Market Overview 2011 Mt Albert

8/3/2019 Market Overview 2011 Mt Albert

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Market Overview

Mt A lber t

2 0 1 1



THE MOST EFFECTIVE RESULTS IN BUSINESS, IN

SPORT, IN FAMILIES AND COMMUNITIES ARE

ACHIEVED BY TEAMWORK.

Anne Duncan Real Estate applies that

team ethic to the way we do business so

the combined team energy is focused on

achieving a common goal. Yours!

Our team works together to get outstanding

results for our clients. We believe in synergy and

having a common goal. It’s how we built our

business and it’s how we’ll sell your property or

manage your asset.

The matched and coordinated skills, the

motivation, passion and integrity makes for a

powerful team that’s on your side. We don’t take

our eyes off the ball until the right outcome is

achieved and the entire process is complete. We

have the experience, the expertise and the

passion. We’re here and we’re local!

The Team with a Mission



From the local coalface

2011 was a good year for property owners in Mt Albert.

We experienced strong demand for properties that tick the boxes; namely character,

nicely renovated, well presented, with 3-4 bedrooms in preferred school zones. We can’t

get enough of these homes!

Levels of buyer activity and enquiries have been in excess of the previous peak in 2007.

Multiple offers and short call auctions have left many disappointed buyers that have

missed out.

One example of this is 6 Chatham Avenue whichGreg Whitta sold recently. The property was

purchased two years ago for $570,000 and with a

stunning renovation sold under the hammer for

$1,025,000 – $315,000 over CV. There were over

200 inspections and 14 registered bidders.

There has been exceptional growth in the north east quarter of Mt Albert (between

Carrington Road and Asquith Avenue), with some properties increasing in value by 25%over the last 2 years. It is good to see that the million dollar benchmark has been

achieved in this pocket, with sales of $1,000,000 for 31a Chatham Avenue and 53

Margaret Avenue; and $1,025,000 for 6 Chatham Avenue.

Whilst we are in times of uncertainty for global investors, with economies in US and

Europe in turmoil; Mt Albert is thriving and the local property market has not been

affected. It is also interesting to note that we did not experience the historical winter

slow down; and neither the Rugby World Cup nor the election has impacted the market

at all. Typically the market softens mid December and doesn't kick off again untilFebruary; however we were working right up until Christmas and currently have 8 sales

on the board already. Perhaps the bad weather has turned buyers into 'real estate mode'

early? Another contributing factor could be the large pool of unsatisfied buyers from

2011. Anyway a great start to 2012 & a good sign of things to come.

Cheers



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

J a n

F e b

M a r

A p r

M a y

J u n

J u l

A u g

S e p

O c t

N o v

D e c

Median Sale Price

2010

2011

0

10

20

30

40

50

Days to Sell

2010

2011



0

10

20

30

40

50

Number of Sales

2010

2011

-30.00%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sale Price to CV Comparison

2011

2010



Median Sale Price No. of Sales Days to Sell Total Sales Value 2010 2011 2010 2011 2010 2011 2010 2011

Jan $ 478,250 $ 678,750 16 10 35 20 $ 8,284,700 $ 6,145,500

Feb $ 527,000 $ 508,000 13 13 43 30 $ 7,936,500 $ 7,869,600

Mar $ 530,000 $ 620,250 23 41 29 22 $ 12,941,000 $ 23,785,350

Apr $ 450,000 $ 606,000 27 23 40 37 $ 13,911,500 $ 12,595,500

May $ 581,000 $ 571,900 29 23 30 36 $ 15,829,478 $ 14,550,326

Jun $ 555,000 $ 595,000 15 24 38 34 $ 8,642,500 $ 16,366,500

Jul $ 402,500 $ 765,000 12 22 26 24 $ 5,970,050 $ 16,929,700

Aug $ 512,500 $ 425,000 22 29 34 30 $ 11,816,000 $ 16,489,000

Sep $ 621,500 $ 526,000 22 27 35 29 $ 12,791,000 $ 15,116,400

Oct $ 602,500 $ 628,500 21 13 36 32 $ 11,751,800 $ 7,766,500

Nov $ 596,250 $ 832,500 18 21 29 33 $ 11,480,000 $ 17,335,500

Dec $ 589,250 $ 602,000 10 7 33 27 $ 5,475,500 $ 4,006,588

2011 Clearance RatesAnne Duncan Real Estate

Listed Sold Withdrawn Clearance Rate Days to Sell

Auctions 93 75 12 86% 24

Exclusive 187 119 55 69% 51

General 14 4 8 33% 133

Total 294 198 75



November

8 Weston Avenue $ 1,000,00027A Stilwell Road $ 1,140,000

6 Chatham Avenue $ 1,025,000

82 Asquith Avenue $ 600,000

12 Ambrose Street $ 689,000

3 Fowler Avenue $ 900,000

4 Stilwell Road $ 1,500,000

32 Harbutt Avenue $ 645,00017 Ennismore Road $ 616,000

3/8A Allendale Road $ 655,000

15B Burch Street $ 660,000

67E Asquith Avenue $ 760,000

12 Grande Avenue $ 878,000

6 Grant Street $ 925,000

113 Mt Albert Road $ 1,025,00023 Stilwell Road $ 1,641,000

1/155 Mt Albert Road $ 343,000

1/5 Grant Street $ 373,500

GA/27 Morning Star Place $ 290,000

32 Harbutt Avenue $ 645,000

11A Stilwell Road $ 832,500

82 Asquith Avenue $ 600,0003 Amandale Avenue $ 837,500

December

61 Kitenui Avenue $ 1,300,0002/32 Asquith Avenue $ 357,000

131A Owairaka Avenue $ 590,000

3A Moreland Road $ 771,000

2 Norgrove Avenue $ 560,000

13A Summit Drive $ 2,000,000

3 Parkdale Road $ 932,000

27 Stewart Road $ 475,0001/2 Wesley Avenue $ 520,000

10A Lyon Avenue $ 644,588

9 Harlston Road $ 650,000

143A Mt Albert Road $ 717,000

1C Harbutt Avenue $ 457,000

1/867A New North Road $ 385,000

16 Hendon Avenue $ 551,00061 Martin Avenue $ 602,000

102 Asquith Avenue $ 392,000

Recent Sales

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



For More InformationPlease contact

The Team

846 9470

[email protected]

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.

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Market Overview 2011 Mt Albert