Month Market Update | November 2018 - Cooper & Co

Confidence & comfort in market heading towards Christmas

November 2018

In the final run to Christmas, the North Shore market continues to show consistent, fair trading and is well poised heading into 2019.

North Shore’s median sales price continues to hover around the $1M level.  November 18 had the highest median price in 8 months of $1,041,000 although still down 2.2% on November 2017 median of $1,064,500.

There were 313 sales on the North Shore in Nov 18 compared to 309 in the same period last year.  Whilst these sales volumes have been relatively consistent over the past 2 years, they are historically low.  Putting into context the average volume of sales on the North Shore in a November across the past 12 years was 451.  Days on the market remain relatively low at 37.

Nationally, strong growth in the regions resulted in another record median house price of $575,000 in November, up from $540,000 at the same time last year.

On the 1st January 2019, changes to the Anti-Money Laundering and Countering Financing of Terrorism Act take effect for Real Estate which will require customer due diligence at the time of listing, with extra requirements for properties owned by Trusts or Companies.

Market conditions providing fair trading, comfort & opportunities for both buyers & sellers.

Best wishes for a very Merry Christmas & a prosperous 2019