Latest property update - August 2016

The number of days to sell has only improved by one day at the national level over the past 12 months. Six regions have seen a decrease of 20% or more in the number of days to sell.   
Auckland is the only region to see a lengthening of the number of days to sell over the past 12 months, up 1 day to 31 days.

There were 1,799 dwellings sold by auction nationally in August, representing 24% of all sales and a decrease of 117 (-6%) on the number of auctions in August 2015.
Transactions in Auckland represented 60% of national auction sales - that's a drop from the 72% of national auction sales this time last year.

Data released by REINZ for August 2016 shows that housing inventory available for sale is continuing to rapidly fall nationwide, with an 18% decline in properties available for sale year-on-year and five regions with less than 12 weeks of supply, which represents almost 70% of sales volumes and notably, sales in Auckland were down 20% compared to August last year.


Shannon CorbettComment