Over the next several months I will create a clearer picture of trending data relating to specific markets, and what you may expect due to development and pricing.
Hobsonville Point, home of the Block 2018 and a poster child for new-age housing developments. Land sales in the area are $388,000 to $475,000 over the last month compared to $200,000 to $466,000 for the year ending August 2018. Median value in the area sits at $894,000 for the month compared to $628,000 for the year ending August 2018. The highest sales upper quartile remains Constant around $970,000. Sales volumes for the month were 21 units (average days on market 44) with annual sales at 306 units (average days on market 33) to year ending August 2018. Buyer groups are mostly younger mixed families with a cross section of children. Mature buyers (50 plus) make up less than 27% of the buyer grouping which holds consistent. This is a solid performing market for two to four bedroom homes with solid demand and stable pricing.
Huapai, home of Cadbra Developments and an area that is set for some significant infrastructure change over the next 24 months which should be welcome relief to residents and businesses alike. Land sales in the area are soft and good buying at $344,000 to $480,000 over the last 12 months to August 2018. Minimum sales value of home and land package is $955,000 with a median price from last month at $1,060,000 compared to $1,000,000 for the year ending August 2018. High end pricing for new building activity on 600 sqm site sits between $1,100,000 and $1,180,000 which is comparable with the year-end figures. Sales volumes for the month were 6 units (average days on market 37 days) with annual sales at 64 units (average days on market 35) to year ending August 2018. This is a market struggling through infrastructure but will come back strongly when this has been resolved.
Herald Island $1,800,000
Hobsonville $705,000 to $1,580,000.
Massey $62,000 to $$1,228,000.
Royal Heights $565,000.
Swanson $785,000 to $$1,240,000.
West Harbour $615,000 to $1,430,000.
Waitakere $909,000 to $920,000.
Whenuapai Residential $1,033,800 to $1,240,000.
If you are seeking an opinion, thinking about improvements or change, I would suggest a no-obligation chat with me that will provide some clarity on potential gains, market changes and values that are at play in your street and area. Likewise, before you go to market, have a chat with a few highly educated real estate professionals about the best process, marketing support and relationship that will deliver the best return on your asset. It may well save you thousands, make you thousands and deliver a much more enjoyable experience. Call me today on 0800 900 700, text 027 632 0421 or view www.grahammcintyre.co.nz – Mike Pero Real Estate Ltd Licensed REAA (2008).