HOME: WHERE THE HEART IS

The year of Covid-19, 2020, continues to buck historic trends in the residential property market – with an immediate surge in post-election listings the latest convention to defy previous patterns.

Bayleys Ponsonby leading salesperson Blair Haddow, said that traditionally following elections Auckland’s residential property market ‘took a breath’ to analyse the voting results before once again ramping up its pace throughout spring and then into the lead up to Christmas.

However, this year the market has kicked into full swing literally days, rather than weeks, after the election result was announced on October 17.

“Indications are this was partly because the election was delayed by a month as a result of the second Covid-19 lockdown restrictions – pushing the election further into spring. And also, partly because of sellers looking to make the most of the on-going buyer demand evidenced throughout August and September - when sales volumes went through the roof at a time when they have been traditionally at close to their lowest seasonal levels,” said Blair Haddow.

“Having one political party in a clear governing position after the election has also removed the usual delay created by various coalition partners negating their representation around the cabinet table. This year, the make-up of Government was all done and dusted on election night… and my vendors reacted instantaneously with an immediate ‘green light’ to bring their listings to market.”

Among Blair Haddow’s latest selection of salubrious listings around Herne Bay, St Marys Bay, and Grey Lynn, which went live immediately after the election, are a handful of large executive-style family homes - including:

25 Hackett Street, St Marys Bay - a completely transformed five bedroom/three bathroom home with two living areas and stunning views of Auckland’s CBD, Westhaven Marina, and the Inner Harbour. The renovation has seen an upper level with wrap-around verandah added to what was the foundation villa footprint. The home’s in-ground heated swimming pool sits alongside landscaped hedging and lawn.

19 Chamberlain Street, Grey Lynn - a converted pair of flats now a brand new two-level family dwelling with five double bedrooms, three bathrooms, and three living spaces, including a teenagers’ retreat. Sitting on the ‘sunny side’ of the road with a north-facing aspect, the home has expansive views out to the Waitakere Ranges overlooking a tiered garden leading down to an in-ground salt water swimming pool.

77 Albany Road, Herne Bay - a four-bedroom/two-bathroom architecturally-designed villa with sought-after off-street parking for three vehicles provided from two separate street access points. Showcasing the visionary craft of respected architect David Ponting, the home features two separate living areas.

20 Barrington Road, Grey Lynn - a three-year-old threestorey townhouse with three bedrooms and two bathrooms. The concrete-built terraced unit has an enormous deck and outdoor entertainment area.

16 Wellpark Avenue, Grey Lynn - a four-bedroom/two-living area residence with a private back yard opening directly onto the littleknown Francis Reserve. Designed by Auckland architect Greg Jones, the home has a an office/study, and a relaxed outdoor entertaining space covered by a Louvretec roofing system.

The impressive portfolio of Bayleys Ponsonby new listings across Herne Bay, St Marys Bay, and Grey Lynn, adds to Blair Haddow’s pre-election listing of Unit 2 at 55 Kelmarna Avenue in Herne Bay -

25 Hackett Street, St Marys Bay

19 Chamberlain Street, Grey Lynn

77 Albany Road, Herne Bay

20 Barrington Road, Grey Lynn

16 Wellpark Avenue, Grey Lynn

a terraced freehold three-bedroom/two-bathroom townhouse which Blair expects to sell by the end of this year for around $1.95m. Units 1 and 3 in the same block have already sold off-plan to owneroccupiers with completion scheduled for early next year.  PN

Local Market Wrap with Charlotte Kofoed

Spring brings higher prices along with increased available stock in the $2M-plus price bracket.

September saw a real step-change in the tempo of the greater Ponsonby real estate marketplace with the highest number of lending capacity.

September property sales in seven years - 74 completed transactions - as seller reluctance waned in the face of some very strong local results over the last quarter.

The increase in available stock didn’t halt general price momentum. The REINZ September statistics for the greater Ponsonby area (Ponsonby, Grey Lynn, Herne Bay, Saint Marys Bay, Freemans Bay, and Westmere) show that the median sell price for greater Ponsonby jumped 15% from August to a heady $1.9M, breaking a period of more narrow average sell price movements over the last few months. The greater Ponsonby marketplace also significantly outperformed the wider Auckland market in terms of median sell price growth (15% Perhaps you are looking to help a young family member get onto the

growth vs 6% growth for Auckland overall).

A significant driver of the median jump was an increased proportion of ‘family stock’ property coming to market in Grey Lynn and Ponsonby in particular; larger 3 to 5 bedroom homes in closely held streets such as Wellpark Avenue, Selbourne Street, Admore Road, and John Street in the $2-3M price bracket that have been very thin encouraging to see the green shoots of affordable housing options

on the ground stock-wise over the preceding period.

As more sellers decide to meet the market we anticipate the selling season to be longer than usual, particularly with recent Reserve Bank commentary signalling a possible return to tighter LVR restrictions at some point in the New Year. This is encouraging many sellers to list their property before the buyer pool is potentially affected. If you campaign before Santa says hasta la vista to 2020! (thank-goodness).

THE SUPER FIRST HOME BUYER An interesting development in the buyer pool over the market over the last three months has been the emergence of the ‘super first home buyer’, and in our observations, this group has been a significant driver of the recent market momentum. These super first home buyers have the following attributes;

• Purchasing their first home (or first property that they will live in compared with an investment apartment or similar) • Most are couples with young families

• Most have at least one family member in a stable professional occupation – engineers, architects, urban planners, and the like that the banks consider being attractive applicants in terms of

We are observing that these buyers are very active in the $2.0M - $3.5M price bracket, much more so than previous economic cycles, and are competing for 3-4 bedroom family homes with confidence and conviction. Several aspects can make your property more attractive to these particular buyers when preparing your home for sale that I will canvass in the December edition.

FIRST HOME BUYER AND DOWNSIZER ALERT! property ladder, or maybe you’re considering downsizing from your larger home in the greater Ponsonby area to something smaller, now that you’re mostly out of town at the bach or the children have all left home.

With greater Ponsonby prices sadly out of reach for many, it has been are thinking about selling, call me now to book your pre-Christmas

within the general area. Several more affordable apartment options have been or are in the process of being completed within the central suburbs of Point Chevalier, Avondale, and New Lynn, along with the significant mixed-model development at the Carrington Unitec site where up to 4,000 homes are to be developed over 15 years.

For those looking for more space, New Zealand Sotheby’s International Realty are very pleased to have recently brought to market the Alford Terraces in Waterview. Comprising of 21 well-crafted homes by Shanahan Architects and made with care by GJ Gardiner Homes, this water-side development represents a practical and affordable opportunity for local downsizers and first home buyers alike. With 2 bedroom options starting from only $889,000 and scheduled for completion in December 2021, this outstanding opportunity will not last long. The location is hard to beat, being minutes from shops, beaches, parks and only 10 minutes drive from the city center. Call me or my colleague Hamish Kofoed for more information.

• Many have recently returned from overseas (both before and after the lockdown)

• Typical age profile 28 - 38 Thank you for reading.  PN

CHARLOTTE KOFOED, M: 021 241 9394, T: 09 353 1220, www.ckre.co.nz, E: charlotte.kofoed@nzsir.com

Properties Sold Average Sell Price Median Sell Price September 2020 73 $1,910,418 $1,900,000 August 2020 51 $1,697,984 $1,650,000 September 2019 63 $1,661,659 $1,495,000

Modern Freehold Townhouse This fresh and inviting terrace house is a must view. Designed by Studio Pacific Architecture it offers prime location living, just a short stroll to the iconic Ponsonby Road, Wynyard Quarter and the America’s Cup Village. The versatile floorplan is suitable for a variety of living situations and includes a double tandem carport, and an abundance of storage. Comfort and warmth are catered for with a heat pump and luxury twist pile soft carpet. The innovative layout incorporates a unique atrium alfresco area, completely private yet bathed in natural light. Maintained beautifully by the current owner, this easy-care home is in extremely tidy condition with a contemporary colour scheme and sophisticated, peaceful ambiance, ready for you to move in and add your own style over time. The pet-friendly Beaumont Quarter community which features visitor car parking, an indoor heated pool, spa, sauna, and gym is constantly in demand for its effortless lifestyle appeal.

3 2 2 Floor: 134 sq m (approx.)

AUCTION: 6:00 p.m. Wednesday 11 November 2020 On-Site (unless sold prior) VIEW: nzsothebysrealty.com/NZE11307

CHARLOTTE KOFOED | M +64 21 241 9394 charlotte.kofoed@nzsir.com HAMISH KOFOED | M +64 27 655 2250 hamish.kofoed@nzsir.com

Each Office Is Independently Owned and Operated. Browns Real Estate Limited (licensed under the REAA 2008) MREINZ.

New Zealand Sotheby’s International Realty is excited to introduce Alford Terraces, a boutique development crafted by Shanahan Architects and nestled right on the serene coastal shores of the Waterview peninsula. Ideally positioned down a quiet cul de sac, and only minutes drive from a range of shopping precincts, beaches and parks, Alford Terraces offers a unique inner-city apartment alternative with space, finesse and waterside splendour. Featuring a mix of duplex, terraced and stand-alone homes and built to last by GJ Gardner Homes, this initial release will not last long – call now to secure your future.

HAMISH KOFOED +64 27 655 2250 hamish.kofoed@nzsir.com CHARLOTTE KOFOED +64 21 241 9394 charlotte.kofoed@nzsir.com

Lot 13 - 2 Bedroom Terrace

Lot 20 - 3 Bedroom Duplex Lot 5 - 3 Bedroom Duplex Lot 11 - 3 Bedroom Terrace

Lot 12 - 3 Bedroom Duplex Lot 21 - 3 Bedroom Duplex Lot 1 - 4 Bedroom Townhouse

Single Park Single Park Single Garage Single Garage Single Garage Single Park Double Garage 83 sqm 110 sqm 136 sqm 135 sqm 135 sqm 144 sqm 195 sqm $889,000 $1,129,000 $1,295,000 $1,299,000 $1,299,000 $1,499,000 $1,795,000