Monthly Market Update | February 2020
Market Maintains Momentum
February figures just released showed continuing strength & confidence in the property market, with a record North Shore City median price of $1,155,000. When comparing against the same time the previous year; North Shore volumes were up 68%, the median price was up 17% and days on the market reduced by 24 to 39 days!
Whilst there is a strong awareness of the COVID-19, as yet we have seen little impact on the housing market, and demand remains high. Low, stable interest rates are assisting in driving demand.
In February Harcourts Cooper & Co conducted 117 auctions with an 80% success rate, further confirming the demand from qualified buyers continues.
Update for North Shore market based on REINZ statistics for February 2020, released 13th March 2020.