15 September 2016

August Market Wrap

With the changes to the Loan to value ratios on residential housing it is unsurprising that sales volumes in Greater Ponsonby are at a low ebb. This means buyer demand is particularly strong causing lower days on market, and a strong median sales price.


share

4% last month
45 sales
24% same time as
last year

Total Sales Example Text

August was the month in which the world came together for the Olympic Games. Of the many things that I love about the Olympics I love watching people come together at one point in time competing for ultimate glory. A bit like our Auction Rooms on a Wednesday night.

Every week we watch buyers and sellers come together hoping for a result that allows them to move on to the next stage of their lives. Buyers - fortified by the hopes and dreams of what the possibilities could hold if they secure their next home. Sellers - focused on this one moment in time. Next steps on hold until they hear the Auctioneers gavel fall to the lectern, the ink to dry on the contracts, settlement to take place and the exchange of keys to occur.

And no matter what the market does day to day, month to month, year to year - some things never change. Buyers and sellers making decisions that change the course of their lives. Being a part of that process is a privilege and one our team do not take lightly.

As we move towards the back end of 2016, there is still plenty of time to make a move and set your course for years to come. Should you need any advice from either our Sales, Property Management or LoanMarket team members please feel free to give them a call.

Monthly Sales

Median sale price in August 2016

$1,431,000

3% last month
2% same time as
last year

Median Price

Monthly Trend

Price Bracket Breakdown

Average days to sell

September 2015 to August 2016

With a lack of stock on the market and high buyer demand. Property that is well promoted and presented are achieving premium prices in what is still a historically short time frame.

23 AUCTION
26 SET DATE OF SALE
41 SALE BY NEGOTIATION

Monthly Trend

Auction sales
Set date of sale
Sale by negotiation

Our auction success rate

September 2015 to August 2016

One of the crucial questions you need to ask your salesperson when considering selling is how many registered bidders are you attracting to your auctions. Not only is it a number that represents the health of the market, but also the skill of your salesperson and agency.

Over the last 5 years we have tracked our registered bidder numbers slavishly. And since we doubled down on our commitment to in-room local auctions with Australasia’s best trainer and Auctioneer Jason Andrew we have seen an increase in the number of registered bidders at our auctions.

Sometimes a result is not achievable on auction night - one thing we will never do is pressure you to sell under the hammer and in fact if we believe there to be a better result available post auction we will inform you.

Passed in 3%
Sold 90%
Sold prior 7%
3 Average number of
registered bidders

Our listings by sale method

August 2016

As you can see the auction methodology is by far the most preferred method of sale by our clients.

68% AUCTION
5% SET DATE OF SALE
26% SALE BY NEGOTIATION

Monthly Trend

Auction listings
Set date of sale
Sale by negotiation

Suburb Overview

August 2016

This segment has an overview of sales volumes and median sale prices for the month of August in our keys markets. 

For more in-depth information, please feel free to call one of our team members.