Auckland saw its median price decrease annually by 21.7% to $940,000 in January 2023. This is the
first time since January 2021 that Auckland has had a median price under $1,000,000.
The flooding events which occurred at the end of January impacted auctions and open homes. At this point it’s hard to gauge whether people will want to enter the market or whether they will become more cautious in the coming weeks and months following the floods.
January saw the amount of sales decrease by 29.9% year-on-year, largely due to lending criteria, rising interest rates, weather events and the cost of living.
The current Days to Sell of 51 days is more than the 10-year average for January which is 41 days. There were 32 weeks of inventory in January 2023 which is 16 weeks more than the same time last year.
The OCR increased 50 basis points in the past week less than the 75 basis point expected though the reserve bank is signalling that the cash rate is expected to increase to 5,5% over the next few months.
If you are thinking of selling in the current market then talk to Victoria she has her finger on the pulse when it comes to what happening and she is the
KEY YO YOUR NEXT ADVENTURE.
First home buyer or looking to retire?
When it comes to 'as is, where is' properties they don't
come any better than this - a thoroughly charming home located close to popular schools and every amenity you could wish for.
The home features three good-sized bedrooms, a family bathroom complete with bath and separate shower, and a modern open plan kitchen lounge and dining with a heatpump to help to cool down those summer days and ward off the winter chill, while neutral décor ensures any style or era of furnishing will fit right in.
Outside, the courtyard is a highly-functional space designed for minimum upkeep and maximum relaxation. Single garaging and an abundance of off-street parking complete the appeal.
The property is close to everything this great location has to offer, with parks, a library, a supermarket and a doctor's surgery all just a short drive away. Quality local schools, a kindergarten, and a community centre complete the appeal.
Well-maintained, easy-care properties in this desirable
location are in constant demand, and immediate action is advised. Contact me now for more information.