In October we saw a boost to the North Shore real estate market with the highest sales volumes in 5 months and the highest median sales price in 4 months.  September sales were somewhat restricted due the shortage of available listings, however following an increase in September listings we have seen the flow through effect of higher sales with prices remaining stable.  Listing volumes continue to remain strong and we anticipate strong trading through to Christmas.

The North Shore median price in October was $1,000,000, up slightly on $990,500 in September but down from $1,056,000 in October 2017.  It seems prices may have found their happy median for the time being with prices fluctuating around $1,000,000 for the past 12 months.

There were 321 sales on the North Shore in Oct 18 up 10% on the same time last year.  Days on the market remained relatively low at 36 – the lowest since December 2017.

It should be noted that last year’s sales volumes were impacted by the election.  October also saw the introduction of the foreign buyer ban.  From 12^th December 2018 The Residential Tenancies Amendment Bill prohibits letting fees being charged to tenants. On the 1^st January Real Estate changes to the Anti-Money Laundering and Countering Financing of Terrorism Act take effect for Real Estate.

Primary indicators continue to point towards an active, sustainable & stable market.  A renewed confidence was demonstrated by buyers fuelled by an increase in available listings and the traditional spring lift providing great opportunities for buyers & sellers.