ARTICLE SUPPLIED BY REINZ
“The Auckland region saw a median price of $920,000, up 11.5% year-on-year. A new record price was achieved in Manukau City, reaching $928,000 supported by a big uplift in prices in East Tamaki, Half Moon Bay and Weymouth. Additionally, sales in Auckland recorded the highest July sales count since July 2015 (2,596 properties) reported Bindi Norwell, Chief Executive of REINZ
First home buyer activity remains strong with many families wanting to purchase while interest rates are low. A similar number of investors are in the market, but many are waiting for later in the year when values could drop as the ‘mortgage holidays’ come to an end.
Bindi Norwell, Chief Executive at REINZ says: “New Zealand’s property market continued to defy expectations in July with sales volumes increasing by 24.6% when compared to the same time last year. “This was the largest annual percentage increase in sales volumes we’ve seen for the country since September 2015, highlighting just how confident the market was during July.
“Even though anecdotally we’ve had a great start to August, the real question now, is how long this can be sustained for? Particularly now Auckland has gone back into Level 3,” continues Norwell.
The read the full Press Release CLICK HERE
The team at Ray White Eastern Group are here to help you with any Real Estate enquiries that you may have. Please pick up the phone or complete the form below and we will be in touch.
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
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