I strongly believe that understanding the ‘neighbourhood’ market trends (i.e. at a micro-market level) is way more useful to buyers and sellers in these suburbs than the national/regional statistics.
This time, the Eastern Suburbs have generally followed the trend across the wider Auckland region.
Median prices on the whole for the Eastern Suburbs (Orakei, Mission Bay, Kohimarama, St Heliers, Glendowie, Remuera, Meadowbank, St Johns, Stonefields and Wai-O-Taiki Bay) have increased 6.1% as compared to last month but decreased 8.7% as compared to same time last year. The relatively high median price in October 2017 is due to a number of high profile sales in the Eastern Suburbs during that time, some to the tune of almost 12 million dollars. This will most definitely affect median prices.
Number of properties sold have increased 47% year-on-year, demonstrating that market confidence has returned from this time last year (just prior to the national elections). Median days to sell this time is slightly longer than the last month, but it is not statistically significant.