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Market Overview

Mt A lb ert 2011

The Team with a Mission


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. Its how we built our business and its how well sell your property or manage your asset. The matched and coordinated skills, the motivation, passion and integrity makes for a powerful team thats on your side. We dont 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. Were here and were local!

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 cant 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 which Greg 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 until February; 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

Median Sale Price


$1,000,000 $800,000 $600,000 2010 $400,000 $200,000 $Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011

Days to Sell
50 40 30 20 10 0 2010 2011

Sale Price to CV Comparison


40.00% 30.00% 20.00% 10.00% 0.00% -10.00% -20.00% -30.00% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2011 2010

Number of Sales
50 40 30 20 10 0 2010 2011

Median Sale Price 2010 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $ $ $ $ $ $ $ $ $ $ $ $ 478,250 527,000 530,000 450,000 581,000 555,000 402,500 512,500 621,500 602,500 596,250 589,250 $ $ $ $ $ $ $ $ $ $ $ $ 2011 678,750 508,000 620,250 606,000 571,900 595,000 765,000 425,000 526,000 628,500 832,500 602,000

No. of Sales 2010 16 13 23 27 29 15 12 22 22 21 18 10 2011 10 13 41 23 23 24 22 29 27 13 21 7

Days to Sell 2010 35 43 29 40 30 38 26 34 35 36 29 33 2011 20 30 22 37 36 34 24 30 29 32 33 27

Total Sales Value 2010 $ $ $ $ $ $ $ $ $ $ $ $ 8,284,700 $ 7,936,500 $ 12,941,000 $ 13,911,500 $ 15,829,478 $ 8,642,500 $ 5,970,050 $ 11,816,000 $ 12,791,000 $ 11,751,800 $ 11,480,000 $ 5,475,500 $ 2011 6,145,500 7,869,600 23,785,350 12,595,500 14,550,326 16,366,500 16,929,700 16,489,000 15,116,400 7,766,500 17,335,500 4,006,588

2011 Clearance Rates


Anne Duncan Real Estate
Listed Auctions Exclusive General Total 93 187 14 294 Sold 75 119 4 198 Withdrawn 12 55 8 75 Clearance Rate Days to Sell 86% 69% 33% 24 51 133

Recent Sales
November 8 Weston Avenue 27A Stilwell Road 6 Chatham Avenue 82 Asquith Avenue 12 Ambrose Street 3 Fowler Avenue 4 Stilwell Road 32 Harbutt Avenue 17 Ennismore Road 3/8A Allendale Road 15B Burch Street 67E Asquith Avenue 12 Grande Avenue 6 Grant Street 113 Mt Albert Road 23 Stilwell Road 1/155 Mt Albert Road 1/5 Grant Street GA/27 Morning Star Place 32 Harbutt Avenue 11A Stilwell Road 82 Asquith Avenue 3 Amandale Avenue $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,000,000 1,140,000 1,025,000 600,000 689,000 900,000 1,500,000 645,000 616,000 655,000 660,000 760,000 878,000 925,000 1,025,000 1,641,000 343,000 373,500 290,000 645,000 832,500 600,000 837,500 December 61 Kitenui Avenue 2/32 Asquith Avenue 131A Owairaka Avenue 3A Moreland Road 2 Norgrove Avenue 13A Summit Drive 3 Parkdale Road 27 Stewart Road 1/2 Wesley Avenue 10A Lyon Avenue 9 Harlston Road 143A Mt Albert Road 1C Harbutt Avenue 1/867A New North Road 16 Hendon Avenue 61 Martin Avenue 102 Asquith Avenue $ 1,300,000 $ 357,000 $ 590,000 $ 771,000 $ 560,000 $ 2,000,000 $ 932,000 $ 475,000 $ 520,000 $ 644,588 $ 650,000 $ 717,000 $ 457,000 $ 385,000 $ 551,000 $ 602,000 $ 392,000

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

For More Information


Please contact

The Team
846 9470 sales@anneduncan.co.nz

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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