21 August 2020

July 2020 Market Wrap

Building on the strong numbers that defined Damerell Group’s sales statistics in May and June, the pendulum continued to swing in favour of our vendors in July, with a steady momentum that gave rise to an increase in sales.


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The Surge Continues

Greater Ponsonby
Building on the strong numbers that defined Damerell Group’s sales statistics in May and June, the pendulum continued to swing in favour of our vendors in July, with a steady momentum that gave rise to an increase in sales, both month-on-month (17 percent) and year-on-year (85 percent), and an 8% increase in the median sale price compared to July 2019.

The buyer pool has grown quickly across the suburbs and continues to do so with strong local interest bolstered by a growing number of enquiries from overseas. Buyer competition is strong across all price ranges – but is particularly intense in the $2.5m to $3.5m range. Properties in this price bracket have attracted large numbers of buyers, and have been flying out the door. The appetite in this price range is very strong and we continue to look for homes to satisfy the demand. Open home numbers are well up on this time last year, with keen buyers making pre-auction offers in the hope of securing their next home.

Auctions, too, have been well attended, with registered bidders and onlookers feeling their way into the market. July and early August saw some fantastic clearance rates –83 percent of properties sold under the hammer on the night, meaning there have been some very disappointed bidders missing out.

With the buoyant Spring market now just around the corner, we are thankful – as I am sure our vendors and buyers are, too ¬– that we are only at Covid Level 3 and not Level 4, so viewings can still be conducted (albeit restricted), building reports can still be carried out, and valuations calculated, which means we can continue to carry out our core business of marketing and selling property.

Our full team at Damerell Group is working as normal and are available and ready to speak with you, prepare appraisals, and list and sell your property. If you are thinking of selling, please give us a call today.

Western Fringe
As we move out west from Greater Ponsonby, July saw a massive increase in sales volumes year on year – from 46 properties sold in July 2019, to 81 sold in July 2020. This huge jump in sales volume was matched by a 20 percent annual increase in the median sale price.

Such is the competition in these western suburbs, that many properties are receiving multiple offers, with buyers working hard to make sales as clean as possible for vendors. Interestingly, smaller units are proving very popular, attracting large open-home turnouts and early, pre-auction offers.

North Shore
Following this upward trend in sales, Damerell’s North Shore office enjoyed a bumper July, with the number of properties sold up by 10 percent on June, and up by 20 percent year on year. Median prices, too, enjoyed a double-digit increase, rising 12 percent since July 2019. Open homes throughout the past month have been well attended, with up to 50 groups coming through a number of properties, and some selling pre-auction, or receiving pre-auction offers.

Across the Gulf on the islands, July joined the rest of Auckland in enjoying a bumper month of sales – exactly double the numbers seen in June and 90 percent up on July last year. Median prices were up, too, by a healthy 6 percent year on year.

Select your area

  • Greater Ponsonby: Herne Bay, Ponsonby, Freemans Bay, Westmere, Grey Lynn, St Marys Bay
  • North Shore: Beach Haven, Birkdale, Birkenhead, Chatswood, Forrest Hill, Glenfield, Hillcrest, Milford, Northcross, Northcote, Northcote Point, Sunnynook, Takapuna, Totara Vale, Unsworth Heights
  • Eden Quarter: Mount Eden, Kingsland, Eden Terrace, Sandringham
  • Western Fringe: Mount Albert, Mount Roskill, Point Chevalier, Three Kings, Western Springs
  • Greater Avondale: Waterview, Avondale, Kelston
  • Greater Titirangi: Laingholm, Titirangi
  • Auckland City Apartments: Eden Terrace, Freemans Bay, Grafton, Grey Lynn, Herne Bay, Kingsland, Ponsonby, St Marys Bay, Westmere
  • The Islands: Waiheke Island, Great Barrier Island, Rakino Island, Omiha, Oneroa, Onetangi, Orapiu, Ostend, Palm Beach, Surfdale
  • Green Bay Central: Green Bay, New Lynn, Glen Eden
  • Blockhouse Bay East: Blockhouse Bay, New Windsor, Hillsborough, Lynfield
  • Henderson West: Sunnyvale, Henderson, Massey, Ranui
  • Te Atatu West: Te Atatu South, Te Atatu Peninsula, Glendene
  • Greater Remuera: Remuera, Stonefields, St Johns
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