Remuera Q4 | 2021

REMUERA
STEVE KOERBER’S
Quarterly REPORT Remuera Grammar Zone - Q4 October | November | December 2021
RAY WHITE REMUERA | MEGAN JAFFE REAL ESTATE LTD (LICENSED REAA 2008)
Despite turbulent times in 2021, Remuera shone again.
As I sat down to write to you about how the Remuera market has been faring recently, I flicked back through my 4th quarter reports from 2020, 2019, 2018 and 2017. All of them, except my 2020 report, spoke of modest price increases and relatively low numbers of sales.
Remuera prices had drifted sideways for long enough, so it was no surprise that when Covid hit, a higher percentage of buyers recognised the great value our suburb offers in terms of location, amenities, and much more. In a time of turbulence, it was Remuera’s time to shine again!
Remuera’s annual median price increased at a record pace from $1,900,000 to $2,588,000 (or 36.2%) during the 12 months to Dec 2021. What makes that statistic more remarkable is that it followed a 19.1% increase in 2020. We’ve actually experienced a 55.3% rise over 2 years, meaning the median Remuera property has increased by $9,452 per week since just before the arrival of Covid.
Here is how some other suburbs performed during 2021 (median annual price growth): Meadowbank 12.8%, Orakei
38.9%, Herne Bay 6.2%, Parnell 25%, Mount Eden 15.9%, Ellerslie 12.8%, Takapuna 7.9%, Ponsonby 24.3%, Epsom -1.2%.
So how will the Remuera market perform in 2022? It is
hard to imagine further price increases, but I will be brave and predict that the number of sales will reduce, and the average number of days to sell will increase. The market will consolidate.
2021 was clearly a busy year, and despite transacting 1 in 4 Remuera GZ homes during the last quarter, Nila and I were able to help even more Remuera home owners due to our world-class systems and the behind-the-scenes 24/7 support from our amazing admin & marketing squad (Trudy, Dominic & Matt).
Until next quarter, stay well. Steve Koerber
Remuera Median Sale Price
Quarterly rolling median for the period December 2016 to November 2021
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RAY WHITE REMUERA | MEGAN JAFFE REAL ESTATE LTD (LICENSED REAA 2008)
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Number of Sales (Bar)