Real Estate Ponsonby
November 2011
Those who buy and sell residential real estate in Ponsonby tend to be educated and informed. To that end, I’d like to supply a few facts gathered over the past 12 months of sales through our Ray White Ponsonby office.
As the leading office in the Greater Ponsonby region, we closely monitor many aspects of our business to ensure we understand market dynamics and are able to meet the needs of both buyers and sellers.
Firstly, it is useful for sellers of residential real estate in Ponsonby to know where buyers come from. This assists us to target the expenditure of our marketing budget effectively.
The greatest proportion of those who actually purchased already lived in the Greater Ponsonby region (56%).
Flier drops, local media, sign boards and active sales people are obviously all very important i.e. the neighbours need to be aware of a property’s availability.
8% come from the other side of the CBD from the suburbs of Parnell, Remuera and Newmarket and the same percentage previously lived in Mt Eden, Mt Albert and Epsom.
Of the reminders, 3% previously lived in the “Eastern Suburbs” (St Heliers, Kohimarama to Glendowie) and 14% from the remainder of Auckland.
This left only 7% who resided in NZ but outside of Greater Auckland and a mere 4% resided overseas at the time of purchase.
The next step in identifying useful data for vendors looking to sell residential real estate in Ponsonby is to identify where those who actually purchased over the past 12 months first identified their new home as being available for sale.
It would be easy to accept a view that the internet is the primary marketing driven in today’s world, dismissing traditional marketing methods.
What does our actual data show?
Of those who purchased property in Greater Ponsonby over the past 12 months 48% first identified the property in the NZ Herald, primarily the Saturday display section of ‘Herald Homes’.
The internet was next at 26%, with the property directly introduced by a real estate salesperson coming a close 3rd at 20%. This leaves a mere 10% for all other marketing methods (sign, office window, fliers, local media etc.)
Selling real estate hasn’t really changed a great deal over the past 30 or 40 years.
The third step in the decision when selling real estate in Ponsonby is deciding which method to choose to achieve the greatest probability of selling.
Again, our data is very clear.
Of all the properties our office took to auction in the past 12 months, approx. 90% sold.
This compares with approx. 70% marketed by the “Set Date” method (a form of tender) and 60% of properties marketed by negotiation (no price) or pricing, actually achieving a sale.
There is irrefutable evidence that properties taken to auction have a greater probability of generating a sale than any other method.
For the informed and educated, the facts about transacting residential real estate in property are irrefutable.