The latest figures from Realestate.co.nz (October 2018) have revealed that the Auckland Region now favours buyers for the first time since 2011, with the number of available listings having increased by 17 per cent on last year, and 20 per cent more brand new listings.
There are currently over 10,000 Auckland homes for sale, with 4,449 brand new fresh stock (as of the 1st of November).
Not only are listings up, but average asking prices in the Auckland region have also decreased 1.3 per cent compared to September 2018, dropping to $964,936 – great news for prospective Auckland home buyers.
“Given the level of new listings, the total amount of stock for sale and a slowing of sales rates, the Auckland market is favouring buyers to an extent we haven’t seen for nearly nine years,” says Realestate.co.nz spokesperson Vanessa Taylor.
“It means that buyers have a lot more choice and can take a considered approach to their buying process.”
So in almost a decade, Auckland home buyers finally have the upper hand, with plenty of choice available and a declining asking price to boot.
“When you look at the market – so I’m looking at one- to two-bedroom homes – in Auckland, the national average asking price for all homes is $960,000; if you take the one- to two-bedrooms, it actually drops down to just over $600,000,” said Vanessa in an interview with Newshub. “So albeit that $120,000 for a deposit is still a pretty scary amount, it’s not quite as bad as $200,000.”
If you’re planning on buying a home in Auckland, you’ll need professional assistance. Mickey Zhu & Team are experts when it comes to North Shore real estate and purchasing a home over the shore. They have dedicated Buyer’s Agents in the team who can assist you in narrowing down your search options and negotiating on your behalf.
And if you are thinking of selling your property in the current market, work with an agent or team that will maximise your property’s visibility and help you stand out from the crowd. Team MZ offers stylistic recommendations, exceptional marketing campaigns, and more so you get maximum, exposure, long-lasting impact and fantastic results.
Mickey is the top agent for Harcourts North Shore Central and in the top 1% of Harcourts agents worldwide! Contact Team MZ today at 021 880 106.