market overview - mt albert - 2011
DESCRIPTION
Overview of the real estate market in Mt Albert, Auckland for 2011TRANSCRIPT
Market Overview Mt A lber t
2 0 1 1
THE MOST EFFECTIVE RESULTS IN BUSINESS, IN
SPORT, IN FAMILIES AND COMMUNITIES ARE
ACHIEVED BY TEAMWORK.
Anne Duncan Real Estate applies that
team ethic to the way we do business so
the combined team energy is focused on
achieving a common goal. Yours!
Our team works together to get outstanding
results for our clients. We believe in synergy and
having a common goal. It’s how we built our
business and it’s how we’ll sell your property or
manage your asset.
The matched and coordinated skills, the
motivation, passion and integrity makes for a
powerful team that’s on your side. We don’t take
our eyes off the ball until the right outcome is
achieved and the entire process is complete. We
have the experience, the expertise and the
passion. We’re here and we’re local!
The Team with a Mission
From the local coalface 2011 was a good year for property owners in Mt Albert.
We experienced strong demand for properties that tick the boxes; namely character,
nicely renovated, well presented, with 3-4 bedrooms in preferred school zones. We can’t
get enough of these homes!
Levels of buyer activity and enquiries have been in excess of the previous peak in 2007.
Multiple offers and short call auctions have left many disappointed buyers that have
missed out.
One example of this is 6 Chatham Avenue which
Greg Whitta sold recently. The property was
purchased two years ago for $570,000 and with a
stunning renovation sold under the hammer for
$1,025,000 – $315,000 over CV. There were over
200 inspections and 14 registered bidders.
There has been exceptional growth in the north east quarter of Mt Albert (between
Carrington Road and Asquith Avenue), with some properties increasing in value by 25%
over the last 2 years. It is good to see that the million dollar benchmark has been
achieved in this pocket, with sales of $1,000,000 for 31a Chatham Avenue and 53
Margaret Avenue; and $1,025,000 for 6 Chatham Avenue.
Whilst we are in times of uncertainty for global investors, with economies in US and
Europe in turmoil; Mt Albert is thriving and the local property market has not been
affected. It is also interesting to note that we did not experience the historical winter
slow down; and neither the Rugby World Cup nor the election has impacted the market
at all. Typically the market softens mid December and doesn't kick off again until
February; however we were working right up until Christmas and currently have 8 sales
on the board already. Perhaps the bad weather has turned buyers into 'real estate mode'
early? Another contributing factor could be the large pool of unsatisfied buyers from
2011. Anyway a great start to 2012 & a good sign of things to come.
Cheers
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000 Ja
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Median Sale Price
2010
2011
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Days to Sell
2010
2011
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Number of Sales
2010
2011
-30.00%
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sale Price to CV Comparison
2011
2010
Median Sale Price No. of Sales Days to Sell Total Sales Value
2010 2011 2010 2011 2010 2011 2010 2011
Jan $ 478,250 $ 678,750 16 10 35 20 $ 8,284,700 $ 6,145,500
Feb $ 527,000 $ 508,000 13 13 43 30 $ 7,936,500 $ 7,869,600
Mar $ 530,000 $ 620,250 23 41 29 22 $ 12,941,000 $ 23,785,350
Apr $ 450,000 $ 606,000 27 23 40 37 $ 13,911,500 $ 12,595,500
May $ 581,000 $ 571,900 29 23 30 36 $ 15,829,478 $ 14,550,326
Jun $ 555,000 $ 595,000 15 24 38 34 $ 8,642,500 $ 16,366,500
Jul $ 402,500 $ 765,000 12 22 26 24 $ 5,970,050 $ 16,929,700
Aug $ 512,500 $ 425,000 22 29 34 30 $ 11,816,000 $ 16,489,000
Sep $ 621,500 $ 526,000 22 27 35 29 $ 12,791,000 $ 15,116,400
Oct $ 602,500 $ 628,500 21 13 36 32 $ 11,751,800 $ 7,766,500
Nov $ 596,250 $ 832,500 18 21 29 33 $ 11,480,000 $ 17,335,500
Dec $ 589,250 $ 602,000 10 7 33 27 $ 5,475,500 $ 4,006,588
2011 Clearance Rates
Anne Duncan Real Estate
Listed Sold Withdrawn Clearance Rate Days to Sell
Auctions 93 75 12 86% 24
Exclusive 187 119 55 69% 51
General 14 4 8 33% 133
Total 294 198 75
November
8 Weston Avenue $ 1,000,000
27A Stilwell Road $ 1,140,000
6 Chatham Avenue $ 1,025,000
82 Asquith Avenue $ 600,000
12 Ambrose Street $ 689,000
3 Fowler Avenue $ 900,000
4 Stilwell Road $ 1,500,000
32 Harbutt Avenue $ 645,000
17 Ennismore Road $ 616,000
3/8A Allendale Road $ 655,000
15B Burch Street $ 660,000
67E Asquith Avenue $ 760,000
12 Grande Avenue $ 878,000
6 Grant Street $ 925,000
113 Mt Albert Road $ 1,025,000
23 Stilwell Road $ 1,641,000
1/155 Mt Albert Road $ 343,000
1/5 Grant Street $ 373,500
GA/27 Morning Star Place $ 290,000
32 Harbutt Avenue $ 645,000
11A Stilwell Road $ 832,500
82 Asquith Avenue $ 600,000
3 Amandale Avenue $ 837,500
December
61 Kitenui Avenue $ 1,300,000
2/32 Asquith Avenue $ 357,000
131A Owairaka Avenue $ 590,000
3A Moreland Road $ 771,000
2 Norgrove Avenue $ 560,000
13A Summit Drive $ 2,000,000
3 Parkdale Road $ 932,000
27 Stewart Road $ 475,000
1/2 Wesley Avenue $ 520,000
10A Lyon Avenue $ 644,588
9 Harlston Road $ 650,000
143A Mt Albert Road $ 717,000
1C Harbutt Avenue $ 457,000
1/867A New North Road $ 385,000
16 Hendon Avenue $ 551,000
61 Martin Avenue $ 602,000
102 Asquith Avenue $ 392,000
Recent Sales
Note: Properties highlighted in red were sold by Anne Duncan Real Estate
For More Information Please contact
The Team 846 9470
Data has been supplied from REINZ, RPNZ, along with our own sources. Disclaimer: This document is intended to provide the recipient with preliminary background information about a specific market based on the data available to Anne Duncan Real Estate at the time of preparation. Anne Duncan Real Estate does not accept any liability for statements made in or any omission from this document.