The Unconditional Blog

The impartial voice of the industry

 
2

Auckland – Central Property Pulse factsheet – July 2012

Posted on: August 21st, 2012 | Filed in Auckland Property Market Factsheet

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.

 

Article Discussion

  1. Are all the inner city apartments included in the central Property Pulse Factsheet?

    The median at $566,000 seems very low. We sell homes in the inner/west city suburbs of Westmere, Grey Lynn and Pt Chevalier and our office median over the last 3 months is $920,000.

    You can only buy a very basic 2 bedroom townhouse or unit in Pt Chevalier for $550,000.

  2. Yes – the REINZ data does include Apartments. The NZ Property Report for listings and inventory also includes apartments, we do breakout in the raw data file (which is open data) the make up of houses separate from apartments and lifestyle by region (that is Auckland region in total rather than breaking out the 4 districts).

Post your views