The Auckland City property pulse factsheet for May 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales within the City of Auckland at 948 in the month rose strongly on a seasonally adjusted basis in May and was up 29% on May2011. The inventory of unsold houses across the wider Auckland region at 20.6 weeks remains below the long-term average at 33 weeks of equivalent sales.
The median sales price for property in Auckland City at $577,000 was up 10% to reach a new high as compared to a year ago, and was up significantly on prior months. The asking price expectation of new listings across the wider Auckland region also rose to $578,533 up 8% as compared to a year ago.
The level of new listings coming onto the market across the wider Auckland region in May at 3,833 was up 12% as compared to a year ago.