Posts tagged property report
Manukau features as one of the top 10 suburbs where the property market is predicted to boom
703-FB6356-Manukau-City.jpg

Manukau features as one of the suburbs that are among the 10 New Zealand suburbs and towns that have the most potential for growth in new residential dwellings, according to research from Colliers International.

Pete Evans, Colliers national director of residential project marketing, says the focus in 2019 has shifted to the supply of affordable homes and regeneration of traditionally less expensive suburbs.

“Investment in these suburbs through new development and infrastructure will invigorate these areas and create more desirable places to live with continued growth potential,” he says.

The "Golden Triangle" centres of Hamilton, Tauranga and Raglan – along with the Auckland suburbs of Onehunga and Westgate - remain among the pick of top growth areas for the second year in a row.

At the higher end of the market, Auckland’s Wynyard Quarter is expected to experience continued improvement in the lead up to Apec in 2020 and The America’s Cup in 2021.

SO WHY MANUKAU?

Manukau is one of three centres outside of CBD that Auckland Council has prioritised for growth through to 2050 and is expected to undergo significant change.

The Transform Manukau project involves major investment by council and central government and covers 600ha of land including the metropolitan centre and Wiri suburban area to the south.

This will regenerate the town centres at both Manukau and Wiri, support substantial residential and commercial development and focus on improving services such as healthcare and schooling, as well as increased tertiary education presence in the area.

Transportation improvements include a new integrated rail and bus station, upgrades to Great South Road, a mass transit route from the airport to Botany via central Manukau, and creation of a comprehensive cycle network. The Auckland suburbs of Onehunga, Northcote, Manukau, New Lynn and Panmure are primed to defy the city's housing market slowdown.

Source

REINZ March property statistics

The Monthly Property Report from REINZ, has shown the median house price for New Zealand rose 1.8% in March 2018 to reach a new record high of $560,000 up from $550,000 in March 2017 .

The number of properties sold in March around New Zealand fell by 9.9% when compared to the same time last year with 7,768 properties sold in comparison to 8,622 in March 2017 which was the highest month for sales volume in 2017.

The March statistics on the left relate to Manukau and the data on the right relate to Papatoetoe.

REINZ.jpg

Read more here: https://www.reinz.co.nz/residential-property-data-gallery

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 Realestate.co.nz. 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.

Source