What's happening in the market right NOW
Read Here
News

April sees Auckland’s median house price stalling

By Bob Mountfort

The Real Estate Institute of New Zealand (REINZ) released their monthly report on 11 May.  The headline read “Real Estate Industry sees highest annual volume increase in 23 months”, which sounds very positive.  However, reading further in the report, it became clear that this statement only applied to the rest of New Zealand as the figures for Auckland did not follow the national trend.  In Auckland, the number of sales increased a modest 2.4% (from 1,810 sales in April 2017 to 1,854 sales in April 2018) and Auckland’s median prices decreased marginally by 0.7%, down from $855,000 in April 2017 to $850,000 in April 2018. Bindi Norwell, Chief Executive of the REINZ  said that “looking at the price breakdown for the Auckland market explains why the region experienced a decrease in median price.  The number of properties sold for between $250,000 to $750,000 increased and the number of properties sold in the $750,000 and above brackets fell, thereby bringing the overall median price down.

Bindi continued to report “the Auckland property market is showing signs of becoming more complex with different sales patterns within the region.  For example, Franklin sees a steady demand with moderate increases in sales, prices holding and a good listing base; whereas East Auckland is seeing a slow down in auctions and open home attendees.  Auckland’s property market is always changing, but it is likely that there now won’t be any major changes to the current patterns until spring”.

Up to Date

Latest News

  • Open Home Guide 30 October 2020

    Check out this week’s Open Home times in our latest ebook. If you would like further information, please give us a call or click on the email address shown. To view our eBook CLICK HERE

    Read Full Post

  • Ray White Eastern Group Home Guide 21 October 2020

    It’s been another busy week with many new homes looking for new owners. To view our listings, please contact us below and we will send one through a printable pdf. As always, if you have any questions at all about the real estate market please get in touch.

    Read Full Post