Pt Chevalier, Westmere and Grey Lynn house price summary

The Quotable Value quarterly property report was published with this mornings NZ Herald and it indicates that of the three main suburbs we deal with that Pt Chevalier showed a stronger gain than Westmere or Grey Lynn. We have also sold a few lately in Waterview and Avondale with these areas showing even stronger gains than the inner city suburbs!

Here are the numbers:

Pt Chevalier
$1,009,550 average value for the three month period ended 30th September. This is 23.7% above the $816,250 figure for the same period 2 years ago.

Grey Lynn
$996,000 average value for the three month period ended 30th September. This is 21.1% above the $822,800 figure for the same period 2 years ago.

Westmere
$1,318,800 average value for the three month period ended 30th September. This is 17.9% above the $1,118,900 figure for the same period 2 years ago.

Avondale
$598,550 average value for the three month period ended 30th September. This is 29.7% above the $461,400 figure for the same period 2 years ago.

Waterview
$703,750 average value for the three month period ended 30th September. This is 36.3% above the $516,500 figure for the same period 2 years ago.

 

December 08 2014 | Uncategorized | No Comments »

Best real estate agents in Pt Chevalier

Professionals Real Estate will finish 2014 easily #1 in the area north of the motorway and with just a couple of days left in November we have so far completed  $84,090,000 worth of sales which is approximately 4.5 times more value of sales than the second placed company!

This is almost double the value of sales that we have ever completed before in the area in a calendar year and we still have a month to go!

The chart below shows the performance of the various companies that operate in the area and the data is sourced from tracking all homes that are marketed in Pt Chevalier and any off market sales we are aware of.

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Our unique team approach has been a key factor in securing our best ever market share in the Pt Chevalier area, but we could always do with more sales and we need homes now for what we expect will be a very busy holiday selling season. Last year we sold a home on Christmas Eve and sales continued right through the festive period with no let up in buyer enquiry and we expect this year will be similar.

So email team@sellrealty.co.nz if you are thinking of selling now or early in the New Year.

Lawrence von Sturmer, Derek von Sturmer, Jo de Beer and Ross Brader

# 1 in the Pt Chevalier real estate market and # 1 sales team for Professionals NZ

 

 

 

 

November 28 2014 | Uncategorized | No Comments »

2014 CV versus sale prices in the last week of November

Here are a few sale prices compared with 2014 CV that have taken place in various Auckland suburbs this week. Prices ranged from $90,000 below CV to $480,000 above CV.

Sale price         2014 CV

$665,000      $550,000

$687,500      $590,000

$700,000      $660,000

$870,000      $960,000

$960,000      $920,000

$1,110,000   $840,000

$1,125,000   $1,060,000

$1,200,000   $1,020,000

$1,710,000   $1,230,000

$1,825,000   $1,370,000

$1,950,000   $1,520,000

 


 

November 28 2014 | Uncategorized | No Comments »

Pt Chev School jumps from Decile 8 to Decile 10

Pt Chev school has seen a two point jump in it’s Decile rating in the latest review.

Deciles are based on household incomes, occupations, educational qualifications, overcrowding and the proportion of people on benefits in a defined area where pupils live.

This will no doubt lead to even stronger house price pressure in Pt Chevalier as people tend to focus on buying into areas where schools with a high decile rating!

Here is some content from the NZ Herald story published this morning:

Two-point rise ‘reflects house prices
Auckland mother Sanchia Logie says a jump of two decile places for her daughter’s Pt Chevalier school likely reflects the change in socio-economic status of local residents.

Ms Logie and her husband Brent Bielby have lived in the suburb for about 11 years.

The couple’s 9-year-old daughter Lily Bielby is in Year 5 at the decile 10 Pt Chevalier School. Their son Callum Bielby, 12, a former pupil, goes to Ponsonby Intermediate, which is decile 9.

“It certainly reflects the change in house prices here,” Ms Logie, a child psychologist, said of Pt Chevalier School’s increased decile rating. People are obviously more well-off. More people now are knocking houses down and building right from scratch. I think when that sort of thing starts to happen, it’s showing there is more wealth in the area,” she said.

“I think even to buy into Pt Chev, it’s starting to be more and more limited to families that can afford that,” she said. Receiving less Government funding would be a blow for Pt Chevalier School, but most in the community would be well-placed to deal with it, she said.

“I think some lower decile areas might struggle more with something like that,” she said. “Although it is hard with parents having to contribute more, I do think it is representative of changes in the area.

“Obviously it’s going to be a big hit to the community and hit to the school in terms of what they can give the kids.” However, the school had a lot of support in the community, she said.

“Pt Chev is a really good school community, we got together and had an enormous school fair and made quite a lot of money … something like $70,000.”
-Teuila Fuatai

November 27 2014 | Uncategorized | No Comments »

Pt Chevalier Lotto Plus sells $9,000,000 Big Wednesday ticket

A ticket purchased at Pt Chevalier Lotto Plus in the mall on Great North Rd has sold the winning Big Wednesday ticket tonight with total cash and prizes of $9,000,000.

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If you see someone driving around the area in a new Aston Martin or an Audi Q7 towing a Rayglass boat send them to our office at 338 Pt Chevalier Rd as we may be able to hook them up with a house in the $2m to $5m range!

 

November 26 2014 | Uncategorized | No Comments »

Pt Chevalier top streets in relation to 2014 CV

Was interesting to read the item in this mornings NZ Herald regarding NZ’s top streets where Cremorne St in Herne Bay is in number one position.

We have been looking at the latest CV data for Pt Chevalier and of the streets that we have analysed so far it appears that the top 10 streets in regard to average 2014 CV are:

1)  Lynch St
2)  Bangor St
3)  Harbour View Rd
4)  Joan St
5)  Newell St
6)  Lister St
7)  Raymond St
8)  Maryland St
9)  Johnstone St
10) St Michaels Ave

The table below gives the average and median 2014 CV and the high and low figures for each street.

Street Average Median High Low
Lynch St 1900000 1785000 3700000 920000
Bangor St 1861739 1640000 3000000 890000
Harbour View Rd 1745862 1480000 4650000 785000
Joan St 1385588 1290000 2850000 800000
Newell St 1383809 1310000 3050000 900000
Lister St 1365384 1340000 2350000 590000
Raymond St 1332575 1170000 3250000 695000
Maryland St 1323414 1325000 2000000 480000
Johnstone St 1312592 1200000 3200000 690000
St Michaels Ave 1283370 1070000 3600000 440000
Seacombe Rd 1179696 1090000 3850000 680000
Wainui Ave 1177477 1130000 2550000 405000
Dignan St 1174588 1120000 3900000 615000
Te Ra Rd 1145434 1120000 1920000 720000
Walker Rd 1140961 1140000 1950000 450000
Wright Rd 1105493 1000000 3100000 390000

 

November 22 2014 | Uncategorized | No Comments »

Auction vs negotiation – which is best sale method?

We have just analysed all sales in Pt Chevalier so far this year up to the 20th November and compared results achieved in relation to 2011 CV figures.

Properties marketed as auctions achieved an average of 43% above 2011 CV whereas negotiation achieved an average of 51% above 2011 CV

Negotiation achieved a result 18.6% better than auction.

So quite a resounding win for the negotiation method and clear proof that if you want the best possible price the auction method is not the best way to achieve it!

November 20 2014 | Uncategorized | No Comments »

Auckland Council Valuations 2014

Every time that CV figures are released we have always have had a real issue with selling homes for which the CV is lower than what we would expect the home to sell for, so our advice is that if your CV is low and you are thinking of selling at any time in the next 12 months that you should object and get it increased.

Immediately upon release of the data this week we are noticing buyers taking a strong interest in the latest CV figures. The latest CV figures are very inconsistent and we will publish separately a post with some examples we have collated so far.

Another good reason to keep your CV high is if there were a major disaster in Auckland that caused serious damage any payout from EQC may reflect the CV value and the people of Christchurch with lower than market CV figures discovered this to their disadvantage. There is a also a cumulative effect to keeping your CV low, sure you will avoid higher rates but when you come to sell, the expected larger than normal sale price above CV is difficult to explain to buyers.

Wee have come across some very strange examples so far ie a home with a very low 2011 CV of $380,000 which has now been increased to $550,000 but the current owner actually paid approx $620,000 for it around July. It has since had a full renovation and would be worth at least $880,000 to $900,000 and as a result has a 2014 CV 60% lower than market value.

Our opinion is the CV system should be cancelled and leave the value of homes up to the market and find a better method of assessing rates. Someone paying $9,000 per year for rates on a $2.5m CV property in Grey Lynn has the same two wheelie bins that a person paying $2,400 per year in rates has on a $600,000 property in Avondale!

Alistair Helm has an interesting item related to the 2014 CV release at properazzi.co.nz

November 14 2014 | Uncategorized | No Comments »

Auckland 2014 CV online access

If you are having trouble accessing your 2014 CV on the Auckland Council website try using this QV link instead 

If you are thinking of selling your home in the near future and you think your CV is too low then it is best to object, as the CV figure will become a focus of  negotiations and may limit your prospects of achieving top dollar!

If you own a home in Pt Chevalier, Westmere or Grey Lynn and want a realistic assessment of market value call us on 098468996.

 

November 10 2014 | Uncategorized | No Comments »

The Block Pt Chevalier alternative

If you would like to purchase a new home in Pt Chevalier but want at least 500m2 of land and 325m2 of house take a look at our listing for 25 Buxton St at sellrealty.co.nz

This home will be constructed to the highest standard with quality fixtures and fittings and will comprise 4 bedrooms, ensuite, study, two living areas, double garage etc and will have a view of the city from the upstairs rooms. The landscaping includes a swimming pool and the property will be fully fenced.

25buxton

 

 

October 25 2014 | Uncategorized | No Comments »

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