Market Review

Mt Albert January-September 2011

Vincent Barnao
021 275 8925 846 9470
vincent.barnao@anneduncan.co.nz

Vincent Barnao
RESIDENTIAL SALESPERSON
Vincent has been part of the Anne Duncan Real Estate team since its opening in August 2004, and has applied his dedication, commitment and boundless energy to help ensure the success of the new company and the continuation of his impressive performance history. Formerly working with one of New Zealands large franchise Real Estate companies, Vincent was consistently one of their top performers achieving Elite status and was in the top 5 percent of the nationwide sales team. However his experience reaches beyond sales and marketing, having taken the position of Sales Manager managing a successful sales office in nearby Pt Chevalier. He is now back revelling in the sales aspect of the job. Highly motivated and competitive by nature. Competitive indeed ............. Vincent still swims competitively and continues to win awards in New Zealand and internationally. He sees real estate selling as a match-making exercise bringing buyers and sellers together to match buyers to houses and houses to buyers. Vincent believes having good listening skills and playing the diplomat are key components of the role. He doesnt give up until both parties are totally satisfied with the results, every step of the way he makes a big effort to handle people with care. He is always cognisant that it is the vendor he is working for, and the objective never changes because consistently achieving excellent results ensures continued satisfaction and the important endorsement of repeat business. When it comes to dealing with tenanted property, Vincent is equally concerned to pay due respect to tenants, ensuring the sales process is as comfortable as possible. For a top performer and someone who can offer the best marketing advice, call Vincent today.

From the local coalface

Summer is coming and the weather is not the only thing that's heating up. We are currently experiencing the high levels of buyer activity. Enquiries, inspections and open home attendees are at record levels. There is a shortage of quality properties available. Demand is highest in the $600,000-$800,000 and $800K$1 million brackets. August and September were great months for auction properties, with clear ance rates of 100%. Two examples of this are listed below. If you haven't entered our red door promotion, there is still time. Contact me to go in the draw, we are giving away cash, ipads, TV's and more with a total prize pool of $15,000. 8A Toroa Terrace, Mt Albert Sold under the hammer for $1,085,000. Expected to sell around $1,000,000. 3 Registered Bidders, 50 inspections (groups).

4 Guardwell Terrace, Mt Albert Sold under the hammer for $718,500. Expected to sell in the high $600,000. 9 Registered Bidders, 123 inspections (groups).

The following pages represent on overview of what has happened in the local property market this year. Your Property is unique. It has individual features and benefits that will influence the value of it in ways that overall statistics and median prices can't accurately predict. In the same way, general news reports of what is happening overall in the Auckland property market are not necessarily relevant to your property and the local area.

Understanding exactly what's happening in your suburb can help you under-stand the value of your property. The first thing to consider is the size of the market; how many properties were sold in the past year? From this we can gauge if there is a lot of competition for buyers or if there is very little both situations have their strengths and weaknesses and will influence the value. The graphs below show the sales turnover over the last two years, firstly in dollar value and then in number of sales.

Turnover
$25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $Jan Feb Mar Apr May Jun Jul Aug Sep 2010 2011

Number of sales
50 40 30 2010 2011

20
10 0 Jan Feb Mar Apr May Jun Jul Aug Sep

The Median Price is used to measure the approximate changes in property values over time within an area. Unlike the Average Price, the median is less subjective to properties that have been sold in an area for either a lot cheaper, or a lot dearer than most other properties in the area. The graphs below show the Median Sale Price and Average Sale Price.

Median Sale Price

$1,000,000 $800,000 $600,000 $400,000 $200,000 $Jan Feb Mar Apr May Jun Jul Aug Sep

2010 $431 $527 $525 $450 $509 $561 $402 $512 $611 2011 $678 $484 $623 $606 $542 $595 $765 $457 $526

Average Sale Price

$1,000,000 $800,000 $600,000 $400,000 $200,000 $Jan Feb Mar Apr May Jun Jul Aug Sep

2010 $472 $592 $550 $520 $528 $593 $497 $525 $579 2011 $614 $581 $587 $547 $560 $702 $769 $567 $559

There is no real formula for calculating the sale price based on the CV, as every property is unique. The graph below shows the comparison between the average sale price and average CV.

CV Comparison
60% 40% 20% 0% Jan -20% 2011 CV 2010 Feb Mar Apr May Jun Jul Aug Sep

Average Days on Market

90 80 70 60 50 40 30 20 10 0 Jan Feb Mar Apr May Jun Jul Aug
2 Sep

2010 2011

Days on Market is a term used to describe how long a property was on the market prior to it being sold. The graph above shows the average days on market over the year. In a hot market, properties will generally sell faster than In a normal market.

The following graphs show the trend and comparison between the average sale prices of neighbouring city fringe suburbs over the year.

Average Sale Price City Fringe Suburbs

1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 Mar May Aug Apr Jun Jan Feb

Avondale - Auckland Waterview New Windsor Point Chevalier

Jul

2011 2011 2011 2011 2011 2011 2011 2011 2011

900,000 800,000 700,000 Western Springs 600,000 500,000 400,000 300,000 Jan Feb Mar Apr May Jun Jul Aug Sep 201120112011201120112011201120112011

Sep

Kingsland
Sandringham Mt Eden

Anne Duncan Real Estate

2011 Auction Clearance Rates

Clearance Rates 2011 Auctions Exclusive General Total Listed 63 139 6 201 Sold 49 85 2 136 Withdrawn 7 41 4 52 Clearance Rate 88% 61% 33%

Average days on market 2009 Auctions 30 Exclusives 51.2 General 133.5

Sales
January 2/22A Willcott St 31 Mount Royal Ave 35 Mount Albert Rd 383 Richardson Rd 107 Mt Albert Rd 10B Maybeck Rd 40 Malvern Rd 1/45B Asquith Ave February 1038 New North Rd J/1 Richardson Rd 55 Mount Albert Rd 4/165A Carrington Rd 717 New North Rd 3F/12 Morning Star Pl 28 Laurel St 2/98 Owairaka Ave 31Richardson Rd 22 Rhodes Ave 125 Taylors Rd 112 Taumata Rd 1080B New North Rd 3/29 Owairaka Ave March 2/22 Newcastle Tce 10 Wairere Ave 71Martin Ave 2 Summit Dr 41 Seaview Tce 10/697 New North Rd 22 Springleigh Ave 9A Seaview Tce 11 Lyon Ave 8A Alexis Ave $ $ $ $ $ $ $ $ 300,000 745,000 453,500 481,500 775,000 737,500 764,000 480,000 25/22A Willcott St 8 Braemar Tce 4 Wesley Ave 4A/20 Morning Star Pl 874 New North Rd 182 Mt Albert Rd 10B Mark Rd 5 Willcott St 27 Margaret Ave 3/42 Asquith Ave 67 Woodward Rd 2D/27 Morning Star Pl 7A Fairleigh Ave 2/1214 New North Rd 12A Fifth Ave 10A Amandale Ave 10 Rossgrove Tce 18 Stewart Rd 74 Mt Albert Rd 8/8 Soljak Pl 824 New North Rd 841 New North Rd 2/15 Stewart Rd 22 Tasman Ave 5 Ennismore Rd 98 Taumata Rd 84 Mt Albert Rd 127 Owairaka Ave 104 Taumata Rd 15/21 Ruarangi Rd April 791 New North Rd 82 Taylors Rd 2/135 pah Rd 84 Mount Royal Ave 5 Kitenui Ave $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 329,100 700,000 797,000 285,750 657,000 695,000 465,000 737,000 755,000 471,500 559,000 300,000 628,000 271,500 419,000 611,250 635,500 580,000 680,000 286,000 468,000 485,000 530,500 578,000 685,000 821,000 875,000 605,000 878,000 286,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $

680,000 275,000 805,000 275,100 1,460,000 355,000 508,000 352,000 416,000 675,500 795,000 868,000 220,000 460,000

$ $ $ $ $ $ $ $ $ $

485,000 632,000 620,250 880,000 627,000 159,000 710,000 687,500 750,500 885,000

$ $ $ $ $

728,000 665,000 450,000 656,500 615,000

701C New North Rd D/1140 New North Rd 26 Rossgrove Tce 23 parkdale Rd 2 Kerr-Taylor Ave 3D/11 Morning Star Pl 5/8 Soljak Pl 185 Carrington Rd 786 New North Rd 1/13 Violet St 47B Woodward Rd 1/29 Willcott St 40A Chatham Ave 1/90 Mt Royal Ave 3 Lorraine Ave 75 Asquith Ave 1128B New North Rd 4/32 Mt Albert Rd May 717 New North Rd 174 Mt Albert Rd 29 Tyburnia Ave 3D/11 Morning Star Pl 1 Woodward Rd 21 St Lukes Rd 9/24 Norrie Ave 47 Mt Albert Rd 11 Selkirk Rd 8 Amandale Ave 71 Mt Albert Rd 4/128A Taylors Rd 7 Newcastle Tce 5/1098 New North Rd 23 Fairleigh Ave 7/43 Woodward Rd 6/6 Rossgrove Tce 12A Douglas Ave 29 Western Springs 37A Preston Ave

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

355,000 406,000 606,000 656,000 960,000 355,000 274,000 611,500 628,000 506,000 630,000 420,000 500,000 262,500 556,000 670,000 730,000 355,000

81 Asquith Ave 10A Seaview Tce 11 Burch St 11 Newcastle Tce 12 Counsel Tce 47 Allendale Rd 1128 New North Rd June 18 Vinter Tce 57 Kitenui Ave 15 Newcastle Tce 3/11 Preston Ave 8A Harbutt Ave 15 Parkdale Rd 65C Asquith Ave 1 Selkirk Rd 3 Baldwin Ave 15 Alexis Ave 7 Linwood Ave 191 Carrington Rd 22A Seaview Tce 2 Mount Royal Ave 6/7 Harlston Rd 37 Seaview Tce 7 Preston Ave 8 Francis Ryan Cl 30 Kitenui Ave 2/36 Owairaka Ave 4/66 Taylors Rd 1/15 Stewart Rd July GF/11 Morning Star Pl B2/27 Morning Star Pl 4 Alexis Ave 8/22A Willcott St 4/34 Kitenui Ave 6A Mark Rd 18 Stewart Rd

$ $ $ $ $ $ $

570,000 571,888 610,000 674,000 743,000 1,366,000 728,888

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

1,460,000 358,000 522,000 355,000 465,000 563,500 295,000 715,000 752,150 571,900 730,000 396,000 627,000 390,000 610,000 90,000 370,000 825,000 355,000 471,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

541,000 765,000 501,000 295,000 590,000 643,500 570,000 610,000 900,000 1,600,000 760,000 568,000 600,000 846,000 405,000 550,000 620,000 1,205,000 1,490,000 410,000 430,000 545,000

$ $ $ $ $ $ $

290,000 305,000 1,550,000 305,000 388,200 554,000 656,000

29 Tasman Ave 8 Challinor Cres 137 Western Springs Rd 1 Guardwell Tce 878 New North Rd 6 Sadgrove Tce 9 Lyon Ave 1036 New North Rd 109 Taumata Rd 46 Malvern Rd 60 Allendale Rd 50 Kitenui Ave 80 Kitenui Ave 174A Carrington Rd 42 Richardson Rd August GD/19 Morning Star Pl 3D/12 Morning Star Pl 1/4 Moreland Rd 1/98 Owairaka Ave 2/1240 New North Rd 1/132A Taylors Rd 53D Woodward Rd 5 Woodward Rd 41 Sainsbury Rd 1/13 Knight Ave 4 Guardwell Tce 5 Phyllis St 9 Weston Ave 33 Malvern Rd 186 Carrington Rd 31a Chatham Ave 53 Margaret Ave 63C Owairaka Ave 1A Fowler Ave 36/8 Soljak Pl 1113 New North Rd

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

695,000 724,000 737,500 760,000 770,000 785,000 788,000 795,000 802,000 825,000 1,100,000 1,240,000 1,440,000 635,000 785,000

a/4 2 Moreland Rd 14 Springfield Rd 1/14 Willcott St 1/7 Amandale Ave 1/1142New North Rd 10/14 Seaview Tce 4/35 Owairaka Ave 5/34 Kitenui Ave 4/68 Malvern Rd September 1J/27 Morning Star Pl 1D/27 Morning Star Pl 1/1152 New North Rd 2A Lorraine Ave 1170 New North Rd 16A Martin Ave 35 Preston Ave 21 St Lukes Rd 133 Mt Albert Rd 13 Range View Rd 158 Mt Albert Rd 33 Harbutt Ave 12A Fontenoy St 43 Linwood Ave 298 Mt Albert Rd 6 Caughey Pl 23A Burch St 72D Malvern Rd 68 Lloyd Ave 8A Toroa Tce 1/2A Moreland Rd 60A Kitenui Ave 3a/132 Taylors Rd 3/7 Amandale Ave 5/90 Mt Royal Ave 2/41 Owairaka Ave 2/814 New North Rd

$ $ $ $ $ $ $ $ $

425,000 980,000 203,500 265,000 285,000 290,000 320,000 390,000 545,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

310,000 315,000 310,000 370,000 412,000 425,000 490,000 620,000 651,000 665,500 718,500 770,000 773,000 846,500 930,000 1,000,000 1,000,000 1,511,000 541,000 278,000 390,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

305,000 320,000 415,000 510,000 511,000 520,000 521,000 526,000 530,000 542,000 555,000 568,000 648,000 677,500 715,000 750,000 810,000 856,800 970,000 1,085,000 397,500 518,000 580,000 272,500 285,000 362,100 366,000

Note: Properties highlighted in red were sold by Anne Duncan Real Estate

For More Information

Please contact

Vincent Barnao
021 275 8925 846 9470
vincent.barnao@anneduncan.co.nz

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Data has been supplied from REINZ, RPNZ, along with our own sources. Disclaimer: This document is intended to provide the recipient with preliminary background information about a specific market based on the data available to Anne Duncan Real Estate at the time of preparation. Anne Duncan Real Estate does not accept any liability for statements made in or any omission from this document.