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Te Atatu Market Report

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Te Atatu Market Report TE ATATU MARKET REPORT August 2020 barfoot.co.nz/te-atatu Welcome to our SOLD – Te Atatu Market Report magazine for August 2020 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 Auckland Property Market Shakes Off Economic And Election Apprehensions Rather than being tempered by and 6.5 percent ahead of that for July medium-term economic concerns or last year. the approach of a General Election, the “The median price at $890,000 for the Auckland housing market has enjoyed month is down 2.2 percent on that for its strongest sales performance in a last month but is 11.2 percent ahead of July for five years. where it was in July last year. “In July, buyers put aside any “Sales numbers were strong across all apprehensions they may have about price categories. Sales of homes for future market values, and committed,” under $500,000 accounted for 9.9 said Peter Thompson, Managing percent of all sales, those for more than Director of Barfoot & Thompson. $2 million accounted for 4.7 percent, “While anecdotal market information and those for between $1 million and Peter Thompson suggested that July trading was going $2 million 34.6 percent. Director to be strong, the extent of activity will “A factor contributing to the high number have caught most forecasters of sales was the level of new listings, by surprise. which at 1518 were close to a third “Demand was so strong that you have higher than at the same time last year, to go back to the height of the last and the highest in a July for five years. property sales cycle to see turnover “At month end we had 3,873 listings and values of equivalent levels. on our books. Although this is down “Normally as we approach a General 3.2 percent on those for the previous Election the market goes a little quiet month they are in line with where as buyers take a ‘wait and see’ listings were at the same time last year approach, but even this event is not and gives buyers a reasonable choice. holding back activity. “The lifestyle and rural markets saw the “In July, the market built on the same increase in activity as occurred in unexpected lift following the lifting of the urban market, with these markets pre-Covid-19 restrictions, and we sold experiencing the highest volume of 1.095 properties. This is a level of sales sales and value of sales for the month normally only seen at the height of the of July since 2016. summer sales season and is only one “Activity was mainly driven by small property less than we sold in March, lifestyle blocks to the south and north of which was prior to the on-set Auckland with vendors and buyers being of Covid-19. in tune with where the market is at. “We have not sold this many properties “Farm sales interest in Northland for in a July since 2015. kiwi fruit, dairy and beef properties are “The average sales price at $979,189 more active this winter than in the past is the second-highest on record and is few years.” 2.7 percent up on that for last month Te Atatu sales data July 2020 Average sale price: $970,589 Highest sale price: Median sale price: $1,718,000 $925,000 Lowest sale price: Median CV: $571,500 $937,500 Total sales Sales $0-$750K: 15 July 2020: 62 Total sales Sales $750K - $1M: 25 July 2019: 49 Sales $1M-$1.5M: 17 Total monthly sales are down 26.5% compared to the same period last year. Sales $1.5M+: 5 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. 46.9% For the period from 1st August 2019 to 31st July 2020, we sold 46.9% of all properties in the area – that’s more than 2020 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 45.4% 45.4% 52.1% Market share $2-3M Market share $3+ Barfoot & Thompson Barfoot & Thompson 41.3% 35.7% * 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 May 2020 to 31st July 2020 compared to same period last year. 103 Avon dal e 74 30 Glendene 26 31 Kelston 22 142 Massey 150 70 Te Atatu Peninsula 63 78 Te Atatu South 69 0 20 40 60 80 100 120 140 160 Same Period Last Year Last 3 months Same period last year Last 3 months 35.5% of properties in Te Atatu sold for $1 million or more over the last 3 months Number of sales over $1 million: 22 of 62 (Te Atatu Peninsula & Te Atatu South, last 3 months) Average sale price 1st May 2020 to 31st July 2020 compared to same period last year. $1,338,207 Avon dal e $1,062,951 $795,980 Glendene $748,231 $829,396 Kelston $808,473 $782,246 Massey $817,260 $924,951 Te Atatu Peninsula $1,015,208 $799,434 Te Atatu South $874,132 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 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. 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. FROM SALE TO SETTLEMENT TOP TIPS Why working with Barfoot & Thompson can help sell your home. In our recent editions we have discussed the steps involved in selling your home, from getting ready to sell right through to the ins and outs of offers and negotiations. This article examines what happens after the sale, and on settlement day. Remember we have more information and a range of videos on our website to help you make the very best choices. barfoot.co.nz/sell/selling-guide Congratulations: your property has sold! Now what? After the bubbly has been popped and the celebrations are over, our clients often ask us: “Now what?” Not to worry, the route from sale to settlement is a relatively straight forward one, and your Barfoot & Thompson sales person will guide you every step of the way. Unconditional vs. Settlement Once the agreement you have signed “goes unconditional” it is legally binding, meaning both you and the purchaser now have to fulfil obligations specified in the contract in order for the property to change owership. Deposit Upon the sale of the property, the purchaser is required to pay a deposit. We will hold this deposit in the Barfoot & Thompson trust account for 10 working days.
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