Posts tagged auckland property prices
Latest property update - February

A number of regions in New Zealand experienced new record highs in average asking prices in January, according to data from National inventory in January hit a new all time low of 14.7 weeks. The previous all-time low was 16.1 weeks set in October last year.

The total number of new listings across the country in January was 8,144, down 14.6% compared to the same month a year ago.

The national average asking price in January was $542,514, up 3.7% from December though still short of the all time high of $568,215 set in August 2015. The average asking price in Auckland fell 2.3% to $828,629 in January from $848,195 in December, though Auckland also experienced a decline in listings of 18.4% from the same month last year.

New record highs in average asking price in January were set in Central Otago reaching an increase of 4.5%, the Bay of Plenty reached a new high of $501,961, up 3%, Wellington was up 2% and Waikato was up 6.3% compared with December last year.


Latest market update - January

The market over the December period in Auckland asking prices levelled off, but continued to remain near record-high levels. In Auckland, the average asking price was $848,195, marginally below the record set in September of $851,531.

The total number of new listings across the country in December was down 3.3% compared to December 2014 and Auckland down 6.6%.

National inventory (the average time it takes for a home to sell) continues to remain near record low levels. The long-term national average is 34 weeks and in Auckland, the average time is 13 weeks.

The areas in Auckland that saw the highest growth in Auckland were Glendene, values rising32.6% over the past year, Massey values had risen 34.2% from this time last year and Sunnynook was up 29.8%. Onehunga values rose 22.5% from an average of $663,450 to $817,000. Birkenhead values rose 19.8% year on year from $774,150 to $933,750.