Latest Market Statistics
Read Now
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

  • Donate and Become a Night Knight

    This is your chance to become a Night Knight, as Ronald McDonald House Charities New Zealand is on a mission to raise more than $150,000 for struggling families. All Families need to be together and not worry about where to sleep or where their next meal will come from. If … Read more

    Read Full Post

  • A Little Ray of Giving

    Over 400 families will spend Christmas at a Ronald McDonald House while their child is in a hospital away from home. Drop a present into our office from 1 December and we’ll make sure it gets to a deserving family. A little Ray of Giving is a program where Ray White offices partner … Read more

    Read Full Post