Posts tagged QV
Are the house prices going down in Auckland?

Not according to QV house prices index they haven't.

QV predicts that the Auckland value growth will slow a little in the coming months while other areas pick up through until December. Some real estate figures have shown the median sales price to have dropped, but the median sales price tends to drop every year between July - August, and there has been more activity at the lower end and less at the top which pulls the median values down

Auckland is up 22.6% annually or 6.7% over the past three months. The fastest increases in Papakura at 11.4% and Manukau at 9.0% over the last three months. This shows more interest around the outer parts of Auckland due to affordability.

Hamilton has experienced a large increase (according to the index) is up 9% over the previous three months - making that the fastest rate of increase in Hamilton since 1989!

Worth noting also is that the monthly index is based on the previous three months of sales data so based on this, in the past month they have increased at a rate of more than 6% per month - now that is what I call a superb investment return!

Coundown to Christmas...

It is getting to that time of year again when the market quietens down briefly for the Christmas–New Year holiday season. In my opinion, the last date to auction a home would be the 13th of December. Otherwise, it is just cutting it too fine and you don’t want a home sitting around over the holiday period. I am talking to many people who are opting to take advantage of this time to do some renovations, then bring their home to market in the new year. The market bounces back around mid-January, which is a prime time to list before the rush of other listings come on in February and March.

Pictured below are the happy vendors of one of my November auctions on Wilmay Avenue, Papatoetoe — they were rapt with the sale price they achieved at auction. You can view highlights of this auction on my YouTube channel. We are seeing some really great prices for homes, so the market is still abundant with buyers.

Wilmay Ave, Papatoetoe

The latest property market summary from QV is summed up as follows:

The Auckland market has increased 9.2% from this time last year, 2.5% over the past three months and a massive 35.1% since 2007. Manukau Central values increased 4.1% over the past three months — which is the highest rate seen since earlier in the year. Manukau Central values are up 12.2% year on year and 26.2% since 2007.

By the way, have you received your new rating billing yet? Forrest Hill and Mangere Bridge have increased up to 55%. Papatoetoe is up 35%, Goodwood Heights up 25% and Totara Heights up 23%. The latest valuations won’t be used for rating purposes until July next year, but councillor Cameron Brewer said many of those suburbs that have inflated substantially over the past three years could now expect their rates increase next year to be well above Mayor Len Brown’s proposed average increase of 2.5%