Market Overview

Quarter 2 2013
Pressure is mounting in the current market place as we continue to encounter strong levels of demand; whilst the number of properties on the market has shrunk to an all time low. We are currently experiencing unprecedented low levels of stock, with other agencies reporting the same across city fringe suburbs. The majority of our sales have been under the hammer, with Auction being our recommended method of sale. Market conditions have led to intense competition amongst buyers, resulting in premium sale prices being achieved. Examples of these are illustrated on the right. Strong demand has also led to many short call auctions. Sales are being concluded in record low timeframes, with our average days on market being 20. Clearance rates are at a record high of 96%. Prices are up. Our average sale price in Mt Albert has increased by 23% from $717,000 Q1 to $880,000 in Q2 2013. This is much higher than the industry average sale price in Mt Albert being $736,000 for sales in Q2. Vendors choosing to sell right now couldnt have picked a better time. In my 20 years of selling properties I have never seen such a drought of listings. Historically there is usually a winter slow down, with people tending to wait until spring to put their homes on the market. However listings have never been so scarce. If you are thinking of selling I urge you to take advantage of the current market; dont wait until spring when traditionally there are more properties on the market and subsequently more choice for buyers. Character family homes were most popular amongst buyers; especially renovated villas and bungalows which ticked all the boxes in the $800,000 $1,200,000 range. My advice to buyers is that you need to be ready to buy and compete. Ensure that you have all your ducks in a row so you are able to act quickly to secure a home. For buyers with a home to sell, now is a great time to sell with market conditions being the most favorable Ive seen. 2 Glenarm Ave, Mt Roskill Sold under the hammer in April for $1,000,000. CV $610,000. 47 Margaret Ave, Mt Albert Sold under the hammer in May for $555,000. CV $480,000.

78 Kitenui Ave, Mt Albert Sold under the hammer for $1,405,000 in May after 4 days on the market. CV $910,000.

The outlook
I think we can expect much the same as Q1 & Q2. The current climate will prevail with strong demand, stable interest rates, and limited supply. People are delaying selling their homes until they have secured a new one; unlike a few years ago. With few properties coming on to the market I dont think we are going to see the typical winter slow down this year. Mt Albert and city fringe suburbs are very hot right now. If you would like an opinion of what your property could be worth in todays market; or for assistance with any of your real estate needs, please dont hesitate to contact either myself or your preferred team member. Cheers,

Q2 Results 2013

96% Auction Clearance Rate

20 Average Days on Market

Up 23% Average sale price from March 2013

Albert $880,000

Anne

Anne Duncan Real Estate Sales Q2 2013 (1st April to 30th June)
30 Henry Street 88 Holly Street 1/5 Powell Street 20 St Jude Street 10 Te Wiata Place 2/23B Western Springs Road 54 Alberton Avenue 39 Alexis Avenue 23 Asquith Avenue 36A Asquith Avenue 59 Asquith Avenue 77 Asquith Avenue 1B Burch Street 181 Carrington Road 40 Chatham Avenue 62 Kitenui Avenue 78 Kitenui Avenue 20 La Veta Avenue 8 La Veta Avenue Avondale Avondale Avondale Avondale Avondale Kingsland Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 592,000 656,000 530,000 610,000 601,000 315,000 980,000 1,385,000 1,300,000 1,050,000 853,000 905,000 750,000 695,000 739,000 1,615,000 1,405,000 880,000 1,275,000 8 May 2013 19 June 2013 19 June 2013 8 May 2013 8 May 2013 5 June 2013 8 May 2013 3 May 2013 22 May 2013 23 May 2013 19 June 2013 8 May 2013 8 May 2013 12 April 2013 22 May 2013 8 May 2013 16 May 2013 22 May 2013 17 April 2013

35 Linwood Avenue 40 Lloyd Avenue 47 Margaret Avenue 18A Mt Albert Road 56 Mt Royal Avenue 2/645 New North Road 812 New North Road 4/825 New North Road 18 Parkdale Road 36 Parkdale Road 4 Phyllis Street 14 Preston Avenue 420A Richardson Road 7A Seaview Terrace 23 Segar Avenue 33/8 Soljak Place 2/8 Springleigh Avenue 13 Thomas Avenue 19 Wairere Avenue 21 Wairere Avenue 37 Weston Avenue 2 Glenarm Avenue 17 Sheridan Drive 14 Bentleigh Avenue 15 Brothers Street 39 Mary Dreaver Street 1012 Great North Road 16A Walker Road 1/27 Wright Road 20 Calgary Street 95A Haverstock Road 2A Marne Road 219 Mt Albert Road

Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Albert Mt Roskill New Lynn New Windsor New Windsor New Windsor Pt Chevalier Pt Chevalier Pt Chevalier Sandringham Sandringham Sandringham Sandringham

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

727,500 1,450,000 555,000 747,000 687,000 362,000 730,500 301,500 830,000 986,000 760,000 810,000 690,000 560,000 666,000 317,000 447,000 860,000 1,065,000 936,000 1,575,000 1,000,000 529,000 785,000 735,000 561,000 715,000 638,000 510,000 1,225,000 540,000 855,000 680,000

10 April 2013 24 April 2013 8 May 2013 3 April 2013 8 May 2013 18 June 2013 5 June 2013 19 April 2013 10 April 2013 10 April 2013 8 May 2013 24 April 2013 21 June 2013 18 April 2013 24 April 2013 7 June 2013 19 June 2013 16 May 2013 24 April 2013 23 April 2013 24 April 2013 24 April 2013 19 June 2013 8 May 2013 10 June 2013 24 April 2013 10 June 2013 18 May 2013 11 June 2013 10 April 2013 24 April 2013 16 April 2013 10 April 2013

Please note data herein is primarily sources from my own enquiries and from Anne Duncan sales. Disclaimer: This document is intended to provide the recipient with preliminary background information about a specific market based on the data available to Anne Duncan Real Estate at the time of preparation. Anne Duncan Real Estate does not accept any liability for statements made in or any omission from this document.