21 February 2017

January Market Wrap

After a record-breaking December, January statistics are down across the board, but the all-important median price is well up on this time last year.


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38% last month
20 sales
33% same time as
last year

With just 19 properties falling under the hammer in January, sales numbers were down 42% month on month and 37% year on year. This we attribute to a record December, when a significant number of vendors decided to act before the holiday break. Early indicators are that January was an anomaly, and we’ll be back on track next month.

Monthly Sales

Median sale price in January 2017

$1,030,000

35% last month
13% same time as
last year

Month on month the median sale price dropped 35% from December to January, but the good news is that it is up 13% on this time last year. Further analysis reveals that there is strength and consistency in the $1-1.5m price range, with a significant drop off at either end of the scale from those December highs.

Monthly Trend

Price Bracket Breakdown

Average days to sell

February 2016 to January 2017

The consistency Ray White Ponsonby achieves in the average days it takes to sell its properties proves that, even in January when the statistics are seasonally skewed, vendors can have a degree of certainty about when their property will sell, with auctions easily leading the way as the fastest method of sale.

22 AUCTION
31 SET DATE OF SALE
43 SALE BY NEGOTIATION

Monthly Trend

Auction sales
Set date of sale
Sale by negotiation

Our auction success rate

February 2016 to January 2017

Although there has been virtually no change in these statistics this month, they continue to overwhelmingly favour auctions as the quickest and most popular way to sell a property. And with the introduction of our new award-winning auctioneer, Gavin Croft, that trend is set to continue well into the 2017.

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

Our listings by sale method

January 2017

Although there were a few bumps in the road pre- and post-Christmas statistics, things look to have settled back down into a pattern that clearly have auctions out in front as the preferred method of sale for our vendors – and for good reason, looking at our auction success rates and the number of days taken to sell a property.

61% AUCTION
4% SET DATE OF SALE
35% SALE BY NEGOTIATION

Monthly Trend

Auction listings
Set date of sale
Sale by negotiation

Suburb Overview

January 2017

This map gives you an overview of total sales and median price across the Greater Ponsonby area. Hover over the yellow dots for the statistics on each suburb. To view other suburbs we monitor (such as Titirangi), zoom out or drag the map.

The Rental Market
Demand is currently extremely high for all types of rental properties, and it’s certainly a good time to be a landlord with Ray White Ponsonby, with our letting managers working tirelessly to achieve the best possible rates for our landlords. There is also a huge demand for short stay tenancies. In response, we have taken on a short term leasing manager to deal specifically with those needs.