Market data over the last 2 years indicates that in the southern area of the previous Rodney District and the northern rural areas of the previous North Shore City there have been a number of lifestyle properties that have sold for at least $2,500,000 or in excess. To our knowledge there have been three major sales that have been transacted so far this year - firstly the property at 92 Three Oaks Drive, Dairy Flat and the substantial sale at 60A Goldflats Lane, Coatesville in March for $7,600,000 and the more recent sale in July of a property at 945 Kahikatea Flat Road, Waitoki.

Our research would indicate there has been a continued strong demand for commercial retail investment properties, especially for prices under $1,500,000 to $2,000,000. The market has remained strong even through the downturn in the overall economy evident in the earlier months of the year 2008. Whereas commercial/industrial and commercial/office properties have seen a rise in capitalisation rates and yields generally around 1% to 2% over this period, commercial retail property yields have remained reasonably steady.

Recent sales information publicised by the Real Estate Institute in the latter months of the year 2009 report a number of good quality residential properties in the southern suburbs of Auckland's North Shore selling in excess of $2,500,000. Demand has returned to the marketplace and many of these properties have been offered for sale for some considerable time without attracting a successful purchaser. However it is noted to several real estate organisations actively marketing these expensive properties that there is a renewed level of enquiry and activity.