Posts tagged real estate east auckland
Commentary for the industry forecast this Spring from the CEO's of NZ's major real estate firms.

It's wonderful to have the finer, warmer weather upon us - spring couldn't come soon enough after what I would say has been a cold, wet winter.

Right, let's get into the market performance. With housing choice tight, demand exceeding supply, stable mortgage rates and trading banks with mortgage money to lend, there is every reason to be positive about the prospects for housing for the remaining months of 2018.

Commentary for the industry forecast this Spring from the CEO's of NZ's major real estate firms.

''Moving through the coldest months, we’ve seen good activity in the Auckland housing market as winter continues. New listings in the city were up by an impressive 37.29% compared to last year, from 472 to 648, indicating an uplift is in the air for the coming months. Auctions, too, have seen a notable increase of 21.81% since July 2017.

Those who have listed now will no doubt see that no matter what the weather is doing, people still need to move no matter what the season'' - Chris Kennedy from Harcourts

''At current prices, vendors’ and buyers’ expectations are meeting.
Unless there is a major change caused by external factors, it’s where prices are likely to stay for the remainder of the year.'' - Peter Thompson from Barfoot and Thompson

''The market has a degree of normality, with no changes expected regarding lending, property supply or buyer confidence. The Auckland market is expected to have a surge of listings from September. It’s the regions that have shown the greatest pricing increases for the past 12 months. As purchasers look for value, regional centres could experience ongoing shorter supply of property and price increases.'' - Carey Smith from Ray White

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Auckland's average asking price has lifted as stock levels reduce

The latest statistics from site report an increase in buyer activity, a lift in asking prices and a drop in new listings - this could indicate that we have a classic supply and demand situation.

The total number of properties available for sale nationally fell 3.8% (21,288) compared to the same month in 2017.  Asking prices increased marginally across the country (0.9% compared to June 2018).

In Auckland, the average asking price lifted for the first time in four months. Now sitting at $959,067, it’s comparable to the February 2018 asking price of $961,940. 

Nationally, new property listings were down 5.4% compared to July 2017, with 7,508 new listings coming onto the market this past month.

Auckland recorded a 7% decline in new listings when compared to the same time last year.