Page 1 - Q2 | 2020

REMUERA
STEVE KOERBER’S
Quarterly REPORT Remuera Grammar Zone
Q2 | April | May | June 2020
Remuera prices poised to move
For a stats enthusiast like me it’s tantalising to see Remuera’s quarterly rolling median price sitting just below the $1,800,000 mark. Almost exactly four years ago, in September 2016, our suburb first broke through that critical price level (see graph below).
Since that auspicious month Remuera values have ostensibly tracked sideways. Half the following months saw medians above $1,800,000 and half dropped below.
Since 2016 the biggest move above $1,800,000 was a short sharp 17% move to $2,105,000 in December 2017 (clearly a great time to have sold).
The biggest drop below $1,800,000 was a 21% three month slump to $1,415,000 that ended in October 2019 (a good time to have bought).
So where to from here for Remuera’s median price? Above $1,800,000 or below, and for how long?
With interest rates historically low and Remuera listing stocks also down, it would appear to be “steady as she goes” for at least the next quarter.
My last quarterly report explored the direction in which the Remuera market could move next. You can view it at www.loveyourarea.co.nz.
Regards
Remuera Median Sale Price
Quarterly rolling median for the period July 2015 to June 2020
Sep 16 $1.8 m
Dec 17 $2.105 m
Sep 19 $1.415 m
2,200,000 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000
800,000 600,000 400,000 200,000
Number of sales per quarter
250
200
150
100
50
0
DISCLAIMER: This issue of Remuera Market Report features a wide selection of the published residential property sales which have recently occurred. The Market Report includes information based on published reports of sales made by all real estate agencies and may include some private sales. While every reasonable effort has been made to ensure the accuracy of this information, however, as inaccuracies may occur, you should not confine yourself solely to the contents and should make your own inquiries to satisfy yourself in all respects. Megan Jaffe Real Estate Ltd Licensed (REAA 2008) Ray White Remuera accepts no responsibility should the contents of this Market Report prove to be incomplete or incorrect.
0
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2015 2016 2017 2018 2019 2020
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Number of Sales (Bar)
Median Sale Price (Line)