Barfoot & Thompson | Takapuna

Welcome to our SOLD – Takapuna & Hauraki Market Report magazine for November 2022

Our magazine contains the latest available information regarding property sales in Takapuna and Hauraki 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.

Nicky Rhodes and the Takapuna team

LATEST NEWS

Peter Thompson Managing Director

Stability and Modest Confidence Returns to Auckland Housing Market

A level of stability has returned to the Auckland housing market albeit one trading at a lower level than during peak activity in the last quarter of 2021.

The median sales price for October at $1,092,500, was consistent with where prices have been at for the past three months. This price was $28,000 higher than last month’s median price, and $57,500 lower than in October last year.

While it represents a fall of 14 percent on the all-time high residential median price in November, the median price has now stayed within a 4 percent range for the past four months.

Sales numbers are also starting to edge up, and October’s sales of 627 are 2.1 percent higher than those for September and 3.8 percent higher than the average number of sales for the previous three months.

They are modest improvements but represent a degree of confidence returning to a market that has been under price scrutiny and rising mortgage interest costs for much of the year.

Sales are being made with buyer interest currently focused on the under $2 million market. At prices above this, buyers and vendors are still looking to find common ground around property values.

In October we sold 37 homes for more than $2 million, representing 5.9 percent of our sales. This is the lowest number of sales in this price category

for more than two years. The focus on sales under $2 million contributed to the average sales price for the month being $1,136,982, a decline of 2.4 percent on September’s average sales price.

October’s average price was down 11.1 percent on December’s all-time peak average price. While rising mortgage interest rates are proving a deterrent, buyers are recognising opportunities at current prices.

New listings for October at 1371 were up 5.4 percent on last month’s number but were lower than we normally see at this time of the year. Total listings at month end were 4743, making choice the best it has been for five months.

Activity across our lifestyle and rural markets in Northland and Greater Auckland in October was a modest improvement over September’s slow month, with total sales value lifting to $45.9 million.

Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.

Market share and figures

Overall market share

For the period from 1st November 2021 to 31st October 2022, we sold 41% of all properties in the area – that’s over 1400 sales made by Barfoot & Thompson!

Figures shown on this page include information from multiple sources and published reports of sales made by most Real Estate agencies and may include private sales. The area shown includes suburbs in the Auckland North Shore region (excluding Coatesville). Totals are cumulative, baselined on the 13th of each month for the available results made in the previous calendar month. 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.

Number of

Average

HOW WE HELP LANDLORDS

Property management with peace of mind

In our recent editions we have discussed the steps involved in selling your home. This article covers how Barfoot & Thompson also help landlords manage their property.

Remember we have more information and a range of videos to help whether you are buying, selling or renting.

Find out more about our Property Management service on our website at this link: barfoot.co.nz/landlords/how-we-helplandlords

How we help landlords manage their property

As an investor, you want to know your rental property is in safe hands. That’s where Barfoot & Thompson comes in.

Stress-free property management

With Barfoot & Thompson, not only do you have the strength of Auckland’s largest and most trusted real estate company behind you, but you have peace of mind that property management experts are looking after your investment.

So instead of dealing with the day-to-day issues, you can sit back and relax, confident that your property is in safe hands.

We manage 15,000+ rental properties

Barfoot & Thompson is Auckland’s leading real estate company and New Zealand’s largest privately owned real estate company.

It is still run by the Barfoot and Thompson families and has been for 90 years.

We manage over 15,000 rental properties and with dedicated property managers in over 60 branches and one of Auckland’s largest rental portfolios, we have the experience and scale to help you.

We can help you find the right tenants and get the right rent

– Rigorous selection process

– Knowledge of the local rental market will ensure you get the right price

– Regular rent reviews – see an increase in rent received to match market changes

– Extensive portfolio of potential tenants: we’ll do our best to ensure your property is always tenanted.

We resolve disputes

Because property management is our area of expertise, and as members of the Real Estate Institute we understand the legislative ins and outs so can deal with any issues that arise quickly and effectively. When required, our property managers represent our landlords at mediations and tenancy tribunal hearings.

“I never have to worry about my rentals: the team at Barfoot & Thompson is on top of all the issues. I just get the statements at the end of the month. This is exactly the service I want.”

C. Stokes

Find out about how our property management can help you manage your rental properties, no matter how big or small your rental portfolio.

www.barfoot.co.nz/landlords

You can be sure that your money is in good hands

Handling of all rental funds is managed through our head office accounting department.

And, unlike many other property management companies, all money collected on your behalf is held in an audited trust account – so you know where it is at any time.

Barfoot & Thompson Ltd is also licensed under the Real Estate Agents Act 2008.

Did you know?

When you

advertise

a

property

for rent or for sale with Barfoot & Thompson, it will be advertised on barfoot.co.nz and realestate.co.nz

If your rental property becomes vacant, you’ll receive extra online marketing – at no extra cost –on barfoot.co.nz as well as realestate.co.nz

This offer is available to our fullservice property management clients.

We have local knowledge

Because our property managers are based in Barfoot & Thompson branches across Auckland and Northland, they understand their local rental market, have access to a wide portfolio of potential tenants, and can keep an eye on your property easily.

Every branch has support staff to assist you should your property manager be out of the office.

Membership discount: Auckland Property Investors Association

As Gold sponsors of the Auckland Property Investors Association (APIA), Barfoot & Thompson full service property management clients, get a membership discount to the APIA. The APIA is a not-for-profit organisation which promotes education and networking for it’s members, helping them become betters landlords and astute property investors.

Regular

communication,

clear information

We report back to you on a regular basis the findings of our inspections, send statements at the end of each month, and keep you informed of market conditions, rent reviews and other relevant information.

The best technology in the business

Barfoot & Thompson has invested in state-of-the-art property management systems – which contain the details of all rental properties we manage. By linking all quotes, repairs, maintenance, photos and rent payments to each rental account, all information related to a property is at our fingertips – invaluable for regular reporting and should a dispute occur.

Property Insider

Every month, we send out an e-newsletter to our landlords to keep them in touch with what’s happening in the rental market.

From the latest suburb reports on sales, rent and yield (return on investment) to rental reports and landlord tips, you can get it all in the Property Management Insider – subscribe now.

We also run regular property investment seminars for our property management clients, where you can hear the latest information and tips on the sales and rental market, the New Zealand and Auckland economies and so much more.

Want more information on rental prices and return on investment?

View our latest suburb report on sales, rent and yield.

See our latest rental report organised by area. Contact one of our property managers or visit a branch near you.

www.barfoot.co.nz/propertymanagement

The following pages show a summary of sales in Takapuna & Hauraki made by all selling agencies during October 2022.

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.

Takapuna & Hauraki October 2022

2B Arthur Crescent

$2,310,000 $1,975,000 CV

Land Size Sale price 237 Bedrooms 4 Floor size 160

309/9 Byron Avenue

$200,000 $220,000 CV

Land Size Sale price n/a Bedrooms 1 Floor size 30

1/20 Dominion Street

$908,000 $1,075,000 CV

Land Size Sale price Crosslease Bedrooms 2 Floor size 97

36A Esmonde Road

Land Size Sale price 579

$1,280,000 $1,560,000 CV

Bedrooms 2 Floor size 81

GD/175 Hurstmere Road

Land Size Sale price n/a

$2,805,000 $2,475,000 CV

Bedrooms 3 Floor size 136

254B Hurstmere Road

$2,480,000 $5,250,000 CV

Land Size Sale price 917 Bedrooms n/a Floor size 490

19A Jutland Road

$1,395,000 $1,850,000 CV

Land Size Sale price Crosslease Bedrooms 4 Floor size 180

6/4 Jutland Road

Land Size Sale price 96

$1,600,000 $1,525,000 CV

Bedrooms 4 Floor size 148

46 Napier Avenue

Land Size Sale price Crosslease

$1,325,000 $1,475,000 CV

Bedrooms 4 Floor size 150

17A Walter Street

Land Size Sale price Crosslease

$1,160,000 $1,375,000 CV

Bedrooms 3 Floor size 180

Meet the team

After many years spent building up a very successful real estate career in the central suburbs of Auckland, Nicky Rhodes made the transition to the North Shore in 2008 - back to her roots, where she grew up.

The move brought about a much anticipated lifestyle change for Nicky and her family and she went on to thrive in the competitive North Shore residential market for five years. In 2013, she answered a call to move on to new and exciting horizons, taking up the position of Barfoot & Thompson Takapuna branch manager.

Previously an extremely results-driven agent, renowned for being one of the highest performers in her last company, she brings this same passion for success and results to her management role. Nicky loves to set new, higher goals and encourages the Takapuna office to do likewise.

Rhodes Branch Manager 021 378 283

A focused and charismatic individual, who listens carefully and works tirelessly to make things happen, Nicky is convinced that with organisation and the best possible systems and technology in place, nothing and nobody slips through the cracks.

She brings this very philosophy to management, constantly going out of her way to ensure vendors, purchasers, landlords and tenants, end up thrilled with their Barfoot & Thompson experience - and ensuring that her team do the same.

Those who have the pleasure to work with her will also attest to her honesty and high ethical standards. She tells it like it is and is never afraid to offer honest frank advice, giving all the information she possibly can in order for them to make the most informed decisions.

The team at Barfoot & Thompson Takapuna have an in-depth knowledge of the coastal real estate scene and a passion for helping people buy, sell or rent in this desirable Shore suburb.

With several salespeople who have lived in the area for more than 30 years, and others whose families have been in Takapuna for generations, the team at Barfoot & Thompson know the area and the local property market inside out.

Armed with the latest market information and the vast resources of Auckland’s leading real estate company, they provide honest advice, open communication and exceptional service to all of their customers. Barfoot & Thompson Takapuna also offer a dedicated Property Management team to manage all aspects of your investment property, or help you find the perfect rental.

With its sandy beaches, boating access and thriving shopping village, Takapuna is one of the Shore’s most exclusive suburbs. Properties range from traditional weatherboard and brick cottages to larger family properties, contemporary homes, town houses and apartments.

Locals are spoilt for choice when it comes to retail therapy with Shore City Shopping Centre as well as the excellent boutique shopping and dining options of Takapuna village. The area is popular with families, and boasts a great choice of primary, intermediate and secondary schools.

Nicky

Monique Barker