First Realty Newsletter September 2025

23 September 2025

We listed 3 Falkirk Street in Blockhouse Bay for sale on Trade Me on 8th September at a price of $700,000. The reason for this low pricing was, that the property has an un-remediated land slip at the rear, which requires a retaining wall to be built with Council approval. Within the first 15 days the ad was viewed 7348 times. We received 46 email enquiries and heaps of phone calls/text messages. We received three offers and the property is now under contract.

I have a number of buyers lining up to make back up offers as on date. Quite frankly, this has been quite a challenge in terms of being able to respond to all the enquiries. But more importantly, it shows that there are lots of buyers ready to snap up a good bargain, if the marketing is done properly.

So if you are thinking of selling, please give me a call and we can have a chat.

For Sale

3 Falkirk Street, Blockhouse Bay

Do-Up or Potential Development Opportunity

Under Contract but looking for back up offers.

Good sized Kiwi Bungalow consisting of 2 bedrooms.

One bathroom with separate bath and shower, separate toilet.

Laundry and basement garage.

Located on the New Lynn – Blockhouse Bay border.

Walking distance to Chaucer School.

Building permit issued for retaining wall to remediate slip at rear. Subject to Resource Consent.

Tenanted till January 2026.

Motivated Vendor.

Agents welcome for conjunctional.

Contact Mohijit for more info.

Market remains flat

As per the latest REINZ August 2025 property report, the data shows a 1.3% increase in the Auckland median sale price, compared to the same period last year and a 8.6% decrease in the sales count. Compared to the previous month, the median price is down 0.6% and sales sount is down 10.9%. REINZ reports that “much depends on other factors such as the job market and possible OCR reductions”. They also say that there is cautious optimism “that there will be incremental improvements over the next few months”.

To view the full REINZ report, click here.

Property Investor Insights August 2025

Economist Tony Alexander shares his insights in his latest Property Investor report, which compiles the response he has received from 277 property investors. The results show the following:

The net proportion of landlords planning rent rises has decreased to a record low.
Finding a good tenant is reported to be currently quite difficult.
Worries remain high about council rates rises but few landlords have concerns about meeting their mortgage repayments.

To view the full report, click here.

NZHL Property Report August 2025

Economist Tony Alexander shares his insights in his latest NZHL Property report, which compiles the response he has received from 274 real estate agents. The results show the following:

First home buyers continue to have strong dominance in the market. An improvement in investor buying might just be seasonal.
Overall, agents still feel that average house prices are falling.
FOMO remains low and a strong proportion of agents have reported that they are receiving more requests for property appraisals from potential vendors.