Navigating through the various property market statistics released each month can be interesting….especially when they’re all reporting different things. However, for September, they all seem to be agreeing that the NZ Property market has moved on from it’s stall during the elections, with property listings and prices picking up to follow the usual spring trend, albeit at a much slower pace than in the previous year…
NZ Property report
Unconditional.co.nz figures show the increase in national asking prices has slowed considerably: 3.9%, compared to an 8.7% rise in 2013.
Although the rate of increase in asking prices for properties has slowed, the prices are still moving upwards and remain at a high level with September’s National average asking price of $484,791 very close to the record of $490,550 set in June of this year.
REINZ data shows that while there was a noticeable increase in activity towards the end of September, sales volumes were well down on the same time last year. There were 5,911 unconditional residential sales in September, a 7.8% decrease on sales recorded for August, and a 12.0% fall from September 2013.
Barfoot & Thompson
Auckland Property Market
Comparing year on year, Auckland sale volumes where down: 1105 properties in Sept 2013, to 959 properties in Sept 2014.
However, September’s average house sales price of $738,876 has been the highest on record, due to the relatively low volume, but also, of the 959 homes sold, just over 17% were in excess of $1 million, including this little Grey Lynn gem, which went for $1.075 million. Only in Auckland right?….