Latest Market Statistics
Read Now

2023: The Year in Review

By Admin Whangarei

The Power of Process, People and Operating in the “Now”

2023 might certainly be a story of change and resilience in the local real estate market. With interest rates and inflation restricting market performance for much of the year we are slowly seeing an increase in consumer confidence – despite an upswing in borrowing costs. In ever evolving markets, the real power in real estate remains in being responsive to market conditions – with emphasis on process and people.

We’ve been fortunate to sell over 387 properties this year to-date and work with thousands of people in our marketplace. We embraced change, leveraged technological advancements, and maintained our client-centric approach. But we firmly believe that our commitment to service and prioritizing our clients’ needs and aspirations has been the cornerstone of our success, and the reviews, referrals and awards we received testament to this.

Across residential, rentals, rural, and commercial real estate our real successes for 2023 have come from operating in the “now”: understanding our clients’ situation and implementing a plan to secure them their best sale independent of factors outside of our control. Our highlights for the year have not only been in seeing purchasers secure their dream home, but in: selling homes that have stagnated on the market with other agencies and securing our clients unconditional sales in their homes in order for them to move on with the next chapter of their lives; to seeing a resurgence of first home buyers re-entering the marketplace in the last few months (first home buyers currently account for over 20% of our monthly sales); to seeing the joy (and sometimes relief) on people’s faces when their property goes unconditional.

Our office has taken over 365 properties to auction this year. The open and transparent nature of auctions continues to be highly valued by both buyers and sellers with tangible competition yielding positive effects. Auctions consistently outperformed alternative sales methods in our market, evidenced by the average time on the market, which stood at just 44 days for auctions as opposed to 62 days associated with private treaty sales. These compelling metrics underscore the critical importance of selecting the right sales approach in today’s marketplace, where achieving a swift, and unconditional sale, is as essential as the success rate itself.

While we can’t control the financial factors motivating Kiwis to buy and sell property, we can offer certainty in service, as evidenced by the increasing numbers of Kiwis choosing to buy and sell property with us.

We do know that right now presents some of the best buying and selling conditions we’ve seen in this market cycle. With a new government at the helm, appraisal requests have increased, new listing numbers are lifting, and our brand continues to outperform our competitors. Our dedicated real estate team are working harder to bring you the knowledge and latest information to support informed decision-making , and we remain on call throughout the holiday season for all of your property related requirements.

Sale(s) of the Year

We were recently asked by the media to provide one key sale for the year.  A seemingly simple question, but one that can be very difficult to answer. Here’s why: In the eyes of our team and our clients each and every sale and purchase is a ‘sale of the year’, or ‘significant sale’- So rather than just one property sale to summarise 2023, here are some our personal highlights from 2023

121 Taipuha Station Road, Waipu – Zoltan Waxman

Our agents took on the project site unseen to help the vendor who needed to sell due to poor health. What they found was a good size property, neglected land full of gorse; a 1930s built classic bungalow, needing repiling, rewiring, and plenty of imagination”; plus a really good relatively new shed. Advertised as a “free house” the urgency created on this “as is, where is, must sell’ auction listing was immense, and our agents certainly didn’t paint the picture rosier than it was. Inquiries started pouring in: 30 groups through the property, over 40,000 online views, and buyers from all over New Zealand and as far as Norfolk Island. 15 bidders registered on the day – ranging from first home buyers, renovators, and people who just wanted a peaceful country setting – which resulted in 48 bids and an under the hammer sale of $397,000 to a first-home buyer (who happened to be a builder by trade).

17 Pahau Avenue, Tikipunga – Thomas & Christine Reil

After the neighbouring property sold with Thomas & Christine pre-auction and within 3 days of marketing, the vendors of 17 Pahau Ave came to us as soon as their existing agency expired. They had been on the market for over 7 months, and received no offers, with very few open home attendees. Thomas and Christine followed their process from start to finish, with professional staging, photography, advanced online marketing and by using our open database – with the home selling under the hammer for $895,000 within 3.5 weeks.

370 Nook Road, Parua Bay – Daniel Foote

When the home and location is as stunning as this there was no doubt this property would create some online interest, but it exceeded all expectations! – Presented by our agent with professional high-end marketing the online reach of his property spiked early – becoming one of the most viewed online listings across New Zealand for November. With a barrage of interest, and more than 200 phone calls people flew in via helicopter to view and even from overseas to view the property and there were also multiple site-unseen purchasers interested. The auction of the property was brought forward, and sold under the hammer for $4,150,000 to Kiwi expats returning to New Zealand.

21 Paratai Crescent, Woodhill – Thomas & Christine Reil

Up for auction alongside 35 other properties at our big Auction Day event, this modest residential home appealed to a first home buyer who attended the first open home. ended up buying the home her grandfather had built.. Returning for a second viewing, the character and craftsmanship of the home were complemented by her father and grandmother who had accompanied her to the open home and commented that “this looks like one of your Grandfather’s builds”. The family then looked over the LIM to discover her grandfather’s name and signature all over it. Our first home buyer continued to prepare for auction which she attended with her father who bid on her behalf, wearing her late grandfather’s shirt. They were the winning bidders on the day securing the property for $610,000 under the hammer in what they described as “an emotional experience.”

Up to Date

Latest News

  • Landlord and Investor Event

    Change the way you see property management Join us for our inhouse landlord and investor event and find out more about being a landlord in New Zealand. Our team, and guests will share their knowledge of the current property market, and their industries, to help make your investment a real … Read more

    Read Full Post