October Figures

FOMO stokes market

Auckland is amid some of the strongest market conditions ever experienced. Our virtual auction rooms, a hive of online activity with determined buyers vying to secure property. Harcourts Cooper & Co had over 3,200 people tune in to watch our auctions over the past 7 days.

North Shore sales volumes plummeted 67% in September due to the level 4 lockdown. Moving into level 3 combined with the usual Spring lift has assisted in a dramatic rebound in October to 416 sales – above the long-term average volumes as depicted below. The ability to conduct business remotely and eased restrictions around viewings have enabled real estate continuity, while a general FOMO — fear of missing out – stokes a market that remains strong.