– You can’t come in: Night of drama at Jacinda Ardern’s auction<\/a><\/p>\nKoerber\u2019s listing on Waiatarua Road, in Remuera, appealed to families with young children, partly because the street was so friendly, he said.<\/p>\n
\u201cIt\u2019s kids playing with kids and friends, and they all go to the same school, which is on the same side of the street as this house.\u201d <\/p>\n
This house had four bidders and went to an expat family. <\/p>\n
Koerber said the Iran war was having an impact on property values and appraisals. \u201cIf I went to a house right now and the owners asked me, \u2018What’s my house worth?\u2019, I\u2019d go to the sales in the last six months. Right now, half of those would be before the war and the other half would be during it, so it really makes things different.\u201d<\/p>\n
The war had thrown a lot of caution into the market, he said. \u201cThere are some open homes I\u2019m running with one or two people through. I could timestamp those, and if I go back one year, or two or three, the numbers are phenomenally more.\u201d<\/p>\n
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A well-presented five-bedroom home on Ridings Road, in Remuera, was quickly scooped up by a local buyer. Photo \/ Supplied<\/p>\n
Koerber had noticed people trying to buy in Remuera from other suburbs, such as Ellerslie and Mt Wellington, were pulling back. <\/p>\n
These buyers, who were jumping up in price, went to open homes and liked what they saw, but afterwards would realise they didn\u2019t have the funds to make the move happen.<\/p>\n
The next market hurdle was the coming election and the likely post-election negotiations between parties. \u201cI think that\u2019s going to eat into time for people to list, so that\u2019s going to be a bit of a wasteland \u2013 between the election and Christmas.\u201d<\/p>\n
Koerber, however, had noticed an increase in off-market activity. \u201cThere\u2019s a hell of a lot of people in this cautious environment who ring and say, \u2018Hey Steve, have you got a buyer for my house because I don\u2019t want to come to market?\u2019<\/p>\n
\u201cThey want it to be easy because they are sensing that if they do come to the market, it\u2019s certainly not as easy as it was one or two years ago.\u201d<\/p>\n
Bayleys colleague Gary Wallace agreed the market was challenging, but said properties that are presented well still get buyers. <\/p>\n
He has just sold a five-bedroom home on Ridings Road, in Remuera, ahead of its set sale date, for an undisclosed price. <\/p>\n
Wallace sold the home to the vendors in 2023 for $6.63m, so he knew its qualities well. This time, the property went to a local buyer who moved quickly to secure it. <\/p>\n
\u201cIt was a lovely property. The current vendors had added a bit of value and presented it beautifully, so it really resonated well with buyers.\u201d <\/p>\n
While the Ridings Road deal came together quickly, stock was generally taking longer to shift. \u201cA few years ago, we had FOMO \u2013 fear of missing out. Now I think it\u2019s more a fear of paying too much. Motivated vendors who want to move on are meeting the market.\u201d<\/p>\n
While sellers might get less than they hoped, Wallace said that was relative if they were buying in the same market. \u201cI\u2019m hearing a lot of stories where buyers who have bought in the last four or five years are struggling to get their money back, but then again, what do you lose on the swings you gain on the roundabouts.\u201d<\/p>\n
He said the market was healthy with good inquiry levels. \u201cThere are certainly buyers out there with money to spend, so it\u2019s just really a matter of tapping into them and trying to get the deal done. If the property resonates, that\u2019s half the battle for us agents.\u201d<\/p>\n
– Click here to find more properties for sale in Remuera<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"– Two Auckland homes sold for $5.8m and $3.71m, highlighting a sluggish market. – Agent Steve Koerber notes…\n","protected":false},"author":2,"featured_media":526657,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,1258,43,40,38,41,39],"class_list":["post-526656","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-latest-news","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/526656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=526656"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/526656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/526657"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=526656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=526656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=526656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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