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

Highest number of Auckland properties sold in month of July for 3 years

By Debbie Jessup

According to data received from the Real Estate Institute of New Zealand (REINZ), the number of properties sold in Auckland in July increased by 6.6% year-on-year (up from 1,777 to 1,894).

New listings decreased by 2.5% year-on-year, however the Auckland region saw the highest number of properties sold in the month of July for 3 years and the first annual volume growth in 8 months. Much of this annual growth was led by strong sales volumes in the Papakura District (+19.8%), and in Manukau City (+18.5%) when compared to this time last year.  Multiple apartments are being built in these areas, which are appealing to first home buyers and may explain the increase in sales volumes.

Low mortgage interest rates, rejection of the proposed capital gains tax, and good (though easing) net migration flows will also be contributing.

Median house prices in Auckland remained flat at $830,000 – the same price as July last year, although the median price fell by -2.4% when compared to June this year.

Given the reasonable outlook for NZ growth – looking forward the market will probably be steady,and we expect more activity in the coming Spring months.

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