluded from the average results and tallies shown in this report. Every reasonable effort has been made to ensure the accuracy of the information. Barfoot and Thompson Limited (REAA2008) accepts no responsibility should the contents of this market report prove to be incomplete or incorrect.

Awards

Barfoot & Thompson City

City Branch #1 Residential Branch 2018 Barfoot & Thompson City Branch #1 Branch 2017 Barfoot & Thompson REINZ 2017 Large Residential Office of the Year Highest Volume REINZ Manager of the Year Finalist 2017

Meet the team Sandra Forrester’s achievements in real estate over the past 14 years are a result of her commitment, her total professionalism and excellence in customer service which she believes is the foundation to her and her teams success. She has been one of Barfoot & Thompson’s Top 25 performers in residential sales and now heads up one of the most successful, largest and most dynamic teams - City Branch for Barfoot & Thompson.

Sandra sees her role to manage the high expectation requirements not only of her team but also of the landlords, vendors, purchasers and tenants, through strong leadership skills, operating at all times with collaboration at the forefront.

Sandra Forrester Branch Manager 021 404 151

She is a talented and motivated Manager that can demonstrate a strong background of sales management, coaching and leadership within the real estate industry, as well as examples of outstanding business achievements that have resulted in continued sales growth and the development of a superior team culture.

Sandra is somebody who has a strong sense of purpose, innovation and professionalism. She consistently looks to challenge herself within her leadership role to provide her team with a platform of high-performance behaviours geared towards an exceptional client experience.

Barfoot & Thompson is a successful organisation committed to best practice and maintaining a dynamic culture in which leadership, respect and self-responsibility is nurtured. Sandra and the City Branch team operate from the same platform and look forward to the opportunity to work with you.

Property Management team

Tracey Boyle Property Manager 027 298 4982

Stacey Cartmell Property Portfolio Manager 027 501 9785

Shannon Cliffe Senior Portfolio Manager 0277 055 901

Elishea Cox Property Portfolio Manager 027 4319647

Bryan Edgar Senior Portfolio Manager 021 966 067

Jenya Kostyrina Property Portfolio Manager 022 363 8928

Angie Pike-Taylor Property Management Assistant 022 657 8026

Carlie Walker Letting Specialist 027 406 8619

Charlene Wan Property Portfolio Manager

Savannah Williams Property Management Assistant 027 298 4927

Residential Sales team

Alastair Brown 021 333 290

Jason Buckwell 021 566 400

Dave Burgess 0275 485 866

Mike Campbell 021 437 166

Johnson Chen 021 303 016

Aaron Cook 021 612 642

Philip Davis 021 873 934

Liz Derbyshire 021 661 978

Wendy Feng 021 358 988

Alan Guo 021 609 668

Residential Sales team (continued)

Rita Herceg 021 066 9852

Holly Huang 021 190 8088

Paul Humphries 021 588 843

Belinda Illingworth 021 999 800

Maggie Jin 021 074 5868

Yasu Ka 021 982 908

Alexander Kramarenko 021 049 4824

Lauren Lee 022 591 1883

Claire Leonard 021 501 448

Livia Li 027 560 9668

Jack Li 027 585 8855

Luke Shi 021 137 6845

Stephen Shin 021 982 980

Hanok Shin 021 665 500

Leo Shin 027 777 9982

Hayley Sok 021 132 8985

Ari Tidyman 021 026 46621

Annie Xu 022 179 7708

Emily Chen Ye 0274 318 989

Eric Yu 022 4066 886

Estee Zeng 021 911 412

Tommy Zhang 021 1668 443

Sean Zhang 021 832 479

Rico Zhao 021 854 718

Selina Zheng 021 049 7697

AKTSM5

Deal with the company that does the most business.

There’s a reason for it.

Barfoot & Thompson City Cnr Fort Street & Commerce Street, CBD, Auckland 1010 Residential Sales 09 307 6340 Property Management 09 307 6310 Email city@barfoot.co.nz

barfoot.co.nz/city