A huge wave of luxury homes in the $5 million-plus price range will sweep onto the market in the next few weeks now that the election is over and people are feeling more confident, agents said.
Those selling Auckland’s poshest homes said some of the listings have been in the pipeline for several months and that they only now have the green light to bring them to market now that National is in power.
Other homeowners are feeling more confident about the direction the market is heading and are arranging appraisals.
Ray White Epsom salesperson Ross Hawkins said it’s the busiest few days he’s had in months.
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“Suddenly everybody is on the phone – both vendors and potential purchasers. It was like they were all just waiting for a result until they took the next step.”
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Among the properties to have gone live within days of the election is a modern four-bedroom, two-bathroom architecturally designed Chris Tait home at 44 Mainston Road, in Remuera.
Other owners who listed their properties over the last 12 to 18 months with no success have also decided to have another crack at it, Hawkins said.
“We had a very flat market, people were sitting on their hands, they got frustrated, they removed them from market, and yes, I think now they’ve got the confidence to revisit and try again.”
Hawkins has just re-listed Loft 7 at 4/15A Augustus Terrace, in Parnell, and has several other high-end apartments whose owners have been waiting until after the election to launch them in the next few weeks.
Some luxury apartments in the award-winning Edition Parnell complex priced from $2.95m are also attracting interest and he’s got plenty of viewings lined up for them.
“It’s definitely given us a whole new activity in all sorts of areas.”
The luxury apartments in Edition Parnell at 2 Churton Street are also getting renewed renewed interest from buyers. Photo / Supplied
Barfoot & Thompson St Heliers salesperson Paul Neshausen has eight new listings about to launch now the election is over including several impressive homes in Glendowie and St Heliers. The properties, are in the $5m to $6m price range and have either a pool, sea views or are on large sections.
“For some people that’s the demarcation line – now there’s a change of government and there’s positivity, now we are going to market,” he told OneRoof earlier this week.
He also felt homeowners who had tried to sell 12 to 18 months ago and want to give it another try might have a better chance of getting the price they are after.
“The All Blacks won on Sunday so that helped as well – the mood in this country is somewhat aligned with how the All Blacks are performing so people are feeling positive. The National Government has some real estate initiatives that I think are going to accelerate the market, it seems like inflation is under control a bit and it sounds like interest rates are going to increase one more time or plateau where they are at right now so there’s a bit more certainty.”
15 Fern Glen Road South, in St Heliers, Auckland, is set to hit the market again after failing to settle. Photo / Supplied
Among those properties to hit the market for a second time is 15 Fern Glen Road, in St Heliers. It sold early last year but failed to settle, according to property records.
Neshausen said the property offered fantastic buying because it would be significantly below its CV of $9.2m. It was also near impossible to find a property on a 5290sqm-plus site in the Eastern Bays, he said.
”You can’t find that much land around the bays and to be selling significantly under the CV that’s almost unheard of too.”
Ray White Remuera salesperson Steve Koerber has about six premium properties in the suburb coming on the market from now until mid-November and all bar one have been in the planning for several months.
Among his new listings is a three-bedroom apartment at 5/460 Remuera Road, which has an asking price of $3.28m and had tested the market earlier this year.
A three-bedroom apartment at 5/460 Remuera Road, in Remuera, Auckland, has an asking price of $3.28m. Photo / Supplied
Koerber said the owners, who are mostly downsizing or moving overseas, were deliberately waiting until after the election to list their homes.
“They have specifically timed it so it was after the election with the belief that it would be a more positive market environment.”
The fact that it will now be a National-led Government had only encouraged them to go ahead with their plans to sell, he said.
A large home on Victoria Avenue is being sold due to the owners downsizing, while another large home on Rangitoto Avenue is also hitting the market in the next two weeks.
“Anyone coming to the market, they are not going to do it unless they are pretty serious. There aren’t a lot of triers out there. There’s only serious people.”
Lowe & Co managing director Craig Lowe is expecting a similar rush in listings in Wellington.
“There’s no doubt in my mind that sales volumes, but particularly listing volumes, are about to dramatically increase in Wellington.”
The city has had a shortage of stock over the last three months with demand outweighing supply, but this could flip if a large number of properties suddenly hit the market all at once.
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