What's happening in the market right NOW
Read Here
News

Momentum continues in September

By Alison Borland

ARTICLE SUPPLIED BY REINZ

“The number of residential properties sold in September across New Zealand increased by 37.1 per cent from the same time last year, from 6112 to 8377 – the highest number of properties sold in a month in New Zealand for 42 months since March 2017 and the highest number of properties sold in a September month for 14 years.” reported Bindi Norwell, Chief Executive of REINZ.

In Auckland, Media prices in Auckland reached a record high of $955,000 in September, up 12.6% year-on-year.

Additionally, Auckland City ($1,250,000) and Manukau City ($970,000) reached new record medians. The REINZ House Price Index for Auckland also reached a new record high of 3,194, up 11.4% on the same time last year. Sales volumes increased 53.2% year-on-year with 2,861 properties sold. New listings were up 34.4% on the same time last year and up 27.3% on last month.

Bindi also commented “Auctions have remained a popular method of sale, with good levels of competition and approximately 80% clearance rates. First time buyers are extremely motivated to buy, particularly with the lack of LVRs and low interest rates; however, we are still hearing reports that it is not easy to secure finance from the banks and this is acting as a barrier for some potential purchasers. Investors appear to be expanding their portfolios as they are still actively purchasing in the market, but not selling.”

If you have any questions about the real estate market, are thinking of selling or looking to buy, please get in touch and we will happy to help you.

Up to Date

Latest News

  • Auckland median house price hits $1M

    Article supplied by REINZ Median house prices across New Zealand increased by 19.8% from $605,000 in October 2019 to a new record median high of $725,000 in October 2020; and up from $689,000 in September this year (a 5.2% lift) according to the latest data from the Real Estate Institute … Read more

    Read Full Post

  • Home Guide 2020

    Take a look at the properties we have on offer including full-page spreads of our latest listings….. If you have any questions or would like to view a property, please contact us below Click HERE to view

    Read Full Post