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

Auckland median price unchanged

By Debbie Jessup

Last week, the Real Estate Institute of New Zealand (REINZ) released their June report on the real estate market in New Zealand.  Results from the Auckland market showed that the median price is flat, the number of new listings is down and properties are taking longer to sell.

Median house prices in Auckland remained flat at $850,000, exactly the same price as last month and as the same time last year. In contrast, the REINZ Housing Price Index showed property values in Auckland falling by -3.5% indicating that parts of Auckland have experienced some moderate cooling.

A decrease in new listings by 12.7% year-on-year means less new stock available, and the number of properties sold in June fell by -3.2% year-on-year (from 1,879 to 1,819).

Bindi Norwell, REINZ CEO, commented:

“With the lowest number of new listings for the month of June since listings records began, Auckland saw the lowest number of properties sold for two months continuing the trend we’ve seen for a few months now.”

“Our seasonally adjusted results tell us that, compared to what we expect when moving from May to June, the observed stability in median price was in contrast to the minute decrease expected and the observed decrease in sales count was smaller than expected. The current Days to Sell of 45 days is above the 10-year average for June which is 35 days. The level of inventory available for sale currently sits at 27 weeks, six weeks more than in June 2018.”

For a summary of the key data for the Auckland market – click here.

Up to Date

Latest News

  • Ray White Eastern Group Home Guide – 14 October 2020

    Our weekly Home Guide is ready for you to view with lots of new listings. If you have any questions or wish to view a property, please pick up the phone and we will be happy to help. To view our eBook, please click on the image below. If you … Read more

    Read Full Post

  • Momentum continues in September

    ARTICLE SUPPLIED BY REINZ “The number of residential properties sold in September across New Zealand increased by 37.1 per cent from the same time last year, from 6112 to 8377 – the highest number of properties sold in a month in New Zealand for 42 months since March 2017 and … Read more

    Read Full Post