North Shore Market Update | September 2019

As the Auckland weather warms up, the property market seems to have adapted to the uptrend for the month of September.  This applies to both the sales volume and the median house price.  For the North Shore, while the price continues to trend upwards, sales volume remains suppressed according to Harcourts Cooper & Co latest market update.  We continue to see good foot traffic through open homes and the Cooper & Co auction success rate achieved 71%!  Here are some quick facts on September!

  • Increased buyer confidenced boosted by low interest rates and abolished capital gains tax.  It’s a great timing for first home buyers to start owning a home of their own.  Investors are getting more comfortable with healthy homes standards and are stepping strongly into the game again.
  • Speculation on a 7% of housing price increase in the coming year as wildly reported on stuff.co.nz and other news sources creates an urgency for buyers to buy “now”!  It is a forecast by economists that may or may not eventuate.

Where there are motivated buyers, houses have better chances to get sold at higher prices.  Selling and buying in the same market is a smart move!  Whether you are pursuing a lifestyle change, facing circumstance changes, or making decisions for other reason, this ‘bounce back’ may not last for a long time.  Putting your property up on market now with a well-planned campaign can maximize your auction success rate and help you to start your next chapter in life!

Only 57 days away till Christmas!  The property market will only be hot for another 7 or 8 weeks until we embrace the festive season and enjoy the summer until school starts in February.  If you want to secure a sale before Christmas, it is best that you speak to your trusted agent as soon as possible.  You may also want to consider a longer settlement date so that you don’t need to worry about moving until January or February next year.  For those who are still unsure, request information on your property now and try to avoid selling during mid December and end of January while Auckland is usually very quiet.  We can anticipate an active market again in February when The school holidays are over.