Strategically Elevating Luxury Property & R.O.I

Market Outlook

Market Outlook


december 2018

Rodney residents were struck by dramatic thunderstorms earlier this month, with many taking to social media to post images of lightning making its mark on the skyline. The local property market hasn’t been quite as dramatic recently, but recent figures show that Rodney has continued its ascent in popularity.

October’s average sale price was $968,463 up from $910,351 in October 2017, a healthy rise in price. Three and four family homes account for around 70% of Barfoot & Thompson’s sales in the area, demonstrating the popularity with families for the coastal and rural life.

With several infrastructure and transport projects recently announced, the allure of the area will only increase. $48.9 million of the $91m of roading and wastewater infrastructure for Fulton Hogan's Milldale subdivision at Wainui, between Orewa and Silverdale, will be funded with long-term debt raised by CIP from the Accident Compensation Corp. This is the first project to gain funding from this new special purpose fund and will result in the construction of 4,000 dwellings.

And from February, a new bus service is being introduced between Wellsford and Warkworth, and a new route from Helensville to Silverdale (via Kaukapakapa).

Have a safe and happy Christmas. Thanks for all your support this year and we look forward to working with you in 2019.

november 2018

Everyone we’ve spoken to can’t believe its November already and I can imagine you’re feeling the same way. With the Christmas countdown in single digits, 2018 seems to have flown past.

If buying or selling property was on your list for this year and you haven’t yet achieved your goal, it’s definitely not too late.

If you’re in the market for a new home, the influx of spring listings were a little late this year, but the quality of new properties that have come up for sale over the last month have been exceptional.

If you’re selling your property, the late arrival of the spring market means there are still many buyers out there clamouring for their dream home. With no shortage of demand, talk to us today to decide when is the best time to list and what you can do to ensure your home is at its best to attract its next owner.

october 2018

It’s one of the longest periods of the year between public holidays, so Labour Day always comes as a relief to New Zealanders when it finally arrives. And now that daylight savings has taken effect, there’s a positive feeling in the air that summer is on the horizon. It’s also about now that the property market kicks into action for the latter part of the year.

Buyer demand is always present but as we head towards Christmas, purchasers seem even more determined to reach their property goals before the New Year. Interest rates remain compellingly low and in its latest economic forecast, the Reserve Bank pointed to mortgage lending rates remaining at current levels through to at least 2020, which translates into economic confidence.

Appraisals for both residential homes and lifestyle properties have increased in number over the last month, so we are expecting more listings in October. This is great news for buyers as housing choice remains tight in Auckland with demand exceeding supply.

As your residential and lifestyle experts, we’re here to help you achieve your real estate goals. If you’re thinking of selling before the end of the year, talk to us now so that we can ensure your property is looking at its best and has a compelling marketing campaign to reach the right target audience.

september 2018

September is here and as the days start to get warmer and longer, the appeal of Hibiscus Coast living and the amenities of Millwater really come to the fore – and not surprisingly, demand from purchasers begins to escalate.

For those of us who have enjoyed this lifestyle for years, it needs no introduction, but there are many who are newly drawn to our locale for its famed properties. From stunning scenery, to beautiful beaches, there is so much to do and see, which is why families in particular love living here with its myriad parks, walkways, cycle paths and quality schools.

Millwater is also compellingly convenient with links to the Northern motorway and just 10 minutes from Albany. It was designed around natural tranquil rivers and rolling hills and now boasts a growing business area and high decile schools.

Buyer demand for property has remained steady over the winter months and we know this gains momentum during spring, so if you’re looking to make a move – whether it’s residential, rural or lifestyle, talk to us. We’re your local property experts.

august 2018

The scent of spring is in the air and with it comes one of the busiest times in the property calendar. It’s during the next few months that the property market really kicks into swing.

After strong autumn sales, lifestyle sales fell during winter, predominantly due to a lack of supply. Yet there is no shortage of demand, with a variety of purchasers searching for a more leisurely lifestyle. From families who want to give their children a taste of outdoor living, to couples who have flexible working arrangements and work from home, to early retirees who are finally able to live their dream, demand for rural and lifestyle property is always constant.

In the residential market, July’s sales volumes were over 10 percent higher than at the same time last year. Homes over $1 million represented 32.2 percent of all sales, demonstrating the strong prices still being achieved and the insatiable demand from purchasers for Auckland property.

If you’re thinking of selling, come and chat to us – whether you have a residential, rural or lifestyle property. We have an active database of buyers and we have years of experience in this market, so we can advise on how to best present and market your property for sale.

june 2018

Last month was such a positive month in Auckland real estate that Managing Director, Peter Thompson, has talked about the market ‘leaping into life’ and ‘the easing of the hand brake holding back buyers’. This is an extremely positive sign given that we are now coming into the winter period, which is often perceived as a quieter time in property.

Last month sales in the top $2 million plus and $1 million plus price bands were strong, with the sales for these properties accounting for a third of all sales. High-end lifestyle properties continued to be in demand to the north of Auckland, with sales at auction, or by negotiation shortly after the auction, remaining the most effective sales method.

If you’re thinking of selling, a lifestyle or premium property, purchasers are out there serious about buying. And even though it’s winter, do remember that demand occurs all year round as people migrate to Auckland, change locations for a job, upsize due to new additions to the family or want to move to better school zones. Supply is often at its tightest during these mid-year months, so if you are thinking of making a move, take advantage of less competition for your home and talk to us!

may 2018

After a fairly uneventful year so far in Auckland’s property market, Barfoot & Thompson’s positive April results are a clear signal that activity is ready to emerge from its 12-month price and sales hibernation. Managing Director, Peter Thompson, says that we’ve now reached the point where ‘further price decline is the least likely future outcome’.  

It has been an eventful month locally too, with a range of initiatives announced that will benefit the Hibiscus Coast and local area. Land purchased in Millwater by the Auckland Council in January last year will be developed into a new 3.1 hectare park, providing a green open space and playground, as well as a basketball court, toilet facilities and a network of walking paths.

 As our region continues to grow in popularity, the Government’s announcement that the building of Penlink Road is still a priority in its ten-year plan is also welcome news. The highly-anticipated project will link the Whangaparaoa Peninsula with the northern motorway at Redvale, providing a faster route into Auckland City and freeing up congestion around the Silverdale area.

april 2018

It's something that we locals have known for a while, but now the secret is out. Barfoot & Thompson's recent list of suburbs with the greatest rise in median sale prices awarded Orewa third place across the Auckland region.

This perennial favourite locale achieved a 10.9% growth in value during July to December 2017 compared to the same period in 2016. To put that into real dollar figures that equated to an increase from $902,000 to $1 million, giving Orewa entry into the elite million dollar suburb list.

Across the Barfoot & Thompson network, March was a strong month both in sales numbers and prices held steady. Sales of rural and lifestyle properties lifted significantly in March, with 62 sales for a total sales value of more than $80 million, showing the strong demand for this kind of property. Now that we’re settled into 2018, we’re looking forward to a positive autumn and winter in the property market.