Te Atatu Market Report

TE ATATU MARKET REPORT March 2021 barfoot.co.nz/te-atatu Welcome to our SOLD – Te Atatu Market Report magazine for March 2021 Our magazine contains the latest available information regarding property sales in Te Atatu 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. Leonie Higgins and the Te Atatu team Te Atatu branch P 09 834 3570 534 Te Atatu Road E [email protected] Te Atatu, Auckland 0610 barfoot.co.nz/te-atatu LATEST NEWS Good year’s start to Auckland property sales continues in February In February, Auckland property sales with the average price reaching were stronger than they were at $1,075,408, up 0.7 percent on the height of the last property cycle January’s average price, and a between 2015 and 2017. median price of $1,010,000, up 3.6 percent in a month. “In February we sold 1,124 properties, and you have to go back 17 years to “February’s median price was the find a February when we sold more highest on record, and $5,000 Peter Thompson homes,” said Peter Thompson, Managing higher than the previous record set Director Director of Barfoot & Thompson. in December. “In terms of sales numbers and the “At month’s end we had 3,416 prices paid, February was exceptional. properties on our books, the highest number for three months. “More than half the homes sold in the month went for prices in excess of $1 “This number, combined with the million, whereas last year on average level of homes in the sales pipeline, $1 million homes accounted for a little will contribute to March likely being above 40 percent of monthly sales. a strong sales month. “In January homes in this price “The market is now set to remain category edged up to 49 percent of active throughout autumn. sales, and in February the trend was “Rural and lifestyle property activity consolidated with $1 million plus sales in February was nearly three times reaching 56 percent of all sales. as active as it was for the same “The speed with which this percentage month last year. has increased underlines the “Increased payout projections for significant movement in prices that dairy farms, combined with banks have occurred in recent times. again lending on this type of property, “In February we listed 1,941 new has seen an increase in demand for properties, a significant number for a dairy land. There is also strong interest February, but it did nothing to take the in demand for land to plant trees. edge off Auckland buyer demand or “Top end lifestyle homes are in short dampen price increases. supply, which has caused a lift in bare “Both the average and median sales land sales especially for elite sites and prices increased during the month land suitable for subdivision.” Sales data Te Atatu Peninsula & Te Atatu South February 2021 Average sale price: $1,180,677 Highest sale price: Median sale price: $1,990,000 $1,127,500 Lowest sale price: Median CV: $520,000 $907,500 Total sales Sales $0-$750K: 2 February 2021: 62 Total sales Sales $750K - $1M: 19 February 2020: 50 Sales $1M-$1.5M: 32 Total monthly sales are up 24% compared to the same period last year. Sales $1.5M+: 9 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. Market share and ﬁgures Overall market share Barfoot & Thompson Over the last 12 months, Barfoot & Thompson sold more property in our area than any competitor. 45% For the period from 1st March 2020 to 28th February 2021, we sold 45% of all properties in the area – that’s more than 2600 sales made by Barfoot & Thompson! Market leaders We sell across all price brackets and types of property. Here’s proof why people continue to list and sell with Barfoot & Thompson. Market share $0-750k Market share $750k-1M Market share $1-2M Barfoot & Thompson Barfoot & Thompson Barfoot & Thompson 44% 44% 47% Market share $2-3M Market share $3+ Barfoot & Thompson Barfoot & Thompson 41% 30% * 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 local area shown includes: Avondale, Blockhouse Bay, Edmonton, Glen Eden, Glendene, Green Bay, Henderson, Herald Island, Hillsborough, Hobsonville, Huapai, Kelston, Kumeu, Lynfield, Massey, McLaren Park, New Lynn, New Windsor, Ranui, Riverhead, Royal Heights, Sunnyvale, Swanson, Taupaki, Te Atatu Peninsula, Te Atatu South, Waiumauku, Waitakere, Waterview, West Harbour, Western Heights, Whenuapai, Woodhill. Totals are cumulative, baselined on the 13th of each respective month for sales in the previous calendar month. Number of sales 1st December 2020 to 28th February 2021 compared to same period last year. 65 Avon dal e 89 28 Glendene 37 12 Kelston 15 137 Massey 167 73 Te Atatu Peninsula 93 54 Te Atatu South 93 0 20 40 60 80 100 120 140 160 180 Same Period Last Year Last 3 months Same period last year Last 3 months 60% of properties in Te Atatu* sold for $1 million or more over the last 3 months *Te Atatu Peninsula & Te Atatu South Average sale price 1st December 2020 to 28th February 2021 compared to same period last year. $953,839 Avon dal e $1,115,930 $863,209 Glendene $849,865 $731,333 Kelston $876,520 $904,982 Massey $874,729 $907,275 Te Atatu Peninsula $1,259,933 $835,655 Te Atatu South $1,053,739 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 Same Period Last Year Last 3 months Same period last year Last 3 months 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. Where sales information was not publicly available, an individual sale may have been excluded from the average results and tallies. 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. TIME TO SELL! OFFERS & NEGOTIATION TOP TIPS Why working with Barfoot & Thompson can help sell your home. In our recent editions we have examined the steps involved in selling your home from getting ready to sell right through to the ins and outs of open homes. This article discusses what to expect when the time comes to look at offers. Remember we have more information and a range of videos on our website to help you make the very best choices. barfoot.co.nz barfoot.co.nz/sell/selling-guide Now it gets exciting! The marketing has hit its targets and now buyers want to proceed with an offer... Auction As we all know: where there are offers, often negotiation is involved! How an offer is made, along with the particular terms and conditions on which a sale depends, will be determined to some extent by the method of sale you have chosen. In every case, your Barfoot & Thompson salesperson will be there at every step to guide and assist you - and liaise between you and the buyer. When selling by auction you will have set for a deposit are made (usually by cheque terms and conditions of the sale together with or by bank transfer the same day), and the our auction department and your solicitor. remainder of the purchase price is due on settlement day. Should the property not sell This is recorded in an agreement that will be at auction, then there is room for conditional sent to interested parties during the marketing buyers to enter the arena and an agreement campaign so they are fully informed before can be negotiated. auction day. During the weeks leading up to the auction, a buyer might ask for a variation on your terms and conditions. For example, a party may ask you to agree to a different possession date, should they be the highest bidder on the day. This is formally documented and signed off by both parties well before the auction; and the decision to agree, or not, is always yours.

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