The Auckland City property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales within the City of Auckland at 656 in the month fell slightly on a seasonally adjusted basis in October but was up 37% on October 2010. The inventory of unsold houses across the wider Auckland region remains below the long-term average at 34 weeks of equivalent sales.
The median sales price for property in Auckland City at $516,900 was up 7% as compared to a year ago, and is showing significant volatility over the past months. The asking price expectation of new listings across the wider Auckland region rose to $568,778 up 6% as compared to a year ago, and up on the recent 2 months.
The level of new listings coming onto the market across the wider Auckland region in October at 3,796 was down 3% as compared to a year ago.