BLOCKING OUT THE NOISE
Written by Chris Gemmell, AREINZ
2nd September 2026 Have you been struggling over the winter season with the constant media chatter and “noise” around matters, both international and domestic? A lot of this news involves headline-grabbing and, more often than not, is written in a negative tone and bias. With two active wars going on, constant discussions on the cost of living, fuel prices and headline inflation, we now have political manoeuvring and its daily rhetoric ramping up as we head into the general election in a couple of months’ time. It can be hard to keep focus and, in some cases, keeping positive! For us at Ray White Lochore’s, whilst we have been mindful of the above, we have nonetheless “blocked out the noise”. Median Prices and Trends – What’s Really Happening?
There are so many real estate articles being written every month that provide sweeping generalisations of the national or regional statistics, median prices, stock levels versus previous years, average days to sell and average prices versus pre-COVID levels. Markets within markets. Cutting through the noise, we are continuing to see positive signs in the residential space on the North Shore. The middle price bracket (circa $1.0 – $2.0 million) has been active, with stand-alone homes currently the flavour of the season, as families step on up from first homes and new arrivals back into the country, quietly renting or living with relatives until the right property becomes available. In many ways, this trend cuts across the media reports. We have had some outstanding auction results during late autumn and winter, with sound, well-reaching marketing campaigns generating extensive online awareness and multiple buyer activity. Birkenhead, Birkenhead Point, Hillcrest, Birkdale & Coastal Beachhaven are all fresh case studies where our Auction Suite at 100 Mokoia Road has been active with heated and competitive bidding. Reserve prices set by owners significantly exceeded and excited buyers and sellers having their photos taken! First home buyers are also out and about, many pre-approved on finance and keen to get on the property ladder when they see a property realistically priced and well presented. Latest statistics indicate first home buyers now represent around 30% of all buyers in the market, up from traditional numbers around 20-21%. A powerful and sizeable segment. Many complete their market research and due diligence carefully, taking time before they act. With the recent 0.25% rise in the OCR and several more increases signaled by the Reserve Bank, their focus to buy will continue to heat up. New-build terraced homes remain a challenge in some pockets, simply from a supply versus demand perspective, where buyers have a wider choice. Situated on small freehold sites, some buyers’ focus is very short-term, purely on year one cashflows, as they may not involve Body Corporate fees. There is potentially a catch here in the medium to longer term, with some developers offering minimal defect and maintenance periods from new and no structured regime for future painting, or maintenance of common areas. A potential ticking time bomb.
Conversely, there remain some well-run existing townhouse or apartment developments that are proven performers, with Body Corporate fees and planned maintenance representing good value and carefree ownership. Building consent numbers are up, and some previously shelved townhouse and apartment developments are gaining momentum again, as developers see opportunity ahead and construction costs stabilise. This is an exciting trend emerging, which will provide new market offerings in and around Birkenhead. For seasoned investors, perhaps it is time to get a portfolio “health check”. That is to see where individual market values sit and to rationalise any non-performers, with a view to enjoying retirement with some well-earned capital, or to bolster the portfolio with something new. Well built and well located! If you are curious about where values sit, just reach out – my Registered Valuation background and over 25 years of actively selling property on the inland North Shore will ensure you receive honest, reliable and accurate advice, with no strings attached.
We wish you all the very best for the Spring season ahead. Chris Gemmell, AREINZ
Registered Valuer (non-practising)
Ray White Elite Performer (2025-2026). |