News

Auckland real estate prices edge up slightly

By Bob Mountfort

According to the latest data from the Real Estate Institute of New Zealand (REINZ), the median house price for Auckland saw the first year-on-year increase in six months, with a rise of 1.4% to $852,000 in August.  Bindi Norwell, CEO of the REINZ, commented “after six months of flat prices in Auckland it is positive to see an increase as we head towards spring.

“We see that properties under $650,000 are selling quickly and anything priced $800,000 or under is also in strong demand depending on which suburb it is listed in. As always, location is paramount, and most suburbs have price ceilings to match the location, and we see that school zones are still critically important. Finance is available, but banks are tightening up their lending criteria. Great properties are selling well, and it is the ‘downsizers’ that list most of these houses. Vendors are more pragmatic in negotiations, and if the offer is close, they are more likely to accept the offer, while investors still have higher price expectations. If more properties come to market over the coming months, it should be a good spring.”

Up to Date

Latest News

  • Fewer new listings and stock sitting for longer

    Last Friday, the Real Estate Institute of NZ (REINZ) released its Monthly Property Report which showed some big increases in median prices in some areas around New Zealand. Auckland was not one of them! Auckland Results: Median house prices increased by 1.2% year-on-year from $850,000 to $860,000, compared to May 2018. … Read more

    Read Full Post

  • May 2019 sales in the Eastern Beaches area

    The figures below include all sales by all agencies for the suburbs of Bucklands Beach, Eastern Beach, Half Moon Bay, Howick, Cockle Bay, Shelly Park, Highland Park, Farm Cove, Sunnyhills, Pakuranga, Edgewater, Botany Downs, Northpark, Dannemora, East Tamaki, Flat Bush, Whitford, Beachlands and Maraetai. The full report is available here. … Read more

    Read Full Post