The Auckland City property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales within the City of Auckland totaled 741 in the month. This showed a fall on a seasonally adjusted basis in July but was up 22% on July 2011. The inventory of unsold houses across the wider Auckland region at 18.9 weeks remains firmly well below the long-term average of 32 weeks of equivalent sales.
The median sales price for property in Auckland City at $566,000 was up 9% as compared to July last year and up from the June level of $556,000. The asking price expectation of new listings across the wider Auckland region rose in the month and recorded a 6% rise as compared to July last year to $574,932.
The level of new listings coming onto the market across the wider Auckland region in July at 3,667 were up 21% as compared to a year ago.
The data indicates that the Auckland Central continues to show very strong demand which has been the case for over 18 months, this matched to low inventory and strong selling price appreciation places the market firmly to the advantage of sellers who are able to influence the market direction through supply management.