Cooper & Co's Ilse Evans Sees Local Real Estate Market Remaining Active

Despite all the recent distractions around COVID and, of course the very real drama playing out in Europe, the local real estate market remains active. Ilse is advising all her vendors in advance of their auctions to take time to watch the proceedings to understand the current market. 

Last week Cooper & Co had 30 auctions, 17 of these sold under the hammer, and 6 others sold with conditional contracts, so the buyers are active and finding the properties they want to purchase. This is the crucial message amongst so much gloom and doom; 57% sold is good! As Ilse says, “I cannot praise our Auctioneers highly enough for the work they do at your auction; working hard to negotiate with a cash unconditional buyer to offer you certainty in a cash sale. It is the reason Cooper & Co success rate is the best in the business.”   

Regarding housing stock, last month, the New Zealand housing marketing saw a 47.0% year-on-year increase in the total homes available for sale. 23,270 homes were available on realestate.co.nz at the end of February 2022; the last time we saw stock above 23,000 was June 2019. As of today on the North Shore, Cooper & Co. have 1566 properties for buyers to choose from. Property presentation and marketing is now more key than ever in attracting buyers and putting your home on a pedestal.  

Tony Alexander’s Recent Overview…… 

“A buyers’ market is in place in New Zealand's residential real estate market and when I release results of my monthly real estate agent survey, run this week, you'll see buyers now overwhelmingly hold the upper hand. FOMO is dead, FOOP arises. (Fear of Over Paying). 

“Listing numbers are improving - but the 47% rise in stock numbers from a year ago so far mainly reflects reduced sales rather than a rush of fresh sellers. That effect will happen soon however as stories of developments failing, early off-the-plan buyers not settling (South Auckland) and proof of falling prices become more widely accepted.  

“Business sentiment has all but collapsed as the Omicron wave washes over us. But it would be best not to panic and instead to recognise the temporary nature of much of the weakness which this survey is revealing.” 

So, with all this in mind, please take a moment to find out more about house auctions in Takapuna and house auctions in Belmont by visiting the website at https://www.ilseevans.co.nz .