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24 April 2018

March 2018 Market Wrap

Volumes may be down, but March 2018 was a record month for Ray White Damerell Group in terms of total value of property sold.


Less is More

Quality not quantity is the clear message we’re getting from our buyers in the first three months of 2018. Top quality, well-presented properties are selling strongly – and they’re fetching record prices. For example, for the first time in Greater Ponsonby, we are now seeing homes in an area once known for its cheap, rundown housing selling for over $5m – a figure that, in the not too distant past, would have secured an exclusive waterfront home in Herne Bay.

One of the most interesting statistics to emerge this past month is the fact that 35% of homes sold in March were above $2m in value. Furthermore, 15% of the total volume sold went for above $3m, which is a staggering statistic.

In real terms this means that the starting price you can now expect to pay for a well-designed and well-renovated Ponsonby villa is considerably north of $2m, with exceptional examples easily heading into the $3m price bracket. And, looking at our stats, there seems to be no shortage of buyers for these top-end homes.

As the quality of the properties in our catchment increases, so we have had to lift our game in terms of the way we market and publicise their sale. We strongly believe that the investment we continue to make in securing and training the best sales team in the city, along with the efforts of our forward-thinking marketing department, has made us the obvious choice for anyone considering selling their home in Greater Ponsonby.

Select your area

  • Greater Ponsonby: Herne Bay, Ponsonby, Freemans Bay, Westmere, Grey Lynn, St Marys Bay
  • Lower North Shore: Northcote Point, Northcote, Birkdale, Birkenhead, Hillcrest, Beach Haven, Chatswood
  • Eden Quarter: Mount Eden, Kingsland, Eden Terrace, Sandringham, Epsom
  • Western Fringe: Mount Albert, Mount Roskill, Point Chevalier, Three Kings, Western Springs
  • Greater Avondale: Waterview, Avondale, Kelston
  • Greater Titirangi: Laingholm, Titirangi

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