Steve Koerber's Quarterly Report

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, emuera shone again.
As I sat down to write to you about how the Remuera market has been f aring recently, I flic ed back through my 4th quarter reports from 2020, 2019, 2018 and 2017. All of them, e xcept my 2020 report, spoke of modest price increases and relati ely low numbers of sales.
Remuera prices had dri ed sideways for long enough, so it was no surprise that when Covid hit, a higher percentage of buyers recognised the great value our suburb o ers in terms of location, amenities, and much m e. I n a time f turbulence, it was Remuera’s time o shine again!
Remuera’s annual median price increased at a record pace from $1,900,000 t o $2,588,000 ( or 36.2%) during the 12 months to Dec 2021. What makes that statistic m e remarkable is that it f ollowed a 19.1% incr ease in 2020. We’ve actually e xperienced a 55.3% rise o ver 2 years, meaning the median Remuera property has increased by $9,452 per week since just before the arrival of Covid.
Here is ho w some o ther suburbs perf ormed during 2021 (median annual price growth): Meadowbank 12.8%, O rakei
38.9%, Herne Bay 6.2%, P arnell 25%, Mount Eden 15.9%, Ellerslie 12.8%, Takapuna 7.9%, P onsonby 24.3%, E psom -1.2%.
So how will the Remuera market perform in 2022? I t 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 bus y year, and despit e transacting 1 in 4 Remuera GZ homes during the last quart er, N ila and I were able to help e ven more Remuera home o wners due t o our world-class systems and the behind-the-sc enes 24/7 support
from our amazing admin & mark eting squad ( & Matt)
rudy, D ominic
Until n
xt quarter, stay well.
Steve Koerber
Remuera Median Sale Price
Quarterly rolling median f or the period D ecember 2016 t o N ovember 2021
2,800,000 2,600,000
2,400,000 2,200,000 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000
0
1617 18 19 20 21
RAY WHITE REMUERA | ME GAN JAFFE REAL ESTATE LTD (LICENSED REAA 2008)
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Median Sale Price
Number o f S ales
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Median Sale Price (Line)
Level 4 Lockdown
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Number o f S ales (Bar)