Property Talk SUMMER 2018
What’s Happening in the Auckland / Waiuku Market? The trend in the median price has flattened over the past 18 months with the volume trend flat for the past year. The days to sell trend continues to ease. The House Price Index is remaining fairly steady, remaining effectively the same over the past two years.
O
ur seasonally adjusted results tell us that, compared to what we expect when moving from August to September, the observed stability in median price was essentially what was expected and the observed large decrease in sales count was only fractionally more than expected. The current Days to Sell of 39 days is more than the 10-year average for September which is 33 days. The level of inventory available for sale currently sits at 23 weeks, four and a half weeks more than in September 2017. Compared to September 2017: • Median Price is the same • Sales Count down 2.1% • Days to Sell increased 2 days Compared to August 2018: • Median Price is the same • Seasonally adjusted median price up 0.3% • Sales Count down 11.7% • Seasonally adjusted sales count down 0.5% • Days to Sell decreased 3 days
The median sale price for Waiuku in September 2018 was $570,000, with 17 sales over 46 days. Bindi Norwell, REINZ CEO, says “The Auckland market continues on its stable trajectory that it has been on for some months now. With no major changes to market conditions anticipated, we expect that the market will stay the same for the next few months. Breaking Auckland’s market down, we saw quite mixed results during September with the AlbertEden-Roskill Ward experiencing a 24.6% price rise in the annual medi-
an price, whereas the Waitemata and Gulf Ward saw prices fall 21.3% annually showing how different the Auckland market is depending on which area you’re looking at. There is less interest from first home buyers and fewer investors when compared to September 2017 - but compared to the past few months we’re starting to see interest levels rising from both first-time buyers and investors. With listings up significantly in September we expect a lift in volumes going forward.”
Median Sale Price for September 2018
$850,000
AUCKLAND REGION
Franklin District
$681,000 $993,000
Glenbrook
Waiuku
$570,000
Disclaimer: Every effort has been made by Mike Pero Real Estate to ensure that the information contained in this publication is complete and accurate. Prospective purchasers and sellers should make their own enquiries to verify any information contained herein. While our information has been prepared with due diligence and care, Mike Pero Real Estate does not accept liability for any errors, mistakes, omissions, or inaccuracies whether expressed or implied.
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Annual Median Price Changes
REINZ Residential Statistics Report for September 2018 Lowest sales volumes in 8 months a result of extremely low listings in July, says REINZ.
SEPTEMBER 2017-2018
“Traditionally there is a lag of about six weeks between significant movements in listings and sales results. With July’s listings down by 5.4% year-on-year and an all-time low level of listings in seven regions, it is little wonder that September’s sales volumes were so low. There simply were not as many properties for sale resulting in a very quiet start to spring,” says REINZ Chief Executive, Bindi Norwell. Median house prices for September 2018 were recorded as follows:
Record Median Sales Increased Stable Decreased
REINZ House Price Index The REINZ House Price Index for New Zealand, which measures the changing value of property in the market, increased 4.0% year-on-year to 2,742 a new record high for the country. The HPI for New Zealand excluding Auckland increased 7.4% from September 2017 to a new record high of 2,621. The Auckland HPI increased 0.4% year-on-year to 2,888. The REINZ HPI again saw 11 out of 12 regions experience an increase over the past 12 months, highlighting the continued strength of the property market. The only exception was Canterbury with a minor decrease of -0.1% year-on-year.
Northland
$505,000
Auckland
$850,000
Waikato
$520,000
Bay of Plenty
$550,000
Gisborne
$342,500
Hawke’s Bay
$445,000
Manawatu/Wanganui
$321,000
Taranaki
$350,000
Wellington
$594,500
Nelson
$592,000
Marlborough
$418,000
Tasman
$610,000
West Coast
$200,000
Canterbury
$445,500
Otago
$420,000
Southland
$258,000
NZ excluding Auckland
$466,750
NEW ZEALAND
$556,000
The REINZ House Price Index shows: New Zealand
+4.0% on Sept 2017
NZ ex Auckland
+7.4% on Sept 2017
Auckland
+0.4% on Sept 2017
Days to Sell
New Zealand
+0.8% on Aug 2018
The median number of days to sell a property nationally increased by 2 days from 34 to 36 when compared to September last year.
NZ ex Auckland
+0.6% on Aug 2018
Auckland
-0.9% on Aug 2018
This month the Gisborne region had the highest annual growth rate of 14.9%, followed by Manawatu/ Wanganui in second place with an annual growth rate of 14.6% and in third place was Otago with a 12.7% annual increase.
For New Zealand excluding Auckland, the median days to sell increased on an annual basis by 3 days from 32 to 35. Auckland saw the median number of days to sell a property increase by 2 days to 39 days (up from 37 in September 2017). This is the lowest median days to sell since April this year.
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For more REINZ HPI information, see https://www.reinz.co.nz/reinz-hpi Source: REINZ
BEST FOOT FORWARD When putting your home on the market, first impressions count. Before you sell, it is best to get your house and garden looking its very best. A house that is well cared for and welcoming will encourage more buyers in the door and increase your chances of selling quickly and at the price you are looking for. Follow the tips below to help make sure that potential buyers love your house as much as you do. CLEAN, CLEAN, AND CLEAN AGAIN Most of us live with a few fingerprints on the windows or cobwebs in the corners, but before buyers inspect your home it is a good idea to do a spring clean of every room. Dust all surfaces and polish appliances and tapware to a shine. ● Make sure the lawns are mowed and the garden looks tidy and well cared for. ● Uncover the BBQ and put the wheelie bins out of sight. ● Leave cars in the garage or on the street to keep the driveway clear. ● Remove washing from the washing line and pack drying racks away. ● Put away any dehumidifiers or heaters. ● Ensure all lightbulbs are working. ● Keep the kitchen spotless, remove and dishes and hang clean teatowels. ● Tidy towels in the bathroom and put the lid down on the loo.
LESS IS MORE A cluttered house can look smaller than it is. To maximise the space in every room take a look at your home with a critical eye and decide what you can remove to declutter without making the house seem empty. NOTHING PERSONAL When buyers visit a home with lots of personal items they can find it difficult to imagine themselves living there. Packing away family photos and kid’s drawings while your house is on the market is a great way to enhance the appeal. Also, be sure to tuck any toothbrushes and cosmetics into a drawer before a viewing. FINAL TOUCHES You only get one chance to make a first impression and a clear, tidy entranceway with a vase of beautiful fresh flowers is a lovely way to greet viewers.
We try harder. “We’ll go to great lengths to sell your home for more, in less time and with lower fees.” 0800 000 525 mikepero.com
Mike Pero Real Estate Ltd. Licensed REAA (2008)
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WAIUKU
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