North Shore popular with range of buyers, with first-home buyers largest share

People purchasing their first-home accounted for the largest share of buyers on the North Shore in September and October according to a recent survey by Harcourts local franchise Cooper & Co, which is one of the largest and most successful real estate companies in the area.

 

Cooper & Co Managing Director Martin Cooper says according to the latest buyer motivation survey done by the company, first-home buyers accounted for 31% of the last 150 sales through his group, which now has 11 offices across the North Shore.

 

“The next largest group was people who indicated they were transferring into the area, at 20% of the total, investors accounted for 15%, new immigrants 7%, ex-pats returning 2% and speculators 2%,” he said.

 

As Mr Cooper explains, the balance of buyers (24%) was made up of people within the North Shore either trading up (18%) or down (6%).

 

“The findings confirm anecdotal feedback that the North Shore is a popular choice with a wide range of buyers, including a significant number who are choosing to move into the area,” Mr Cooper says. 

 

“For example many first-home buyers are clearly keen to live on the North Shore and are finding opportunities to enter the property ladder in the area, a fifth were people choosing to transfer into the area, a good volume were investors who obviously see value in North Shore properties and 24% of the buyers where people happy to remain living in the area.”

 

Mr Cooper says the new buyer motivation survey results are very similar to those from the company’s last survey (of March/April buyers) but compared to the previous survey (of August/September 2009 buyers) there has been a notable lift in the percentage of first-home buyers, up from 20% then to 31% in the latest sample.

 

Harcourts New Zealand CEO Hayden Duncan says the North Shore lifestyle has broad appeal which helps drive demand for property in the area, with Cooper & Co is steadily increasing its share of the sales occurring.

 

“With 11 offices across the North Shore now they have a significant presence and the advantage of being able to harness the power of their own network and that of the wider Harcourts group in order to achieve marketing and sales success.”