The Auckland – Manukau property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales in the Manukau region of Auckland totaled 398 in the month, up slightly on a seasonally adjusted basis and up a significant 28% as compared to July last year. 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 at $493,00 was up 11% as compared to July last year and held up well as compared to June which recorded a sale price of $495,200. 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 Manukau region continues to show 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.