Te Atatu Real Estate Market Update March 17

Te Atatu Peninsula and Te Atatu South remain very popular places to live in West Auckland. The current market is interesting, some open homes have been quiet while others busy. The new LVR of 40 has taken some of the steam out of the local market and real estate in general (or at least it feels like it has). Houses are still selling with the average days on the market recently changing from 39 days in January to 22 days in February. The number of houses sold has also risen over the same period from 6 to 18.

I like looking at long term charts first as it paints a more accurate picture of where we have come from and therefore where we might be going. Keeping in mind that trends can change at any time, this first graph shows that the current trend is still very much in play. The news and how we “feel” can alter our perception in the short term but can be very misleading in my opinion.

This graph hones in on the last two years and show the median house price in Te Atatu Peninsula hitting an all time high of $1,030,000.

This is the Auckland number of houses sold and was showing a decline till February which has turned up. According to an article in the Herald last weekend, ‘prices follow volume of houses sold’, so I will be watching this trend.

Another thing I like to keep an eye on is the ‘average days on the market’. Higher numbers tell me that buyers are taking their time and don’t feel rushed to purchase. Lower numbers show strong demand and buyer competition.

I have created these graphs from data sourced from the REINZ website. They are accurate to the best of my knowledge, but “I am only human after all” – Great song by Rag’n’Bone Man.

Here is a favourite quote:

“Prediction is very difficult, especially if it’s about the future.”

– Nils Bohr, Nobel laureate in Physics

Leave a comment at the bottom if you would like. Call me if you have questions. How can I help you in real estate or anything else?

I know about google maps and would love to help anyone with a business get more visible. I know about building websites and happy to give advice.