Mt Albert property values are holding up well, but the slump in listings and sales across the city has hit here too.
Belinda Henson, Bayleys Mt Albert sales manager, says a shortage of new listings in the western corridor has seen “a palpable shift in activity over the last four weeks”, with a number of properties remaining on the market longer than usual.
But “now that the slate is relatively clean we are looking forward to a flow of new listing campaigns which will replenish supply and fuel an activity into the holiday period”.
Anne Duncan, principal of Anne Duncan Real Estate puts it this way: “If you ain’t got it, you can’t sell it.”
The number of houses on the market has fallen substantially since the high-flying days of a year or two ago, and a wet winter and the uncertainty in the lead-up to the election hasn’t helped, she says.
Anne says the market is “property specific”, with good properties selling well – some with seven, eight or nine bidders at auction, giving her company an 88 per cent auction clearance rate this year.
She points to the sale of 109 Fowlds Ave where a pre-auction offer of $1.4m was rejected on a home with a 2014 capital value of $1.06m. Multiple bids at auction pushed the selling price to $1.86m.
A cross-section of local auction results over the last month or so:
28 Harlston Road (pictured), sold for $1.5m (CV: $850,000), Bayleys; 36/8 Soljak Place, sold for $575,000 (CV: $355,000), Bayleys;
33 Ennismore Rd, sold for $1.23m (CV: $770,000), Anne Duncan; 109 Fowlds Ave, sold for $1.86m (CV: $1.06m), Anne Duncan.
70 Woodward Road, sold for $1,348m (CV: $1,020,000), Barfoot and Thompson; 7 Seaview Terrace, sold for $1,700,000 (CV: $1,125,000), Barfoot and Thompson; 34A Harbutt Avenue, sold for $850,000 (CV: $535,000), Barfoot and Thompson.
4/8 Lorraine Avenue, sold for $524,000 (CV: $435,000), Barfoot and Thompson; 11 Burch Street, sold for $1.342m (CV: $890,000), Barfoot and Thompson; 13 Highland Road, sold for $1.59m (CV: $1.05m), Barfoot and Thompson; 3/101 Richardson Road, sold for $630,000 (CV: $400,000), Barfoot and Thompson.