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Monthly Market Watch | Northland | JUNE/JULY 2018

Welcome back to Harcourts Optimize Group’s monthly market report

Hello and welcome back to our latest newsletter!

Wow, it has been a big couple of months for our team at the Harcourts Optimize Group. To start with I would like to congratulate a couple of people…

At the end of May, Harcourts New Zealand held their annual conference and awards dinner. Pete Peeters, our NAI Commercial leader took out the Harcourts Top National Commercial Salesperson for New Zealand for the 2017/18 year. He is leading the country in commercial real estate - a big congratulations to Pete, Cheryl and Ants in Team Peeters. Secondly, our Property Management Pods lead by Rachel Te Raki and Keely Stubbs were ranked in the top 20 Harcourts Property Managers across New Zealand. Well done to our hard-working Property Management Team.

As some of you may know, we moved offices from Bank Street to our current location on Robert Street in 2017 and our wonderful new facilities were awarded the Best Presented Office Nationally – something we couldn’t be prouder of. Then to top this all off, Harcourts was named the Most Trusted Real Estate brand by the Reader’s Digest for the sixth year running!

This month we celebrated in style at our own local annual team awards where our team was recognised for their great performance and success throughout the last real estate year (see last page).

Speaking of real estate, the last month has been a more exciting start than usual to the cold months with both New Zealand and Northland reaching new record median sale prices. Northland is now sitting at $475,000 and with most of the properties on the market sitting above the $500,000 bracket, there is the suggestion it 043 Mike Beazleycould keep rising. Properties are taking a little longer to sell, as is usual in Winter, but volume is still strong with an increase month-on-month between April and May.

The median price is increasing at a much slower rate than we’ve seen in the last 18 months, but this is to be expected as the Auckland market now is regressing.

The months ahead are likely to see a seasonal drop in sales volumes and a relax on the days to sell, but I wouldn’t be surprised if our prices keep going up – for a little while anyway!

Until next month!

By Mike Beazley, Owner of Harcourts Optimize Realty Ltd

NZ Stats jun jul

National Housing Prices

The record price for New Zealand of $562,000 continues to highlight the buoyancy of the housing market across the country. 13 of the 16 regions experienced an annual price increase with just Auckland, Gisbourne and Southland missing out. The number of homes sold for less than $500,000 decreased to representing just 42.4% of the market, as suggested by the new national median price.

National Statistics

house   Median Sale Price: $562,000  graph  Change Since Last Yr: + 5.0%     time  Avg Days on Market: 38

 

 Market Watch: Whangarei

Whangarei had a great month in May with sale prices up 8% month-on-month and 5.6% year-on-year. Volumes are down however with lower volumes competition increases and properties often sell for better prices.

house   Median Sale Price: $475,000   graph  Properties Sold in Month: 116    time  Avg Days on Market: 47

Market Watch: Far North

The Far North had a significant 16% decrease in price month-on-month and a 4.9% decrease in price year-on-year. Now that holiday homes are no longer in peak selling season, the market seems to have relaxed with a good volume of standard residential sales as opposed to the big holiday homes on the market through the warm months.

house  Median Sale Price: $385,000  graph  Properties Sold in Month: 69   time  Avg Days on Market: 47

Market Watch: Kaipara

The Kaipara District is always tumultuous, given the smaller sales volumes in the region. The median sale price fluctuates heavily depending on the size of land parcels sold. The median price gives an enormous 50% increase to month-on-month prices but is just a 1.7% increase year-on-year. There is however, a consistently growing volume of properties selling in the region.

house  Median Sale Price: $550,000  graph  Properties Sold in Month: 41   time  Avg Days on Market: 47   home appraisal cropped

Market Watch: Rentals

 Average Rent in Whangarei: $420.00 per week Properties Leased: 14
 Average Properties Listed Online: 23  Property Viewings: 132
 Days on the Market: 22
 Enquiries: 1353

 

Have you checked out our brand new group website?

www.HarcourtsOptimizeGroup.co.nz

Harcourts New Website

On the Optimize Group website you can find all sorts of things including listings, team information, local news, local event details, important information on selling, buying or renting, copies of our Market Update newsletter, interesting stories about property and the team and so much more!

Visit it today and feel free to give us feedback - we want our business to be as helpful as possible to you.

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